Azo Pigments are organic chemicals that may contain nitrogen group. They have a chemical structure similar to azo dyes and are mostly insoluble in water. A new report on the global Azo Pigments Market Growth, published by Market Research Future (MRFR), predicts that this market can see growth between 2022 and 2030. In terms of money value, the market can be worth USD 1.65 Bn by the end of the forecast period.
The most prominent market driver for the global azo pigments market growth is a set of stringent government regulations with regards to the use of organic pigments in food materials. The conventional metal-based pigments that consist of cadmium, lead, and other heavy metals are being replaced by innovative products. This can benefit the food industry to use the azo pigments in indirect food applications. Other market drivers for the global azo pigments market growth include increasing manufacturing of colored printing inks for industrial usage and increasing budget on the research development (RD). However, the market growth can face hurdles due to the high price of the product over inorganic pigments.
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Key Players
Big players in the global azo pigments market are BASF SE (Germany), Clariant International (Switzerland), Crown Color Technology Co. Ltd. (China), DIC Corporation (Japan), Dimacolor Industry Group Co. Ltd (China), Ferro Corporation (USA), Lanxess (Germany), Pidilite Industries Limited (India), Sudarshan Chemical Industries Limited (India), Sun Chemical (USA), Tah Kong Chemical Industrial Corp. (Taiwan), and Trust Chem (The Netherlands).
Market Segmentation
The global azo pigments market segmentation encompasses application, product, and solubility. MRFR’s research on the market highlights many facets of the market in-depth.
The application-based segmentation of this market is covering food, inks, paints coatings, plastics, rubber, stationery, textile fibers, and others. Among these segments, inks segment is the largest market segment due to the high demand from the printing ink industry, subsequently increasing the demand as well as market growth. The innovation, as well as the development of inks, are expected to enhance market growth during the forecast period.
On regarding the product, the market reveals orange pigments, red pigments, yellow pigments, and other pigments. The red pigments segment dominates the market due to high solubility and strong colorant features for many applications.
Based on solubility, the market can be segmented into oil-soluble and water-soluble. During the forecast period, the oil solubility segment holds the larger market share due to a good blending ability of pigments that obtains a strong effect on color which increases its demand in the plastics industry and paints coatings industry.
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Regional Segmentation
A geographical outlining of the global azo pigments market covers Asia Pacific, Europe, North America, Latin America, and the Middle East Africa (MEA).
The Asia Pacific region holds the greatest market share in the global markets. In China, India, and Indonesia, the purchasing power of consumers is increasing, and China is the biggest country-specific market. Hence, the market is rising in these countries. Other factors carrying forward the market growth include the adoption of eco-friendly products and rising infrastructure development activities. Japan is another important country-specific market in this region. An examination of the remaining countries in the Asia Pacific region featured in this report sums up the additional market revenue from some other countries.
In North America and Europe, Azo pigments sector is growing; many countries are demanding low carbon emission products to mitigate environmental challenges. The approval from government authorities has increased the use of azo pigments in food applications. Increasing investment in RD to enhance the colorant strength and durability is also boosting the market. Most of the key market players are based in the USA. Canada is the second most important country-specific market in North America. In Europe, such markets are France, Germany, Italy, Netherlands, Poland, Russia, Spain, and the UK.
In Latin America, the market is decent due to stable economies. However, the market size is small as economies are smaller than North American economies. The country-specific markets with maximum revenue in this region are Argentina, Brazil, and Mexico. An assessment of the remaining countries in Latin America listed in this report anticipates a decent contribution to market revenue from many other countries.
In the MEA region, the market has limited opportunities due to restrained production and limited availability of technology. The crucial country-specific markets are Bahrain, Kuwait, Israel, North Africa, Oman, Qatar, Saudi Arabia, Turkey, and the UAE. An assessment of the remaining countries in the MEA region featured in this report anticipates a decent contribution to market revenue from some other countries.
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