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Azo Pigments Market

Market Study on Azo Pigments: Paints & Coatings Industry to Drive Most Demand Growth

Global Azo Pigments Market by Product Type (Red, Yellow, and Orange)

Global Azo Pigments Market Snapshot

[275 Pages Report] According to Persistence Market Research, the global market for Azo Pigments would be worth US$ 1,618.6 Mn in 2023. Azo Pigments sales possibilities are anticipated to grow at a strong 4.2% CAGR and reach a market value of US$ 2,442.4 Mn by 2033. During the projected period, the market is expected to increase due to the quick acceptance of Azo Pigments as an alternative to environment-friendly alternative to dyes.

Attributes Key Insights

Market Size 2023

US$ 1,618.6 Mn

Market Size 2033

US$ 2,442.4 Mn

Value CAGR (2023-2033)

4.2%

Collective Value Share: Top 3 Countries (2023E)

25-30%

There are three types of azo pigments, namely orange, yellow and red. These are further classified according to their color index for their respective end-use application and have the following technical names: ß-naphthol pigments, naphthol as pigments, azo pigment lakes, benzimidazolone pigments, diazo condensation pigments, metal complex pigments, isoindoline, and isoindoline pigments. These pigments find applications in high-grade coatings and plastics.

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Historical (2017-2022) Vs. Forecast (2023-2033) Market Outlook

Between 2017 and 2022, the market for Azo Pigments is anticipated to expand at a CAGR of 3.9%. In addition, current forecasts indicate that between 2023 and 2033, the growth prognosis for azo pigments would remain at 4.2%. A little reduction in growth rate during the historical period can be attributed to the global economic crisis and the decline in chemical sales that took place as the raw material shortage peaked during the Covid-19 outbreak.

However, with increased demand from end-use industries, the market is anticipated to rise significantly over the course of the projected period. Additionally, the increase in raw material availability is assuring that Azo Pigments will continue to be produced consistently and unabated over the predicted period.

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Market Dynamics

How demand from printing ink manufacturers is driving the market for azo pigments?

The continued economic expansion and the anticipated increase in global population are both expected to increase the need for printing inks. Demand for inks used in printing and packaging is predicted to increase, especially in developing countries like China and India, which are anticipated to have particularly rapid expansion in the printing sector throughout the Asia-Pacific region. The region's improved economic conditions, rising urbanization rate, and rising educational levels will all contribute to the industry's anticipated growth in publishing and printing. These elements will also increase the need for printed publications like books, newspapers, and magazines. The market is seeing an increase in demand for print versions of educational, professional, corporate, and technical materials.

Why do the paints & varnishes industries have a high demand for azo pigments?

The market for colorants, which includes dyes and pigments, has recently seen remarkable growth as a result of the substantial middle-class population in emerging economies. Increasing consumer spending and a growing demand to employ a variety of colors are two other variables that are anticipated to have an impact on the market for colorants. This has led to a growth in the demand for azo pigments, which are required for the manufacturing of plastics, coatings, printing inks, synthetic fibers, glass, ceramics, construction materials, medications, cosmetics, etc. This in turn has been driving the global market for azo pigments. The market for paints and coatings is expected to grow quickly throughout the projected period due to increased construction activities.

How will the dependency on petroleum feedstock hamper the growth of the azo pigments market?

The essential starting materials for the manufacture of azo pigments include base (amine), HCL (30%), acetic acid, sodium nitrite, sulphamic acid, caustic, and xylene, all of which are derived from petroleum. Due to the erratic nature of feedstock prices, azole pigment prices will change.

These fundamental components, which are widely employed by the colorants and coatings sector, are frequently produced by refinery processes and petrochemical feedstock. The feedstock used in the colorants and coatings industry-both petrochemical and non-petrochemical-is utilized in considerable proportions.

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Category-wise Analysis

On the basis of product type, which segment is dominating the global azo pigment market by consumption?

“Yellow Product Type accounts for the largest share of azo pigments owing to the variety of color indexes available in the yellow pigment”

Cost, combined with particular physical characteristics, is a major consideration when choosing a pigment color index. Yellow azo pigment provides a wide variety of color indexes as compared to red and orange pigments. During the projected period, demand from the paints & coatings, printing inks, and other end use industries is anticipated to propel segment expansion in the global market.

What are the growth opportunities for azo pigments in paints & varnishes applications?

“Rising urbanization and construction sector will create significant growth opportunities azo pigments in paints & varnishes applications”

The rising urbanization can increase in per capita income in emerging countries has boosted the building & construction industries. This boost has created a huge demand for paints & varnishes from the construction sector. Due to various advantages of azo pigments & government regulations, many players are opting for azo pigments for paints & varnishes applications. In the forecast period, the demand from the sector is anticipated to grow at a higher CAGR.

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Country-wise Insights

How are the azo pigments industries performing in the European market?

“Manufacturers emphasizing on strategic business goals to lead the azo pigments market in Europe”

Germany is anticipated to rule the Europe azo pigments market in terms of value and volume throughout the course of the projected year. Addressing a variety of important issues concerning feedstock and energy costs, surplus capacity, productivity, regulatory compliance, and other issues is crucial for the future of the pigment sector in Europe.

In order to expand their market position, European pigment players are increasingly focusing on growth potential in emerging economies through joint ventures and acquisitions of local businesses. The organic pigment market in Europe is undergoing rapid transformation, and external forces are posing industry executives with a variety of difficulties in various European nations. Leading firms are integrating their long-term business goals with their M&A strategies. The technology, research, and innovation are actively prioritised by major European companies in the chemicals and pigments industries. The chemical industry continues to place a high priority on developing and implementing low carbon technology and regulatory networks. An upcoming milestone for the industry is competition from other regions, such as the United States and Asian nations, particularly China.

What are the growth prospects for Azo Pigments in China?

“High Production volumes & Strong value chains of Chinese manufacturers makes China a prominent country in the global azo pigments market ”

China is the world’s largest manufacturing hub for chemicals, owing to the availability of low-cost labor and raw materials as well as the increasing demand for miniaturization of the chemical sector in the region. The China chemical market plays a crucial role in the development of end-use industries and this trend is expected to continue over the next decade, however, to continue the growth of the country, manufacturers – specially from the unorganized sector – have to improve the quality and complexity of products an important characteristic of Chinese companies is their ability to innovate, spend on research and incorporate technological changes into their production processes. Such companies pose a strong challenge to overseas multinationals through their ability to invest along the complete value chain.

The restructuring of various manufacturing foundations to improve work productivity and enhance product quality is expected to boost the azo pigments market in China. The shifting of production facilities from Europe and North America to China is expected to foster a significant growth rate for the azo pigment market over the forecast period.

How is India competing with the other countries in the azo pigments market?

“The pigments sector in India is estimated to become more competitive as compared to China with an increase in environmental compliance and wage costs”

Azo pigments are widely utilized in a variety of products, including paints, polymers, and printing inks. Between 2018 and 2026, the paints & varnishes segment is anticipated to grow at a CAGR of 4.4% and generate a $ 17.7 Mn additional opportunity. The red pigment market category is anticipated to grow in India based on market size, CAGR, and additional $ opportunity. Strategic investment choices and annual reports from prominent businesses are anticipated to be crucial factors in mergers and acquisitions. Mergers and acquisitions are becoming a more popular strategy among major players in the Indian chemical industry to maintain ongoing operations and long-term productivity.

Competitive Landscape

Multinational corporations that provide large discounts on their products dominate the intensely competitive market for azo pigments. Leading Azo Pigment manufacturers emphasize their connections with important distributors and sign contracts with clients that are lengthy. Organized market leaders on a global scale have carefully invested in cutting-edge manufacturing facilities to boost their output. Maintaining long-term agreements with end-use industries is a top priority for players in the unorganized sector.

Strategic positioning in regional as well as national markets is the key to success for azo pigments manufacturers. by establishing a strong position in regional markets and businesses, prominent market participants can decrease the price pressure created by regional players, which in turn will help them increase their profitability and create growth opportunities.

Most players manufacturing azo pigments focus on manufacturing pigments that showcase exquisite color features. However, the spectrum of materials, final products, and customization options available is constantly growing. Ultra fine grinding of pigments or fine pigmentation processing technology is currently the major subject for organic pigment manufacturers Some of the key developments are:

  • In 2021, DIC Corporation announced the successful acquisition of BASF’s pigment business - BASF Colors and Effects (BCE).
  • In 2021, Clariant International announced a definitive agreement with Heubach Group. According to the agreement, Clariant international is all set to sell its pigment business to Heubach Group and SK Capital Partners.

Similarly, more developments related to companies manufacturing Azo Pigments are been tracked by the team at Persistence Market Research, which is available in the full report.

Scope of Report

Attribute Details

Forecast Period

2023-2033

Historical Data Available for

2017-2022

Market Analysis

  • US$ Million for Value
  • Tons for Volume

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • BENELUX
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • ANZ
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Segments Covered

  • By Product Type
  • By Solubility
  • By Application
  • Region

Key Companies Profiled

  • BASF SE
  • Clariant International
  • Pidilite Industries Ltd
  • Lanxess AG
  • Jiangsu Yabang Pigment Co., Ltd
  • Sincol Corporation
  • Sudarshan Chemical Industries Limited
  • Ferro Corporation
  • DIC Corporation
  • Jeco Pigment USA Inc.
  • Tah Kong Chemical Industrial Corporation
  • Crown Color Technology Co., Ltd
  • Dimacolor Industry Group Co., Ltd
  • Trust Chem 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
  • Jiangsu Yabang Pigment Co., Ltd

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

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Azo Pigments  Market Segmentation

By Product Type:

  • Red Product Type
  • Yellow Product Type
  • Orange Product Type

By Solubility:

  • Oil
  • Water

By Application:

  • Azo Pigments for Textiles
    • Wool
    • Silk
    • Cotton
    • Linen
  • Azo Pigments for Plastic
  • Azo Pigments for Printing Inks
  • Azo Pigments for Food
  • Azo Pigments for Paints & Varnishes
  • Azo Pigments for Rubber
  • Other

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

- Companies Covered in This Report -

  • BASF SE
  • Clariant International
  • Pidilite Industries Ltd
  • Lanxess AG
  • Jiangsu Yabang Pigment Co., Ltd
  • Sincol Corporation
  • Sudarshan Chemical Industries Limited
  • Ferro Corporation
  • DIC Corporation
  • Jeco Pigment USA Inc.
  • Tah Kong Chemical Industrial Corporation
  • Crown Color Technology Co., Ltd
  • Dimacolor Industry Group Co., Ltd
  • Trust Chem 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

- Frequently Asked Questions -

The global market of Azo Pigments is estimated to reach a valuation of US$ 1,618.6 Mn in 2023.

The Azo Pigments demand is anticipated to witness a growth rate of 4.2% over the forecast period of 2023 and 2033 in terms of value.

Robust Growth in Demand from paints & Varnishes Industry, is the key driving factor for azo pigments market.

According to PMR analysis, BASF SE, Clariant International, Pidilite Industries Ltd, Lanxess AG, and DIC Corporation are identified as the key manufacturers in the Azo Pigments market.

Key players in the global Azo Pigments market are expected to account for about 30-35% of the overall market share.

The top countries driving the global Azo Pigments  demand are China, U.S., India, Germany and Japan.

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