Increase in Urbanisation Coupled with Growing Use of Paints and Coatings to Drive Market
Azo pigments output accounts for about 60% of the total pigments output. It is a type of organic pigment that is easy to be used, relatively cost saving, and providing clear and strong colours. Azo pigments have a wide chromatogram distribution, with colours such as yellow, orange, red, brown, and blue. Divided into three categories, insoluble azo pigments, azo lake pigment, and condensed azo pigments, azo pigment are widely used as colourants in many applications including industrial paints, printing inks, varnishes, plastics, crayons, rubbers, and other products. A wide application base continues to drive global azo pigments market.
Growing urbanisation, expanding population, and high disposable incomes in developing and developed countries are paving the way for constructing new buildings and residential structures, boosting demand for paints and coatings. The rapid surge in demand for paints and coatings is expected to significantly stimulate the market for azo pigments during the forecast period. In addition, the growing number of restrictions has driven consumers and producers to change to the organic pigments industry, which is a significant element driving product demand.
Urbanisation benefits the construction business by increasing the demand for infrastructure to manage housing, transportation, education, water supply, sewage system, and workplace. In addition, buildings are required for businesses to operate, and factories are required for manufacturers to manufacture their products. This necessitates the construction industry to build infrastructure, which is how the construction business evolves, driving the growth of azo pigments market. As of 2021, there will be 4.46 billion people living in cities worldwide. The world's urban population is predicted to reach 6.68 billion by 2050, with cities housing an additional 2.22 billion people. As a result of increased urbanisation and higher living standards, the need for construction, and hence the azo pigments market will rise.
Paints and coatings are primarily used to adorn and protect structures and infrastructure. Interior and exterior house paints, primers, sealers, varnishes, and stains are examples of architectural upgrades. Increased building activity and government investment in various public infrastructure projects are expected to increase the consumption of paints, thus driving the market growth. For example, every year in the United States, 1.2 million new housing units are proposed, with about 8 million employed by the construction sector through 2022.
Red Azo Pigments to Dominate Azo Pigments Market with Increased Use in Food, Medicines, and Cosmetics
Throughout the analysis period, the red azo organic pigments segment is expected to generate substantial returns in the entire market. This can be attributed to the numerous product applications and benefits. Red pigments have excellent solvent resistance, and stability. Notably, the FDA has approved the dye for use in food, medicines, and cosmetics in the United States. Several companies are currently attempting to broaden their services in the red pigments field to acquire a competitive advantage in the overall market. The construction industry's increased need for paints and coatings will likely drive red azo pigment sales in the coming years. Rising emphasis on R&D activities will provide chances for segment expansion.
Asia Pacific Will Acquire a Large Share in Market due to Increase Construction Activity
Asia Pacific will lead the worldwide azo pigments market in the coming years. Since China and India are significant producers of azo pigments, they are expected to dominate the regional market over the forecast period. In addition, expanding infrastructure activities and adopting eco-friendly products, paints and coatings, inks, and plastics will likely add to the expansion of azo pigments market in the region. India is seen to soar in the Asia Pacific region. Infrastructure and building activity in India is expanding significantly, increasing furniture consumption. In 2021, India saw a fresh supply of 45 million sq. ft, with 36 million sq. ft coming from tier I cities and 8.9 million sq ft from tier II and III cities. The market in India is predicted to grow quicker, owing to an increased attitude to creating and manufacturing goods in line with constantly changing requirements for advancing technologies, as well as the country's growing presence of quinophthalone pigment manufacturers. The causes above and government backing drive India.
North America is expected to continue to dominate global azo pigments market. The expansion of the infrastructure sector is expected to increase demand for azo pigments in these regions. In addition, North America sees an increase in demand for low-carbon products. The governments have permitted the use of azo dyes in the area. In 2022, The US government has declared plans to transition from high-polluting to low-carbon industries through green procurement and innovation. The business sector will play an essential part in these announcements, with programs such as the First Movers Coalition encouraging green growth. This is likely to increase market demand in North America. The azo pigments market has grown faster in the United States, which seeks self-sufficiency. Top producers of high-performance azo pigments in the United States, breakthroughs in azo dyes, significant R&D investments, and increased use of triarylcarbonium pigments in the country have all contributed to an increase in azo pigment sales.
Global Azo Pigments Market: Competitive Landscape
Market participants launch new goods and forge collaborations, alliances, and partnership agreements. For example, in June 2021, Clariant International announced the signing of a final agreement with Heubach Group. According to the deal, Clariant International is preparing to sell its pigment business to Heubach Group, and S.K. Capital Partners. In April 2021, DTM Print was preparing to debut larger and faster printing features on Eddie, its unique edible ink desktop printer. This printer aids in the creation of personalised graphics on a range of desserts and baked goods. Eddie solely uses dye-based three-colour ink cartridges while printing on various food items. Carmoisine is an organic azo pigment widely used in pharmaceuticals, food items, and cosmetics.
A few of the players in the azo pigments market include BASF SE, Clariant International, Pidilite Industries Ltd, Lanxess AG, Jiangsu Yabang Pigment Co., Ltd, Sincol Corporation, Sudarshan Chemical Industries Limited, DIC Corporation, Ferro Corporation, Tah Kong Chemical Industrial Corporation, Jeco Pigment USA Inc., Dimacolor Industry Group Co., Ltd, Trust Chem Co. Ltd, Crown Color Technology Co., Ltd, Cathay Industries, Alliance Organics LLP, Heubach Colour Pvt. Ltd, Toyo Ink SC Holdings Co., Ltd, Royal Talens B.V., Flint Group, Apollo Colors Inc, Changzhou Longyu Pigment Chemical Co., Ltd, Wellton Chemical Co., Ltd., and Jiangsu Yabang Pigment Co., Ltd.
Global Azo Pigments Market is Segmented as Below:
By Product Type
Key Elements Included In The Study: Global Azo Pigments Market
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