Organic Pigments Market Share

Organic Pigments Market Share Analysis

Organic pigments play a crucial role in enhancing the color performance of coatings, offering vivid hues, excellent dispersion, and high tinting strength due to their smaller size. Paint serves not only as a protective layer but also as a beautifying agent for various surfaces, including buildings, bridges, automobiles, and electronics. The precise pigmentation processes with organic pigments contribute to their ability to provide vibrant colors and superior tinting strength.

The automotive sector stands out as the primary industry for high-performance pigments (HPPs), particularly in coatings for luxury ships, traditional plug-in vehicles, high-end hybrid vehicles, and other automotive applications. The rapid growth of the global automotive industry has led to an escalating demand for high-performance pigments in automotive paints and coatings, consequently driving the organic pigments market. High-performance organic pigments play a vital role in automotive paints, providing durability, corrosion protection, and resistance to harsh weather conditions.

In the construction industry, the largest consumption of paints is witnessed in furniture and architectural coatings. These coatings serve a dual purpose of protecting wood and furniture from dampness while enhancing their ornamental appeal. With the construction industry's increased need for paints and coatings, organic pigments are becoming essential due to their high color strength and effective resistance to UV radiation, heat, sunlight, scratches, water, alkaline, and acids.

The growing construction investment, coupled with the rising demand for decorative coatings in the building sector, is expected to fuel the organic pigments market. According to PwC's Global Construction 2030 research, global construction production is projected to expand by 85% to USD 15.5 trillion by 2030, with key players like China, the United States, and India leading this growth. The construction industry involves various tasks, including the modification and repair of residential, non-residential, commercial, and infrastructural structures. Statista reports that worldwide building investment in 2021 is estimated to be around USD 12.9 trillion.

The expanding construction sector in Asia-Pacific and the Middle East and Africa, along with residential and commercial building developments, is driving demand for paints and coatings, subsequently boosting the need for organic pigments in these regions. Additionally, the construction of commercial buildings like warehouses, department stores, malls, and hospitals is contributing to the growth of the construction industry in developing markets, indirectly propelling the demand for organic pigments. As a result, the increasing demand in applications such as printing inks and paints & coatings is expected to propel the global organic pigments market.