Report Predicts Market for Organic Pigments to Reach $6.7 Billion by 2026
CHICAGO — According to a new market research report published by MarketsandMarkets™, the organic pigments market is projected to grow from $5.5 billion in 2021 to $6.7 billion by 2026. The printing inks segment accounted for a 36.4% share in terms of value in the organic pigments market in 2021 and is projected to reach $2.4 billion by 2026, growing at a compound annual growth rate (CAGR) of 3.9%. The paint and coating sector is projected to witness the highest CAGR of 4.5%, growing from $1.7 billion in 2021 to $2.4 billion by 2026.
Synthetic-based organic pigments account for a major share of the organic pigments market in terms of value, with a share of 93.6% in 2020. The high growth and market share of synthetic organic pigments are attributed to key advantages these pigments provide over other natural organic pigments. Synthetic pigments are manufactured using petroleum compounds, acids, and other chemicals, usually under high heat or pressure for manufacturing. They are generally synthesized using ring-based aromatic compounds. These chemicals can produce an extremely large number of variations in the molecular structure. They provide the added advantage of higher durability, high lightfastness and better gloss.