The 2024 Pigment Market

Pigments are a sizable business. According to

Moreover, the global inorganic pigments market reached $24.4 billion in and is expected to grow at a CAGR of 5.38% during the forecast period of - reaching a value of $35.03 billion. This includes titanium dioxide and carbon black pigments, among others, with graphic arts a small share of that.

Similarly, the global specialty pigments market stands at $25.64 billion in , and is expected to grow at a CAGR of 5.80% during the forecast period of -, reaching a value of $38.05 billion.

However, the size of the organic, inorganic, and specialty pigment markets varies among different applications of such pigments and consumer preferences as well.

'Meanwhile, the majority of the organic pigments used in inks are azo pigments (dia-azo,mono-azo, hydroxybenzimidazole, condensation of azo), precipitates pigment (alkaline and acidic precipitates), and phthalocyanine pigments,' VMR analysts reported. 'Of the components necessary to make ink, pigments make up 50% of the total. It is crucial to utilize top-notch pigments to create rich, brilliant, and dependable ink for long-term use so that these can change the appearance of anything.'

By contrast, inorganic pigments are manufactured using petrochemical or natural resources, and compared to organic pigments, inorganic pigments are more robust.

'They are capable of preserving color for a longer duration,' VMR reported. 'Since they include mineral ingredients, they can also endure exposure to chemicals and sunshine for a longer amount of time.

'Similarly, metal flakes of different sizes, known as specialty metallic pigments, are made of zinc, copper, aluminum, and their alloys. Aluminum, zinc, and copper alloys produce gold, brass, copper, and bronze colors. Shape, size, and particle size distribution all impact the metallic effect.'

Ink Manufacturers' Needs

Pigments are critical in in formulation, and in talking with ink manufacturers, there are needs that have to be addressed.
"From the technical side, there are several considerations," said Mark Hill, SVP and director of R&D at

"Pigments that are easy to disperse reduce energy consumption and improve physical characteristics like gloss, strength, and transparency, and can be utilized across a number of different ink types," added Hill. "Competitive pricing is another consideration, although we know that improvement in sustainability sometimes comes at a cost. Certainly, that must be balanced."

"INX also considers reliability as a top component," commented Anthony DeFrancesco, senior director of supply chain. "Key aspects such as dependability, availability, and consistency create lasting relationships and are the same virtues we strive to embody for our customers. As Mark said about reliability, another notable consideration is ESG. Our global supply chains rely on trustworthy partnerships to safeguard our day-to-day activities from undue risk."

INX's leaders look to their pigment suppliers for help with regulatory and sustainability matters.

"We expect pigment suppliers to provide products that do not contain heavy metals or other chemicals of concern," remarked Hill. "We want all of our suppliers to have a good understanding and knowledge of chemistries that are banned or have restricted listings by the government and non-governmental organizations."

"Suppliers operating transparently as stewards of the environment, as well as the communities they touch, will always stand out," said De Francesco. "When you couple it with an array of environmentally conscious product offerings and supported by a supply chain that is measurable, you have a winning combination."

The Pigment Industry in

Pigment manufacturers report that brought with it concerns. Falko Orlowski, EVP marketing and sales,

'We have heard through our distribution network and from customers at trade shows, etc., that companies are down 10%-30% or more,' Bianchi said. 'Fortunately, at Brilliant, we have seen double digit growth over . We continue to see strong demand in the UV-curables market.'

'For us the best-performing growth market is liquid packaging, particularly flexible packaging,' said Carlos Hernandez, marketing manager, Coatings & Printing Systems Americas at
Hernandez spoke about the priorities Orion is seeing.

'The most common and important priority is the raw material supply, still an effect of the pandemic,' said Hernandez. 'In addition, manufacturers are discussing labor issues, particularly finding workers with experience in their specific industries.'

'The ink industry is a very competitive market, so customers are looking for better cost from order to order,' said Orlowski. 'Lower cost is trumping in most cases higher quality products.'

'As supply chain concerns dissipate and customers are moving back to leaner inventories, they are regularly looking for us to have stock on hand, shipping quickly, etc.,' Bianchi observed. 'With their lab resources also remaining tight, they are regularly outsourcing technical work to us.'

Raw materials were a huge concern heading into the past year, but the past 12 months have seen stability.

'The market for raw materials has been unpredictable in recent years, which has affected the ink industry,' VMR analysts noted. 'Due to a lack of supply and rising prices, several essential substances are becoming harder to find. Numerous problems have emerged in recent years. However, concerns about titanium dioxide, photoinitiators, and pigment intermediates, to list just three, existed long before the COVID-19 outbreak. However, in , the trend is improving, and many companies believe the situation will improve sooner rather than later.'

'Raw material prices and supply did stabilize towards end of ,' Orlowski said. 'We are seeing now slight relief in cost on the raw material side.'

'Broadly speaking, much of the raw material market has stabilized in supply/availability,' Bianchi said. 'There are still some specialty raw materials used in fluorescent and phosphorescent pigments where the cost increases have remained persistent.'
As INX's Hill and DeFrancesco noted, sustainability is a key driver for the ink industry, and Bianchi and Hernandez reported their companies are seeing the same level of interest.

'Much of the sustainability interest is driven at the end-user level and our customers are doing all that they can to stay abreast,' said Bianchi. 'We are supporting them with pigments which comply with their main specification and regulatory requirements, including non-formaldehyde chemistry.'

'Some customers have a very strong ambition to reach net zero emissions or lower their CO2 emissions by large amounts by ,' said Hernandez. 'At Orion, we have announced our ambition to achieve net zero greenhouse gas emissions by . To that end, we have taken big steps and a different approach to developing products. Our sustainable product development focuses on using pyrolysis oils or renewable oils. Our customers also strive to reduce energy usage and waste.'

Along the lines of sustainability, ink manufacturers are looking for materials that meet regulatory demands. Bianchi pointed out that ink customers are regularly looking for components for non-migrating inks, while Hernandez noted that most of the regulation-related inquiries we get are about food packaging applications for Orion's products.

'Typical requests are related to compliance with the Swiss Ordinance and Nestle Guidance,' he continued. 'We at Orion have a very strong regulatory team that advises our customers on their questions. Also, we offer products that comply with FDA regulations for food packaging printing inks.'

Pigments and dyes give us the color we see in printed materials throughout our daily life, from packages and publications to textiles, signage, labels and so much more. Whether it is organic, inorganic or special effects, pigments and dyes give us the blacks, whites to colors we see around us.Pigments are a sizable business. According to Verified Market Research (VMR) analysts, the global organic pigments market stands at $2.68 billion in and is expected to grow at a CAGR of 5.3% during the forecast period of -, reaching a value of $3.85 billion.Moreover, the global inorganic pigments market reached $24.4 billion in and is expected to grow at a CAGR of 5.38% during the forecast period of - reaching a value of $35.03 billion. This includes titanium dioxide and carbon black pigments, among others, with graphic arts a small share of that.Similarly, the global specialty pigments market stands at $25.64 billion in , and is expected to grow at a CAGR of 5.80% during the forecast period of -, reaching a value of $38.05 billion.However, the size of the organic, inorganic, and specialty pigment markets varies among different applications of such pigments and consumer preferences as well.'Meanwhile, the majority of the organic pigments used in inks are azo pigments (dia-azo,mono-azo, hydroxybenzimidazole, condensation of azo), precipitates pigment (alkaline and acidic precipitates), and phthalocyanine pigments,' VMR analysts reported. 'Of the components necessary to make ink, pigments make up 50% of the total. It is crucial to utilize top-notch pigments to create rich, brilliant, and dependable ink for long-term use so that these can change the appearance of anything.'By contrast, inorganic pigments are manufactured using petrochemical or natural resources, and compared to organic pigments, inorganic pigments are more robust.'They are capable of preserving color for a longer duration,' VMR reported. 'Since they include mineral ingredients, they can also endure exposure to chemicals and sunshine for a longer amount of time.'Similarly, metal flakes of different sizes, known as specialty metallic pigments, are made of zinc, copper, aluminum, and their alloys. Aluminum, zinc, and copper alloys produce gold, brass, copper, and bronze colors. Shape, size, and particle size distribution all impact the metallic effect.'Pigments are critical in in formulation, and in talking with ink manufacturers, there are needs that have to be addressed."From the technical side, there are several considerations," said Mark Hill, SVP and director of R&D at INX International . "To begin with, we look for sustainable products or products with improved and measurable attributes, and/or utilize bio-renewable raw materials. It is in addition to manufacturers who use sustainable processes in the making of pigment."Pigments that are easy to disperse reduce energy consumption and improve physical characteristics like gloss, strength, and transparency, and can be utilized across a number of different ink types," added Hill. "Competitive pricing is another consideration, although we know that improvement in sustainability sometimes comes at a cost. Certainly, that must be balanced.""INX also considers reliability as a top component," commented Anthony DeFrancesco, senior director of supply chain. "Key aspects such as dependability, availability, and consistency create lasting relationships and are the same virtues we strive to embody for our customers. As Mark said about reliability, another notable consideration is ESG. Our global supply chains rely on trustworthy partnerships to safeguard our day-to-day activities from undue risk."INX's leaders look to their pigment suppliers for help with regulatory and sustainability matters."We expect pigment suppliers to provide products that do not contain heavy metals or other chemicals of concern," remarked Hill. "We want all of our suppliers to have a good understanding and knowledge of chemistries that are banned or have restricted listings by the government and non-governmental organizations.""Suppliers operating transparently as stewards of the environment, as well as the communities they touch, will always stand out," said De Francesco. "When you couple it with an array of environmentally conscious product offerings and supported by a supply chain that is measurable, you have a winning combination."Pigment manufacturers report that brought with it concerns. Falko Orlowski, EVP marketing and sales, Trust Chem USA , reported that was a challenging year with many customers running behind sales expectation, compounded by destocking effects. Darren Bianchi, president of Brilliant Color , said his company had a strong year.'We have heard through our distribution network and from customers at trade shows, etc., that companies are down 10%-30% or more,' Bianchi said. 'Fortunately, at Brilliant, we have seen double digit growth over . We continue to see strong demand in the UV-curables market.''For us the best-performing growth market is liquid packaging, particularly flexible packaging,' said Carlos Hernandez, marketing manager, Coatings & Printing Systems Americas at Orion S.A . 'These are the same inks used in corrugated printing. Also, we consider of great importance and potential the digital market, and have developed grades specifically for this segment.Hernandez spoke about the priorities Orion is seeing.'The most common and important priority is the raw material supply, still an effect of the pandemic,' said Hernandez. 'In addition, manufacturers are discussing labor issues, particularly finding workers with experience in their specific industries.''The ink industry is a very competitive market, so customers are looking for better cost from order to order,' said Orlowski. 'Lower cost is trumping in most cases higher quality products.''As supply chain concerns dissipate and customers are moving back to leaner inventories, they are regularly looking for us to have stock on hand, shipping quickly, etc.,' Bianchi observed. 'With their lab resources also remaining tight, they are regularly outsourcing technical work to us.'Raw materials were a huge concern heading into the past year, but the past 12 months have seen stability.'The market for raw materials has been unpredictable in recent years, which has affected the ink industry,' VMR analysts noted. 'Due to a lack of supply and rising prices, several essential substances are becoming harder to find. Numerous problems have emerged in recent years. However, concerns about titanium dioxide, photoinitiators, and pigment intermediates, to list just three, existed long before the COVID-19 outbreak. However, in , the trend is improving, and many companies believe the situation will improve sooner rather than later.''Raw material prices and supply did stabilize towards end of ,' Orlowski said. 'We are seeing now slight relief in cost on the raw material side.''Broadly speaking, much of the raw material market has stabilized in supply/availability,' Bianchi said. 'There are still some specialty raw materials used in fluorescent and phosphorescent pigments where the cost increases have remained persistent.'As INX's Hill and DeFrancesco noted, sustainability is a key driver for the ink industry, and Bianchi and Hernandez reported their companies are seeing the same level of interest.'Much of the sustainability interest is driven at the end-user level and our customers are doing all that they can to stay abreast,' said Bianchi. 'We are supporting them with pigments which comply with their main specification and regulatory requirements, including non-formaldehyde chemistry.''Some customers have a very strong ambition to reach net zero emissions or lower their CO2 emissions by large amounts by ,' said Hernandez. 'At Orion, we have announced our ambition to achieve net zero greenhouse gas emissions by . To that end, we have taken big steps and a different approach to developing products. Our sustainable product development focuses on using pyrolysis oils or renewable oils. Our customers also strive to reduce energy usage and waste.'Along the lines of sustainability, ink manufacturers are looking for materials that meet regulatory demands. Bianchi pointed out that ink customers are regularly looking for components for non-migrating inks, while Hernandez noted that most of the regulation-related inquiries we get are about food packaging applications for Orion's products.'Typical requests are related to compliance with the Swiss Ordinance and Nestle Guidance,' he continued. 'We at Orion have a very strong regulatory team that advises our customers on their questions. Also, we offer products that comply with FDA regulations for food packaging printing inks.'

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High performance inorganic pigments offer comparatively weak color strength, but can give excellent opacity and durability. To give another example, high cost organic pigments though offer excellent color strength but comes with the limitation of poor opacity. Thus Formulators are left with very difficult choices to make.

One thing to remember is that, pigment selection in most cases is application-specific. Some of the important factors that plays a vital role can be of choices like:

• Color and Tinctorial strength.
• Long-term performance vis-a-vis coloring cost.
• High melt temperature of polymers: For example take the case of fluoropolymers. Typical melt temperatures are high and can vary from 165°C- 370°C. Here the pigment selection is restricted and the majority of pigments applied are inorganic in nature.

Pigments find enormous types of application in broad range of industries and encompasses a huge variety of Colorants.High performance inorganic pigments offer comparatively weak color strength, but can give excellent opacity and durability. To give another example, high cost organic pigments though offer excellent color strength but comes with the limitation of poor opacity. Thus Formulators are left with very difficult choices to make.One thing to remember is that, pigment selection in most cases is application-specific. Some of the important factors that plays a vital role can be of choices like:

Want more information on white pigment supplier? Feel free to contact us.