Azo Pigments Market Outlook – 2030
With growing urbanization and increased investment, there is a global demand for aesthetics. Because of technological advancement, all countries have shifted their focus to the health risks posed by pigments. Concerns have been raised about the carcinogenic properties of azo pigments used in a variety of end-use industries. Another trend is a focus on improved performance and aesthetic quality. Severe unofficial laws against contamination and natural concerns, especially in created locales, have expanded interest for bio-based azo colors. One trend that can be seen in several regions is the focus of both the public and private sectors on the need to reduce solid wastes containing hazardous materials. The colors business has conveyed a wide scope of materials with fundamentally further developed wellbeing and natural properties, powered by exacting guidelines and an interest for practical items. The pigments industry faces a challenge in developing sustainable products. Technological advances in the reduction of hazardous waste from pigment manufacturing are raising the bar for the azo pigments market.
COVID-19 Impact analysis
- COVID-19 had a negative impact on the market. As a result of the pandemic scenario, several countries went into lockdown, causing supply chain disruptions and work stoppages. This had a negative impact on the demand for a variety of industries, including paints and coatings, textiles, and others.
- The COVID-19 outbreak has disrupted logistics and transportation, causing China's shipments to halt. The delay has resulted in an increase in raw material prices in various countries around the world, which has harmed the dyes and pigments industry. Prices of main dye intermediates are increasing by more than 30% compared to the average price in the same time period, which will have a cascading negative impact on the market, including textiles, printing inks, papers, and other allied sectors, before COVID-19 is stored globally.
- Because only the processing of essential goods is currently permitted, the overall demand for chemicals used in other facilities has decreased. The main challenges are a combination of the shutdown's effects on the spread of fixed costs, labor shortages including contract workers, working capital challenges, and, finally, a decline in local and export demand.
Top Impacting factor
Azo pigments are used in both commercial and artistic paint products. A large number of infrastructure projects are sprouting up all over the world. Similarly, people's interest in art has grown to the point where they want to pursue it as a hobby or a career. During the forecast period, these factors are expected to influence product demand in the overall azo pigments market size. However, azo pigments may face industry challenges due to their negative health and environmental effects. The production of azo pigments generates a significant amount of solid waste, which contains hazardous materials that should not be discarded in the environment. These production barriers may stifle the growth of the azo pigments market. Nonetheless, technological advancements in the reduction of hazardous wastes in solid wastes are creating new opportunities for the azo pigments market, primarily in North America and Europe. Furthermore, strict government guidelines against environmental and pollution concerns, particularly in developed regions, have increased demand for bio-based azo pigments.
Market Trends
- New product launch
- Clariant introduced two new organic pigments for inkjet applications in May 2018, namely Ink Jet Magenta E-S VP6057 and Ink Jet Orange GR VP6102. This advancement will allow the company to expand its product portfolio.
- Heubach expanded its new manufacturing plant in Pennsylvania in February 2018. (US). The company intends to manufacture anti-corrosive pigments at its new plant, which will have an annual production capacity of 4,000 tones.
- Leading corporations are integrating merger and acquisition strategies into their long-term business plans. Market growth in European countries is expected to continue, albeit at a slower pace, reflecting the overall health of the regional economy. However, in the coming years, the European market is expected to present significant opportunities to key players.
- China is the world's second largest economy and a key market leader in Asia Pacific. Because of the availability of low-cost labor and raw materials, as well as the region's increasing demand for miniaturization of the chemical sector, China is the world's largest chemical manufacturing hub.
- The Chinese chemical market is critical to the development of end-use industries, and this trend is expected to continue in the coming decade. However, in order for the country's growth to continue, manufacturers, particularly those in the unorganized sector, must improve the quality and complexity of their products. The ability of Chinese companies to innovate, invest in research, and incorporate technological changes into their manufacturing processes is an important characteristic. Because of their ability to invest across the entire value chain, such companies pose a significant challenge to foreign multinationals.
- Asia Pacific will dominate the global azo pigments market in terms of revenue in the coming years. Countries such as China and India, which are major producers of azo pigments, will account for a sizable portion of revenue in this region. North America and Europe will remain dominant in the coming years. The expansion of the infrastructure sector will increase demand for the products in these regions.
Key Benefits of the Report
- This study presents the analytical depiction of the azo pigments industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the azo pigments market share.
- The current market is quantitatively analyzed to highlight the azo pigments market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed azo pigments market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the azo pigments Report
- Who are the leading market players active in the azo pigments market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Upcoming Report specific FAQs
- What is "azo pigments"?
- What does "azo pigments" allow organizations to achieve?
- What will be the anticipated growth rates for your own azo pigments market economy altogether and also for every segment inside?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
Azo Pigments Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Application |
|
 By Region |
|
 Key Market Players | Ferro Corporation, Clariant International, LANXESS, BASF SE, DIC Corporation, Dimacolor Industry Group Co., Tah Kong Chemical Industrial Corp, Sun Chemical, Pidilite Industries Limited, Sudarshan Chemical Industries Limited |
 | Crown Color Technology Co., Trust Chem, Others |
Loading Table Of Content...
