Azo Pigments Market Share, Size, Trends, Growth and Forecast to 2030

Azo Pigments Market: Information by Product (Red, Yellow and Orange Pigments), Solubility (Oil Soluble and Water Soluble), Application (Inks, Plastics, Rubber, Textile Fibers, Paints & Coatings, Food and Stationery) and Region - Forecast till 2030

ID: MRFR/CnM/6171-HCR | February 2021 | Region: Global | 180 pages

Azo Pigments Market

According to MRFR analysis, the Global Azo Pigments Market is projected to reach USD 1.65 billion at a moderate CAGR, between 2022 - 2030

Segmentation

By Product Red Yellow and Orange Pigments
By Application Inks Plastics Rubber Textile Fibers Paints & Coatings Food and Stationery

Key Players

  • BASF SE (Germany)
  • Clariant International (Switzerland)
  • Sudarshan Chemical Industries Limited (India)
  • Pidilite Industries Limited (India)
  • LANXESS (Germany)
  • Ferro Corporation (US)
  • DIC CORPORATION (Japan)
  • Sun Chemical (US)
  • Tah Kong Chemical Industrial Corp. (Taiwan)
  • Crown Color Technology Co. (China)
  • Dimacolor Industry Group Co.
  • Trust Chem (The Netherlands)

Drivers

  • Stringent government regulations on using organic pigments in food materials and increasing manufacturing of colored printing inks for industrial usage
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Market Synopsis:


Azo Pigments are organic chemicals, which contain nitrogen group. They have a similar chemical structure as of azo dyes and are mostly insoluble in water. The shades of the product are red, yellow, and orange, among others. The chemical constitution decides the shades and applications. The product solubility is in two forms oil soluble and water soluble, among these the oil soluble pigments segment accounted for the majority of the global market share in 2017. The product finds several applications, such as inks, plastic, rubber, textile fiber, paints & coatings, food, and stationery. Among these, the inks, plastics, and paints & coatings segments collectively accounted for more than 60% of the global market share in 2017.


According to MRFR analysis, the Global Azo Pigments Market is projected to reach USD 1.65 billion at a moderate CAGR, between 2018 and 2023.


The red pigment segment held a leading market share in 2017, as it possesses excellent color strength and highly stable specifications. Stringent government regulations on using organic pigments in food materials and increasing manufacturing of colored printing inks for industrial usage is driving the global market growth. The innovation of product replaces conventional metal-based pigments which consist of lead, cadmium, and other heavy metals, which benefits the food industry to use the azo pigments in indirect food applications. The global organic pigments market accounted for approx. USD 3.48 billion in 2017, of which the Azo Pigments Market accounted for more than 40% of share in the same year. The market has huge opportunity to expand the production facility in developing economies, due to the growing construction sector along with increasing demand for paints & coatings in the emerging economies of Asia-Pacific.


However, the high price of the product over inorganic pigments is expected to restrain the global market growth during the assessment period.


Global Azo Pigments Market Share, by Application, 2017 (%): Azo Pigments Market


Key Players:


BASF SE (Germany), Clariant International (Switzerland), Sudarshan Chemical Industries Limited (India), Pidilite Industries Limited (India), LANXESS (Germany), Ferro Corporation (US), DIC CORPORATION (Japan), Sun Chemical (US), Tah Kong Chemical Industrial Corp. (Taiwan), Crown Color Technology Co. (China), Ltd., Dimacolor Industry Group Co., Ltd (China), and Trust Chem (The Netherlands), among others, are some of the key players in the Global Azo Pigments Market. 


Market Segmentation:


The Global Azo Pigments Market has been segmented on the basis of Product, Solubility, Application and Region.


Based on Product, the Global Azo Pigments Market has been divided into red pigments, yellow pigments, orange pigments, and other pigments.


By Solubility, the Global Azo Pigments Market has been categorized as oil soluble and water soluble.


On the Basis of Application, the Global Azo Pigments Market has been categorized into inks, plastics, rubber, textile fibers, paints & coatings, food, stationery, and others.


Regional Analysis:


The Global Azo Pigments Market has been studied with respect to five key regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest share of the global market in 2017 and is projected to be the dominant regional market during the forecast period. Asian countries, such as China, Indonesia, and India are the major consumers of the product due to increasing purchasing power. Moreover, the rising infrastructural activities along with the adoption of eco-friendly products, paints & coatings, inks, and plastics are also expected to contribute to the growth of the regional market.


To mitigate the environmental challenges, the demand for low carbon emission products is increasing North America and Europe, and they are the major consumers of non-metal-based pigments across the world. The US Food and Drug Administration (FDA) and the Canadian Health Protection Branch (HPB) made approvals for azo pigments to be used in food applications. These initiatives have increased the demand for the product, which is expected to boost the growth of the regional market during the forecast period.

Recent Development

April 2021 : DTM Print is all set to launch larger and faster printing features on its proprietary edible ink desktop printer known as Eddie. This printer helps make personalized designs on a variety of desserts and baked items. For printing on different food items, Eddie makes use of only three-color ink cartridges that have dyes. Carmoisine is an organic azo pigment that is extensively deployed in drugs, food products, cosmetics, and more. It is one of the key azo pigments that is allowed to be used in the European Union.


Intended Audience



  • Azo Pigments Manufacturers

  • Traders and Distributors of Azo Pigments

  • Research and Development Institutes

  • Potential Investors

  • Raw Product Suppliers



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2022: USD 1.65 billion
  • 2030: Significant Value
  •   CAGR   Substantial CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Product, Solubility, Application and Region
      Geographies Covered   Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
      Key Vendors   BASF SE (Germany), Clariant International (Switzerland), Sudarshan Chemical Industries Limited (India), Pidilite Industries Limited (India), LANXESS (Germany), Ferro Corporation (US), DIC CORPORATION (Japan), Sun Chemical (US), Tah Kong Chemical Industrial Corp. (Taiwan), Crown Color Technology Co. (China), Ltd., Dimacolor Industry Group Co., Ltd (China), and Trust Chem (The Netherlands),
      Key Market Opportunities   The market has huge opportunity to expand the production facility in developing economies, due to the growing construction sector along with increasing demand for paints & coatings
      Key Market Drivers   Stringent government regulations on using organic pigments in food materials and increasing manufacturing of colored printing inks for industrial usage


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    Frequently Asked Questions (FAQ) :

    The outlook of the global Azo pigments market looks highly profitable.

    Azo pigments market is estimated to create a valuation of USD 1.65 BN by 2023, registering a moderate CAGR through 2018 to 2023.

    Based on Solubility, the Oil soluble segment and based on applications, the Inks segment account for the major share in the global Azo pigments market.

    North America holds the largest share in the global Azo pigments market, followed by Europe and the Asia Pacific, respectively.

    Clariant International (Switzerland), BASF SE (Germany), Sudarshan Chemical Industries Limited (India), LANXESS (Germany), Pidilite Industries Limited (India), Ferro Corporation (US), Sun Chemical (US), DIC CORPORATION (Japan), Tah Kong Chemical Industrial Corp. (Taiwan), Dimacolor Industry Group Co., Ltd (China), Crown Color Technology Co. (China), Ltd., and Trust Chem (The Netherlands), are some of the major players operating in the Azo pigments market.