Get a free sample of Phthalocyanine Pigments Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Get a free sample of Phthalocyanine Pigments Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Phthalocyanine Pigments Market Size
Phthalocyanine Pigments Market size was valued at around USD 27.8 billion in 2022 and is anticipated to grow at a CAGR of 5.9% between 2023 and 2032. Phthalocyanine pigments are known for their intense and vibrant colors that remain stable over time. Their resistance to fading and discoloration makes them a preferred choice for applications requiring long-lasting color.
These pigments exhibit excellent lightfastness, making them suitable for outdoor applications where exposure to sunlight is common. Their durability contributes to the longevity of products. Phthalocyanine pigments cover a broad spectrum of colors, including blues, greens, and even some reds and violets. This versatility allows manufacturers to achieve a wide range of color shades.
Some older formulations of phthalocyanine pigments may contain heavy metals, leading to environmental and regulatory challenges. The production of phthalocyanine pigments can involve chemical processes that generate waste and emissions. The handling of certain pigments and chemicals used in their production may pose health and safety risks to workers. Thus, the risks associated with Phthalocyanine pigments may drive down the acceptance rate, further hampering the business growth.
What is the size of the global phthalocyanine pigments market?
Market size for phthalocyanine pigments was valued at around USD 27.8 billion in 2022 and is estimated to surpass USD 49 billion by 2032, owing to the product
Why is blue colored phthalocyanine pigment witnessing high demand?
Blue segment 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.
How big is the U.S. phthalocyanine pigments industry?
U.S. phthalocyanine pigments market accounted for a revenue of USD 5.7 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032, backed by the demand for architectural coatings from the construction of residential, commercial, and industrial structures.
Who are the key players in phthalocyanine pigments industry?
Sudarshan Chemical Industries Ltd., Meghmani Pigments, Vibfast Pigments Pvt. Ltd., Trust Chem Co. Ltd., Sanyo Color Works Ltd., Nubiola Group, Sensient Technologies Corporation, Ferro Corporation among others.