The advertising needs of the global companies and substantial technology proliferation are fueling the market expansion. Businesses are increasingly using commercial printers since they are more cost-effective and efficient for bulk printing. Another growth-inducing element is the widespread usage of high-quality printed package material for advertising and branding. Another aspect driving market expansion is the consistent demand for physical hardbound books.
Commercial printing suppliers are also expanding their offerings to include media and document management, allowing enterprises to improve their distribution and promotion capabilities for print and non-print products. Furthermore, green commercial printers that employ eco-friendly paper, inks, coatings, and chemicals and promote waste reduction and reuse are expected to push market expansion further.
The introduction of several innovative manufacturing processes and technology has aided businesses in reducing various potential negative repercussions and optimizing their chances for growth in the ornamental and glaze products industries. Although these changes are quite recent, the industry has responded positively to these essential changes in market conditions.
Innovative formulation methods have considerably aided in meeting a wide range of new and diversified customer needs during the last decade. Recent advancements include anticorrosive protection, low-VOC content coatings, and nano-coating. Nanotechnology's debut has had a massive impact on the industry. In addition to zero or low-VOC formulations, industry companies have employed this technology to create nano paints and coatings. It entails the incorporation of ceramics or metals into diverse compositions.
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The pandemic disturbed the functioning of all the businesses around the world. The unpredicted outbreak caused a tremendous social, health, and economic emergency. The decreased supply of the quinacridone pigments affected the food and beverage, agricultural, pharmaceuticals, cosmetics, personal care, sports, and medicine sectors. Due to the travel restrictions, people were stuck in their homes, and attending laboratories and offices became an issue. Furthermore, the supply chain was severely affected due to the regulations and safety protocols undertaken by governments worldwide. All these factors highly affected the demand and supply chain of quinacridone pigments.
Due to a scarcity of raw materials for research and development and production, research and development operations in the healthcare industry have been severely hampered. Demand for quinacridone pigments has increased post-pandemic due to effective vaccination campaigns worldwide. Supply chains have effectively resumed operations after the second and third COVID-19 waves in most worldwide marketplaces. As the demand for pharmaceuticals, cosmetics, sports medicine, and personal care goods grows, so has the number of surgeries and, most crucially, the usage of quinacridone pigments.
The global quinacridone pigments market is divided into five regions: Asia-Pacific, North America, Europe, South America, and the Middle East and Africa.
Asia-Pacific is the most important market for quinacridone. It held about half of the market share in 2021 and is expected to increase at a CAGR of 6.9% by 2030. The key reason for development is that these regions' expanding economies are establishing food and beverage, agricultural, pharmaceutical, cosmetics, personal care, and sports medicine industries, which are the principal users of quinacridone pigments.
Another important market for quinacridone pigments in Europe. It now controls more than a quarter of the market. By 2030, it is predicted to increase at a CAGR of 5.2%.
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast Periods