The pigment industry is facing many challenges, as prices of raw materials are expected to rise in the near future. Organic and inorganic pigments differ significantly in performance and cost. Organic pigments have a wide range of properties such as strength in chroma as well as strength in tint. The primary disadvantage of organic pigments is that they are weaker in weather fastness and opacity. The pigments manufacturers are investing in manufacturing effective pigments. Hybrid pigments are one of the growing inorganic pigments in the worldwide market. Hybrid pigments provide an effective alternative for organic pigments. Hybrid pigments help bridge the gap between performance and cost without ignoring the environmental concerns.
In the pigment industry, organic pigments are divided into four types: azo pigments, polycyclic pigments, lakes pigments, and others. Polycyclic pigments are also known as high-performance pigments. High performance pigments can also include certain inorganic pigments with low environmental impact. Polycyclic pigment are of the highest quality as compared to other pigments. Polycyclic pigment has the best durability and have been specialized and commoditized in terms of applications. This organic pigment is quite expensive. However, due to its improved and unique properties, demand for polycyclic pigments is increasing across the globe. The pigment industry is facing tough competition; however, demand for polycyclic pigments has been rising due to their excellent resistance properties. Polycyclic pigments include phthalocyanine pigments, quinacridone pigments, perylene pigments, and isoindolinone pigments.
Based on application, the polycyclic pigment market can be classified into automotive coatings, industrial coatings, decorative coatings, plastics, inks, and cosmetic products. Polycyclic pigments are primarily used in the coatings industry. Approximately 50% of these pigments are used in the automotive sector. Demand for polycyclic pigments has been rising in the printing industry. Plastic application is expected to witness strong growth during the forecast period. However, applications such as inks are anticipated to witness sluggish growth owing to factors such as rapid digitization in developed as well as developing regions. Implementation of stringent regulations related to food contact applications is expected to hamper market growth.
Based on geography, the global polycyclic market can be classified into Asia Pacific, Europe, North America, Latin America, and Middle East and Africa. North America and Europe are the major regions of the polycyclic pigment market. Europe is an active market in terms of strategic initiatives. Factors driving the market in the region include growth of end-use industries, amplified local manufacturing, and increase in number of domestic players in various vertical market segments. Major restraints include high price of polycyclic pigments and lack of quality control across developing countries. New product launch is the most preferred strategy adopted by key market players to sustain in the highly competitive market. There are opportunities for polycyclic manufacturers to increase the production of environmentally-friendly polycyclic pigments. Asia Pacific region is also expected to provide ample growth opportunities over the coming few years.
Major players operating in the global polycyclic market are Sun Chemical, Clariant, BASF, Ferro, Vijay Chemical Industries, Meghmani Pigments, Sudarshan Chemical Industries Ltd., Voxco Pigments and Chemicals Pvt. Ltd., Horsta Chemicals Zhuhai Co. Ltd., Heubach, DIC Corporation, Trust Chem and Eckart GmbH, Merck Performance Materials and Lansco Colors. These companies hold significant share of the market. Thus, the polycyclic pigment market experiences intense competition.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.