Azo Pigments Market Business Analysis 2019 by CAGR, Share, Revenue and Prominent Key Players to 2023

Azo Pigments Market Business Analysis 2019 by CAGR, Share, Revenue and Prominent Key Players to 2023

Market Overview:

Azo Pigments contain nitrogen as a major element along with calcium, strontium, and barium. It has low toxicity which surges its demand in the food industry. It has good solubility in oil-based products, especially for paints & coating, plastics, and inks. Textile fiber is among the major application of Azo Pigments for preparing Azo Dyes. The product is beneficial to provide strong colorants and durability properties.

Oil solubility requires a good mixture of pigments to obtain a strong effect of colors, especially for use in the plastics and paints & coatings applications. It was difficult to attain deep shades of coloring in dyes owing to its insolubility in hydrocarbon and solvents, but recent innovation by coupling diazotized carbocyclic aryl amines and free hydrophilic groups with beta-naphthols, an alternative of one of alkyl groups, made it possible to have solubility in hydrocarbon and solvents for oil soluble pigments.

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Competitive Analysis:

Some of the prominent players operating in the Global Azo Pigments Market are BASF SE (Germany), Clariant International (Switzerland), Sudarshan Chemical Industries Limited (India), Pidilite Industries Limited (India), LANXESS (Germany), Ferro Corporation (US), DIC CORPORATION (Japan), Sun Chemical (US), Tah Kong Chemical Industrial Corp. (Taiwan), Crown Color Technology Co. (China), Ltd., Dimacolor Industry Group Co., Ltd (China), and Trust Chem (The Netherlands), among others.

Market Segmentation:

The Global Azo Pigments Market has been segmented on the basis of Product, Solubility, Application and Region.

By Product, the Global Azo Pigments Market has been divided into red pigments, yellow pigments, orange pigments, and others. The red pigments segment dominated the global market due to high solubility and strong colorant features for most of the applications, such as paints & coatings, inks, plastics, textile fibers, and others.

Based on Solubility, Global Azo Pigments Market has been categorized into oil soluble and water soluble. Oil solubility is expected to be the leading segment as it has a good mixture ability of pigments to obtain a strong effect of colors, especially for use in plastics and paints & coatings. It was difficult to attain deep shades of coloring in dyes owing to insolubility in hydrocarbon and solvents for oil soluble pigments, but recent innovation of coupling diazotized carbocyclic aryl amines and free hydrophilic groups with beta-naphthols made possible to have a solubility in hydrocarbon and solvents for oil soluble pigments.

On the Basis of Application, Global Azo Pigments Market has been categorized into inks, plastics, rubber, textile fibers, paints & coatings, food, and stationery, among others. Inks is the largest segment of the market due to the high demand generated from the printing ink industry. The innovation and development of inks are expected to increase the demand for Azo Pigments during the forecast period.

Regional Analysis:

Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five key regions studied for the Global Azo Pigments Market. Asia-Pacific accounted for the largest market share of the Global Azo Pigments Market, since last year. China is expected to be the major consumer of Azo Pigments owing to increasing construction activities and easy availability of raw materials.

North America and Europe are expected to witness healthy growth during the review period due to increasing investments in R&D to enhance the colorant strength and durability.

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