Quinacridone Pigments Market Size, Share, Growth, And Industry Analysis, By Type (Red Pigments, Violet Pigments), By Application (Printing Ink, Paints and Coatings, Plastics Industry, Textiles Industry, Others), Regional Insights, and Forecast From 2024 To 2032

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Quinacridone Pigments Market Report Overview

The global quinacridone pigments market size was valued at USD 0.29 billion in 2023 and is projected to touch USD 0.4 billion by 2032, exhibiting a CAGR of 3.5% during the forecast period. Asia-Pacific holds leading position in quinacridone pigments market share in 2023.

Quinacridone red is a brilliant, strong red that is produced synthetically and is an organic pigment. It is a component in acrylic and oil paints and inks. It is used to tint a variety of materials, including fabrics, polymers, and paints. Ink for printing and other products also use them. There are numerous hues of quinacridone red pigments, including red, orange, yellow, green, blue, indigo, violet, and black. Quinacridone is a chemical compound with colour. Numerous industrial colourant applications, including tattoo ink, colour laser printer toner, inkjet printer ink, and durable outdoor paints, utilise derivatives of the quinacridone pigment family. Quinacridone pigments produce stunning colours, have a strong tinting power and good fastness properties, and are just as long-lasting as pigments made from petrochemicals. They are used in a variety of printing, ornamental coatings, and automotive, industrial, and automotive applications.

The rising demand for quinacridone red pigments in paints and coatings, printing ink, the plastics sector, and textile industry applications is to blame for the market's expansion. In addition to these uses, quinacridone red pigments are also utilised in cosmetics and medical equipment.

COVID-19 Impact: Lockdown Restrictions to Hamper Market Growth

The COVID-19 pandemic has been unprecedented and staggering, with the quinacridone pigments market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The pandemic disrupted how every business in the globe operated. An enormous social, health, and economic emergency were brought on by the unexpected epidemic. The food and beverage, agricultural, pharmaceutical, cosmetic, personal care, sports, and medical industries were all impacted by the drop in quinacridone pigment supply. People were confined to their houses as a result of the travel restrictions, making it difficult to attend laboratories and offices. Furthermore, the rules and safety measures implemented by governments around the world have a significant impact on the supply chain. These elements had a significant impact on quinacridone pigment supply and demand. The COVID-19 pandemic could, however, have an immediate effect on market expansion. The global market has expanded moderately in recent years despite uncertainties like the economic slowdown of major economies, the positive and negative effects of low crude oil prices, fluctuations in the value of the U.S. dollar, the high growth rate of the U.S. automotive and construction industries, the precarious nature of various European nations' recovery, and changes in regulatory norms globally. The market for quinacridone pigments is anticipated to grow quickly due to this increased demand.

Latest Trends

"Quinacridone Pigments Market Innovation Will Open Up New Growth Prospects"

Businesses in the cosmetic and glazing goods industries have benefited from the development of a number of cutting-edge production techniques and technologies by minimising a variety of potential negative effects and maximising their prospects for success. Despite being recent, the sector has reacted favourably to these crucial alterations in the market environment.

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Quinacridone Pigments Market Segmentation

• By Type Analysis

According to type, the market can be segmented into red pigments, violet pigments. red pigments are anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into printing ink, paints and coatings, plastics industry, textiles industry, others. Printing Ink will be the dominating segment.

Driving Factors

"Companies' increased marketing efforts to boost demand for quinacridone pigments"

The need for advertising from multinational corporations and rapid technological advancement are driving the market's rise. Commercial printers are being used by businesses more frequently as they are more economical and effective for printing in mass. The widespread use of top-notch printed packaging material for branding and advertising is another factor that promotes growth. The persistent desire for actual hardbound books is another factor fueling industry rise. Additionally, media and document management are now being offered by commercial printing vendors, enabling businesses to enhance their distribution and marketing capabilities for both print and non-print items. Green commercial printers that use eco-friendly paper, inks, coatings, and chemicals and encourage recycling and waste reduction are also anticipated to further the market's rise.

Over the past ten years, new formulation techniques have greatly benefited in satisfying a variety of new and varied client needs. Anticorrosive defence, coatings with minimal volatile organic compounds, and nanocoating are recent innovations. The introduction of nanotechnology has had a significant impact on the sector. Industry businesses have used this technology to make nano paints and coatings in addition to zero- or low-VOC formulas. It involves adding metals or ceramics to a variety of compositions.

"New Technologies' Introduction Will Increase Demand for Quinacridone Pigments "

Due to improvements in coating performance, a number of companies, including Asian Paints, PPG Industries, Sherwin-Williams, Berger Paints, and AkzoNobel, promote their paints and coatings with a multi-year corrosion warranty. New environmentally friendly goods are often released by manufacturers to improve performance. The development of new technologies has enhanced coating performance as a result. India, China, and Southeast Asia's rapid urbanisation and growth are predicted to increase product demand across a range of applications.

Restraining Factors

"High Price Variations for Printing Ink to Limit Market Growth"

Future demand for these solutions is anticipated to be driven by the superior ability of components like pigments, binders, solubilizers, and additives to produce text, design, or images, as well as growing demand from the packaging industry, commercial printing, and shifting consumer preferences. However, downward pricing pressure would probably impede revenue development in printing because of the gradual increase in product prices brought on by the industry's fierce competition.

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Quinacridone Pigments Market Regional Insights

"Asia-Pacific is predicted to be the leading region during forecast period"

The analysis offers market insights for each region separately, including North America, Europe, Asia-Pacific, and the Rest of the World. Currently, the market's leading region is Asia Pacific. In terms of both production and consumption, the region has the largest portion of the market. The market in the Asia Pacific area is expanding as a result of a number of factors, including the fast expansion of the automobile and construction sectors, increased consumer demand, and population growth and urbanization. These elements have increased consumer demand for organic pigment-based paints, varnishes, polymers, and other goods. In the future years, China is anticipated to maintain its position as the region's top producer and user of organic pigments. India, Japan, South Korea, and other nations in the area have made major contributions to the market's expansion. The region's need for organic pigments is anticipated to increase as a result of the Indian government's growing emphasis on infrastructural development, industrialization, and urbanization. Additionally, the region is a desirable location for the manufacture of organic pigments due to the accessibility of inexpensive labour and raw materials, which contributes to the market's expansion.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP QUINACRIDONE PIGMENTS COMPANIES

• BASF (Germany)
• Clariant (Switzerland)
• Sun Chemical (DIC) (U.S.)
• Wenzhou Jin Yuan Chemical (China)
• Heubach (Germany)
• Trust Chem (Netherlands)
• Lona Industries (India)
• Pidilite Industries (India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.