Printing Inks and Paints & Coatings Drive Global Demand for Organic Pigments to Exceed $9 Billion by 2023
Industry Experts, Inc. unveiled the new global market report entitled " Organic Pigments – A Global Market Overview ". As per the new report, Asia–Pacific is estimated the largest consumer of organic pigments with consumption worth US$2.5 billion in 2017. This region is also expected the fastest growing market with a CAGR of 5.1% between 2017 and 2023. The use of pigments as coloring agents has a centuries old history and their manufacture had employed natural, as well as synthetic materials. Pigments are further categorized as organic and inorganic, with organic pigments being based on carbon chains and carbon rings. These substances comprise molecules made up of carbon atoms in combination with hydrogen, nitrogen or oxygen. Organic pigments may also be incorporated with metallic (inorganic) elements for helping in stabilizing the properties of the organic component. Analysts at Industry Experts, Inc. reveal that the type Azo is the largest organic pigment with an esti...