The North America quinacridone pigments market is expected to reach a value of 93.13 million USD by 2030 with a CAGR of 6.4%. 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.
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Increasing demand for automobiles in US
According to Edmunds, an industry consultant, new car sales in the United States are expected to rise next year, driven by pent-up demand as automakers cut production in 2021 due to pandemic-driven supply chain issues and semiconductor shortages.
IHS Markit, a data company, said that new car sales in the United States will increase to 15.47 million vehicles in 2022, up from an expected 15.07 million in 2021.
Since the pandemic began, there has been a significant drop in sales; nonetheless, consumer interest in new automobiles remains strong, which will only serve to build up postponed demand for the upcoming year and beyond. Hence, the demand for Quinacridone pigments by automobiles industries will increase.
There is a link between the expansion of the regional market and the increase in industrialization and urbanisation in the Americas. Furthermore, robust growth in the plastics, paints and coatings, and textiles sectors in some of the world's leading countries, such as the United States and Canada, is positively influencing demand for quinacridone pigments.
Price Fluctuations That Are Extremely Wide-Ranging for Printing Ink Could Halt Market Expansion
It is anticipated that the superior properties of constituents such as pigments, binders, solubilizers, and additives to produce text, design, or images, along with rising demand from the packaging sector, commercial printing, and changing consumer preferences, will keep these solutions in high demand into the foreseeable future. However, because of the high competition in the market, there has been a gradual increase in product costs. This has led to downward pricing pressure, which is anticipated to impede the growth of revenue in the printing inks industry.
In addition, stringent regulatory frameworks such as the Federal Food, Drug, and Cosmetic Act and the United States Food and Drug Administration place restrictions on the use, production, and distribution of a variety of inorganic solvents and hazardous metals. These limitations apply to all of these activities. As a consequence of this, it is anticipated that it will act as a barrier to the expansion of the market over the duration of the forecast.
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.
Countrywise Growth Insights Request Sample Pages
The North America Quinacridone pigments market is divided into U.S., Canada & Mexico on the basis of country.
Over the course of the allotted time period, it is anticipated that North America will establish itself as a fruitful growth avenue for the quinacridone pigments industry. There is a correlation between the growth of industrialization and urbanisation in the countries that make up the Americas and the expansion of the regional market. In addition to this, robust expansion in the plastics, paints and coatings, and textiles sectors across some of the leading countries, such as the United States and Canada, is as well positively influencing the demand for North America quinacridone pigments market. In addition to this, the existence of notable automobile manufacturers in the area would provide additional support for the market expansion in the years to come.