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Quinacridone pigments market size is expected to observe more than 6.5% CAGR from 2023 to 2032 owing to the growing environmental concerns and the need for sustainable products. Quinacridone pigments are favored for their eco-friendly nature and low toxicity, aligning with the global trend towards green and sustainable chemistry.
Additionally, the impressive color strength and lightfastness of the product make them highly sought after in various industries, including automotive coatings, plastics, and inks. The companies are expanding their footprint in the market by leveraging strategies such as acquisition, partnership, and product launched. For instance, in July 2021, DCL Corporation acquired the manufacturing facility of Sun Chemicals in South Carolina, US. The goal was to increase the sale and marketing of perylene and quinacridone.
Quinacridone pigments market is divided based on color, form, end-use, and region.
The violet/blue segment is predicted to generate high revenue by 2032 as these pigments offer a wide range of shades within the violet and blue spectrum, making them ideal for applications like artist paints, automotive coatings, and textile printing. The ability to achieve vibrant, pure colors with excellent transparency and high tinting strength has propelled the adoption of violet and blue quinacridone pigments. These pigments are becoming increasingly popular even in high-end cosmetics and personal care products due to their ability to create unique and captivating shades.
The printing & packaging segment will witness high demand through 2032 attributed to quinacridone pigments being extensively used to create vivid and eye-catching designs on various packaging materials. Their excellent dispersibility and color consistency make them a preferred choice for the printing industry. Quinacridone pigments enhance the visual appeal of product packaging, making products stand out on the shelves and capturing the attention of consumers. In addition, their resistance to fading and bleeding ensures the longevity of printed materials, making them suitable for labels, packaging, and decorative applications.
Asia Pacific quinacridone pigments industry size is anticipated to observe significant growth through 2032 due to rapid industrialization, booming automotive sector, and a growing middle-class population in countries like China and India. The rising interest in premium quality consumer goods and increasing disposable income are propelling the adoption of quinacridone pigments in various applications, including paints, coatings, plastics, and textiles. The Asia Pacific market is expected to witness significant expansion in the coming years as the demand for vibrant and durable colors continues to rise.