Phthalocyanine Pigments Market Analysis

Phthalocyanine Pigments Market Analysis

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Based on color type, the phthalocyanine pigments market is segmented as blue, green, other. Blue held a majority market value of USD 13.7 billion in 2022. The blue color is commonly used in architectural coatings, automotive finishes, and industrial coatings, driving demand for blue phthalocyanine pigments. Blue pigments are used in dyeing fabrics for clothing and fashion accessories due to their vibrant and enduring color. Moreover, an increasing usage will further accelerate the segmental growth.

Based on sub type, the phthalocyanine pigments market is segmented as copper, zinc, aluminum, others. Copper held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace through 2032. Copper phthalocyanine pigments are commonly used in architectural paints, industrial coatings, and automotive finishes for their color stability and durability.

Based on application, the phthalocyanine pigments market is segmented as paints and coatings industry, plastics industry, electronics, textile industry, cosmetic and personal care industry, others. Paints and Coatings Industry held a dominant market share in 2022 and is anticipated to grow at 5.4% CAGR from 2023 to 2032. The durability and colorfastness of phthalocyanine pigments make them ideal for architectural paints, industrial coatings, and automotive finishes. Thus, the high-quality services and growing usage of Phthalocyanine pigments are anticipated to expedite the business statistics.

U.S. dominated the North American region with majority phthalocyanine pigments market share and a revenue of USD 5.7 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. The construction of residential, commercial, and industrial structures leads to demand for architectural coatings where phthalocyanine pigments are used for coloration and durability.