The Europe quinacridone pigments market is expected to reach a value of 98.45 million USD by 2030 with a CAGR of 5.2%.
Quinacridone, which is primarily a molecule composed of inorganic elements, is utilised in the production of organic pigments. The compounds, which together make up a family of synthetic pigments, are principally put to use in the manufacturing of high-performance paints, inks, and coatings, amongst other applications. Because of the linear nature of the product, its application in the commercial sector is of utmost importance.
These pigments result in the production of seven distinct types of brilliant and striking colours. These hues range from a brilliant yellow to a vivid purple. They are preferred over other pigments for a variety of reasons, including but not limited to their excellent bleed and resistance to heat, their deep and vibrant colours, their high transparencies, and their very good tinting value and working properties.
Pigments made of quinacridone are utilised in a variety of commercial applications, including the production of paints, coatings, and inks, as well as the colouring of textiles and plastics. Pigments made of quinacridone are most commonly used in the coatings of automobiles, but they are also suitable for use in the paints used by artists, such as oils, acrylics, and watercolours.
When nanocrystalline dispersions of the compound are made to functionalize with solubilizing surfactants, the compound is then utilised in the production of printing ink. Due to the fact that their particles are so small, they can be utilised as printing inks. There are a few different magenta shades that are manufactured and labelled as "The Violet" and "Acra Violet" using the chemical Quinacridone. Organic pigments are processed to become some of the most powerful, saturated, and powerful tinting colourants available. If the substance is put to use as a dye, the fabric will readily absorb the colour.
Because of advancements in coating performance, paints and coatings from Asian Paints, PPG Industries, Sherwin-Williams, Berger Paints, and AkzoNobel, among others, are marketed with a multi-year corrosion warranty. To improve performance, manufacturers frequently release new eco-friendly products. As a result, new technologies have improved coating performance. Rapid urbanisation and development are expected to fuel product demand across a wide range of applications.
Nonetheless, the COVID-19 outbreak has the potential to have an immediate impact on market growth. Despite uncertainties such as major economies' economic slowdowns, the negative and positive effects of low crude oil prices, the shakiness of various European nations' recovery, and regulatory norm developments, the market has grown moderately in recent years. The Europe quinacridone pigments market is expected to expand rapidly as a result of rising demand.
Superior properties of constituents such as pigments, binders, solubilizers, and additives to produce text, design, or images, as well as rising demand from the packaging industry, commercial printing, and changing consumer preferences, are expected to keep these solutions in high demand in the future. However, due to the slow rise in product prices caused by the industry's fierce competition, downward pricing pressure will most likely stifle revenue growth in printing inks.
Furthermore, the use, manufacture, and distribution of a wide range of inorganic solvents and hazardous metals are governed by stringent regulatory frameworks such as the Federal Food, Drug, and Cosmetic Act and the United States Food and Drug Administration. As a result, market growth is expected to be hampered throughout the forecast period.
On the basis of type, the market is divided into PR122, PR202, PR282, PR206, PV19Υ, PV19β. In 2021, the PR122 segment has acquired the largest market share. Inks, paints, and high-density polyethylene (HDPE) plastics are common applications for PR122 because of the versatile properties it possesses. It can withstand high temperatures, light, solvents, and acids and alkalis very well. It also has a good resistance to solvents. PR122 is in higher demand in ink-based applications such as digital printing and offset printing as a result of its excellent weather and lightfastness as well as its high solvent fastness. Other desirable properties of PR122 include its high resistance to solvents. Because of its high resistance to heat, it can be used as a colourant in a variety of plastics, such as polycarbonate, polyester spin dyeing, ABS, polyolefin, and polystyrene.
The market is divided into the categories of printing ink, digital printing, paints and coatings, the plastics industry, the textiles industry, and other applications based on the end users. In 2021, the segment for printing ink acquired the largest market, and the segment for paint and coatings acquired the second largest market.
The Europe Quinacridone pigments market is divided into UK, Germany, Italy, Spain & rest of the Europe on the basis of country.
Europe had the highest demand for quinacridone pigments, followed by North America with the second highest demand. These markets are considered to be mature, and it is not anticipated that they will experience significant growth over the course of the next few years. The supply of raw materials for the production of these pigments is largely dependent on the countries of India and China.
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|