GLOBAL ORGANIC PIGMENTS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global Organic Pigments Market Size and Trends

Global organic pigments market is estimated to be valued at USD 6.56 Bn in 2024 and is expected to reach USD 9.48 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

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The market is expected to witness positive growth over the forecast period. Increasing demand from various end-use industries such as printing inks, paints & coatings, plastics, and others is expected to contribute to the market growth. Organic pigments are increasingly being utilized in the manufacturing of printing inks owing to their brighter color, better shading properties and color consistency when compared to inorganic pigments. Furthermore, rising application of organic pigments in plastic manufacturing is also anticipated to drive the market growth. However, factors such as availability of substitute products and stringent environmental regulations regarding organic pigments production may hamper the industry growth during the forecast period.

Increase demand for organic pigments in paints & coatings industry

The demand for organic pigments is steadily rising in paints and coatings industry as consumers are becoming more environmentally conscious. Majority of organic pigments are derived from vegetable or animal sources and do not pose risk to the environment during their production, use or at end-of-life.  In recent years, there has been a tectonic shift in preferences of consumers who are willing to pay extra for eco-friendly products. The younger generation of millennial population in particular is driving this change by choosing brands that have strong commitments towards sustainability. This burgeoning trend is making paint and coating manufacturers include larger proportion of organic pigments in their formulations. Stringent environment regulations worldwide regarding VOC emissions is also shifting the industry towards waterborne and powder coating technologies where organic pigments have distinct advantages over others, therefore, growing paints & coatings industry is expected to drive the market growth. For instance, according to the data by Polymers and Paints Journal  in February 2024, India’s paint and coating industry has registered high single digit or double digit growth (barring the COVID-hit 2020) during the last 10 years.

Consumers at large spaces like schools and hospitals are wary of interior paint emissions. Even for do-it-yourself painting jobs, users want pigments which are safer for their families. The use of non-toxic ingredients addresses such needs and provides peace of mind. Interestingly, performance parameters of organic pigments have improved significantly to match functionality of inorganic alternatives. This addresses previous apprehensions of industries about compromised quality, opening up new markets.