Market Study of Pigments
Life cannot be imagined without colors. The importance of colors to attract the buyers is very well known to the industries. As such, the market of color pigments is growing at a very fast pace. A wide range of pigments are used in textile industry and they are increasingly substituting dyes. Other than textiles, pigments are used extensively in the sectors like cosmetics, paper, building material, ceramics, and glass. Before moving on to have an industry overview of pigments, it seems useful to know the various types of pigments available in the market.
Organic and Inorganic Pigments
Pigments are a group of insoluble colorants in form of finely ground solid particles that are mixed with a liquid to be applied in printing inks, oil and water based paints and plastics. There are two major types of pigments- organic and inorganic. Organic ones are obtained widely from the plant and animal kingdoms. They contain carbon in them. They are also produced synthetically through complex carbon-containing chemistry involving different materials such as petroleum, coal tar and natural gas.
Inorganic Pigments are produced either from naturally mined materials such as sienna, umber and ochre or from synthetically manufactured materials like iron oxide, carbon black, etc. Sometimes they are produced by combining both of these processes. Some of the examples of such mixed types are cadmiums, cobalts, and titaniums.
Some pigments, such as fluorescent pigments, are simply dyes that have been made insoluble through chemical reaction. There are other specialty pigments, some examples of which are fluorescent, metal effect, classic organic, complex inorganic, and phosphorescent among others. Many of the markets use pigments as dispersions often called color concentrates or master batches.
Pigments- Market Trends
The total volume of global market for inorganic, organic and special pigments was approximately 7.4 million tons in 2006. This volume will rise to 9.8 million tons by 2016 which is growing at a rate of 2.9% pa.- The major markets for colors and pigments include textiles, printing inks, plastics, paints and coatings. The other markets include ceramics, glass and minerals, leather; toner, cosmetics and toiletries, paper and paperboard etc.
- Production and consumption of pigments are shifting from the USA, Western Europe and Japan to the developing markets of Asia, particularly China and India due to lower wages and lenient environmental regulations.
- The growth rate on quantity basis is highest in Asia followed by Europe and North America.
- In 2006, the turnover was US$ 17.6 billion (£ 13 billion) mostly in Europe, followed by North America and Asia. It is predicted to reach US$ 27.8 billion (£ 20,4 billion) by 2016, with its annual growth rate of 5%.
- The legislative and environmental regulations along with health aspects are affecting the important markets of pigments dyes.
- Organic pigments are continually substituting inorganic pigments due to the fact that they provide a wide color spectrum and are free of heavy metals as many environmental regulations limit the use of lead, chromium, and cadmium.
- Based on quantity, organic pigments account for 5% whereas based on value they account for 28%.
- Worldwide demand for organic colorants will grow 4.9 % annually through 2008.
- New technological developments and product innovations will be introduced in the coming days due to the rising prices for oil and raw materials that is continuously decreasing the profit levels.