Azo Pigments Market

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

Azo Pigments Market Segmented By Red Azo Pigments, Yellow Azo Pigments, Orange Azo Pigments for Textile, Plastic, Printing ink, Food, Paints & Varnishes

Market Snapshot

As per a revised research, Persistence Market Research has predicted that azo colorant sales across the globe will witness a CAGR of 4.1% through 2031 to reach a valuation of US$ 2.3 Bn. Global sales of azo pigments are anticipated to contribute around 3.9% revenue share of the global color pigments market.

The research also reveals that global demand for red-coloured azo pigments is expected to witness Year-on-Year (YoY) growth of 3.4% in 2021 to total 100,437 tons. Sales of yellow-coloured azo pigments are expected to rise 3.9% to US$ 627.7 Mn.

East Asia is anticipated to remain a prominent regional pocket for azo dyes demand, and the azo pigments market in the region is estimated to progress at a higher CAGR of 4.9% as compared to other regional markets.

Azo Pigments Market Estimated Year Value (2021E)

US$ 1.54 Bn

Azo Pigment Sales Forecast (2031F)

US$ 2.3 Bn

Value CAGR (2021-2031)

4.1%

Collective Value Share: Top 3 Countries (2021E)

55.4%

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Companies

  • 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

Consumption Analysis of Azo Pigments from 2016 to 2020 Vs Market Outlook for 2021 To 2031

In the global market for azo pigments, revenue from the segments of textiles, plastic, and printing inks is expected to reach a value of US$ 660.4 Mn in 2021.

The global population was pegged at 7.8 billion in 2020, with a change of 1.05% during 2019-2020. Robust growth in population is expected to propel the construction industry, owing to rising need for residential and commercial buildings. Growth in the construction industry is expected to fuel demand for color pigments, thereby boding well for the sales of azo pigments.

Owing to growth in disposable income, demand for residential buildings along with sales of paints & coatings has increased at a rapid pace. As such, Persistence Market Research has anticipated industry growth for azo pigments to be at 4.1% CAGR through 2031.

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What are the Key Opportunities for Azo Pigment Manufacturers across the Globe?

Increasing stringent regulations across the globe, especially in developed economic regions such as North America and Europe, are expected to create robust opportunities for market players.

Significant rise in regulations over the use and production of harmful synthetic chemicals in pigments has contributed to hindering the growth of conventional chemicals. On the other hand, rising number of regulations has compelled consumers and manufacturers to shift over to the organic pigments market, which is key factor responsible for elevating product demand.

Moreover, remarkable growth in demand for paints & coatings can be observed in emerging economies such as India and China. This rising demand is primarily driven by growing construction activities such as infrastructure development, and commercial & residential building construction, which, in turn, are elevating the growth of the construction industry. Growth of the construction industry is expected to create robust opportunities for dependent industries, including the pigments industry.

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A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.

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What is Hindering Sales of Azo Pigments?

Azo dyes and pigments are considered under organic pigments and no harmful synthetic chemicals are used during their production process. Using eco-friendly chemicals instead of synthetic chemicals elevates the production cost of azo pigments.

High production cost associated with azo pigments increases product pricing. Presence of cheaper alternatives color pigments is hampering demand for azo pigments, especially in emerging markets that are not bound by strict governmental regulations, such as India, Brazil, Egypt, and others.

However, rising awareness toward environment degradation and various associated health risks are promoting the use of organic products. With further spread in awareness, huge consumer shift is likely to occur toward organic products, leading to higher organic pigment demand, irrespective of the pricing difference.

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How is Growing Trend of Organic Products Affecting Azo Pigment Consumption?

Awareness toward environment degradation is rising rapidly across the globe. Various regional government and environment regulatory bodies are imposing stringent regulations to control this phenomenon.

Various campaigns and movements such as the Youth Climate Change Movement, Organic Foods, Smart buildings, and others have been started by regulatory bodies and people to spread awareness about environment protection and the adverse effects of using harmful synthetic products.

With rising awareness about environment protection, a huge shift in consumer preference toward organic products have been observed in recent years. Azo-based pigments are predominantly organic pigments, and will benefit by this consumer shift toward organic products.

azo-pigments-market

Country-wise Analysis

Is China a Lucrative Market for Azo Pigments?

China is expected to contribute around 32% of revenue generated through the sales of azo pigments across the globe. Growth in the country’s construction industry and rising demand for paints & coatings are primary factors elevating the consumption of azo pigments in the country.

In addition, the country has an extraordinary presence of end-use industries for pigments. China is a prominent producer of textiles. Vast presence of textile manufacturers in the country creates huge demand for pigments.

Moreover, a slight shift of consumers in China toward environment protection and organic products has be observed in the recent past, and this shift is expected to increase with rising awareness and increasing initiatives by the Chinese government, which is expected to benefit azo pigment suppliers over the coming years.

Why is Demand for Azo Pigments High in the U.S.?

In 2021, azo pigment demand in the U.S. increased 4.1% Y-o-Y, bucking initial scepticism about how the market would perform during a global pandemic. Across the whole of North America, total sales value of azo pigments are expected to reach US$ 329.3 Mn by 2031-end.

High consciousness among consumers based in the U.S. toward environment protection and eco-friendly products is encouraging the use of azo pigments in the country. Persistence Market Research is expecting the country to be one of the leading consumers of azo pigments across the globe. Various regulations imposed by the U.S. government and environment protection bodies are also promoting the use of organic pigments in the country.

Category-wise Insights

What is the Growth Outlook for Different Product Types of Azo Pigments?

Revenue from red azo pigments is expected to increase a robust 4.3% Y-0-Y in 2021, while demand for yellow coloured azo pigments is anticipated to increase 3.4%, giving the combined market for azo pigments Y-o-Y growth of 4% in 2021.

Awareness about environment degradation is rising quickly across the globe. Various regional government and environment regulatory bodies are imposing stringent regulations to control environment deprivation. Rising awareness is encouraging consumer shift to eco-friendly products.

Which is the Highest Consumer Application of Azo Pigments?

Azo pigments are most widely used in the paints & coatings industry, followed by plastic and printing Inks. The paints & coatings industry is expected to consume around 43% of pigments produced globally.

Demand for paints & coatings has increased rapidly owing to consistent growth of the construction industry. Growing demand for paints & coatings is expected to elevate consumption of pigments across the globe, which would mean well for azo pigments too.

Has COVID-19 Dented the Sales Prospects of Azo Pigments?

Azo pigment sales were impacted by the novel coronavirus pandemic in 2020. Muted demand from end-use industries owing to various preventive measures taken by regional government to stop the further spread of the virus pushed the demand graph of pigments toward the negative side.

Moreover, production and supply of raw materials meant for azo pigments were affected due to travel and trade restrictions imposed across regions. Owing to disruptions caused in the supply chain and complete stoppage of production activities, the market witnessed a drop in its growth rate.

However, as things have opened up, the market is getting back to its original predicted growth rate.

Competitive Landscape

Key manufacturers of azo pigments are engaged in strategic mergers and acquisitions in order to gain a competitive edge in the market.

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, recent developments related to companies manufacturing azo pigments have been tracked by the team at Persistence Market Research, which are available in the full report.

Azo Pigments Industry Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

  • US$ Mn for Value
  • Tons for Volume

Key Regions Covered

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

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia and New Zealand
  • GCC Countries
  • Turkey
  • South Africa

Key Market Segments Covered

  • By Product Type
  • By Application
  • By Solubility
  • 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

Pricing

Available upon Request

Key Segments Covered in Azo Pigments Industry Research

By Product Type

  • Red Azo Pigments
  • Yellow Azo Pigments
  • Orange Azo Pigments

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
  • Others

By Solubility

  • Oil Soluble Azo Pigments
  • Water Soluble Azo Pigments

Media Release

- FAQs -

The global azo pigments market is estimated to be valued at over US$ 1,538.5 Mn in 2021.

Sales of azo pigments increased at a CAGR of 2.3% from 2016 to 2020.

Growing need for paints & coatings is majorly driving demand for azo pigments.

Consumption of azo pigments is projected to increase at 4.1% CAGR and be valued at around US$ 2.3 Bn by 2031-end.

Consumers preferring eco-friendly products over conventional ones owing to rising awareness about environment protection is a key trend shaping market expansion.

China, the U.S., Russia, Germany, and Canada are the main countries driving demand for azo pigments.

Russia holds close to 30% share in the European market for azo pigments.

China, the U.S., and Russia are key manufacturers and also exporters of azo pigments.

Japan and S. Korea together hold around 2% share in the global market for azo pigments.

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