Synthetic Pigments Market Report 2025

The synthetic pigments market size has grown strongly in recent years. It will grow from $54.27 billion in 2024 to $59.69 billion in 2025 at a compound annual growth rate (CAGR) of 10%. The growth in the historic period can be attributed to emerging markets growth, government incentives, low interest rate environment, increasing textile demand and rise in affordable housing.

The synthetic pigments market size is expected to see strong growth in the next few years. It will grow to $86.27 billion in 2029 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to rising demand for high performance pigments and high demand from end user industries. Major trends in the forecast period include adopting iot technology to enhance manufacturing efficiencies, implement big data analytics in operations to reduce energy consumption, adopting sustainable and ecofriendly processes to manufacture organic pigments, low production costs, investing in technology advancements, investing in r&d to develop products with enhanced properties and focus on entering into merger and acquisition agreements with emerging companies.

The growth of the synthetic pigments market is anticipated to be fueled by the expanding automotive industry. This industry involves the design, development, manufacturing, marketing, and sales of motor vehicles such as cars, trucks, and motorcycles, as well as their components and related services. The automotive sector is thriving due to rising global vehicle demand, advancements in electric and autonomous technologies, and an increasing need for sustainable and efficient transportation solutions. Synthetic pigments are essential in this industry for providing durable, vibrant, and customizable colors that offer enhanced resistance to environmental factors such as UV radiation, heat, and chemicals. For example, in January 2024, the European Automobile Manufacturers' Association (ACEA), a Belgium-based lobbying and standards group for the automobile industry, reported a substantial growth of 13.9% in the EU car market in 2023, with sales reaching 867,052 units compared to 2022, culminating in a total annual volume of 10.5 million units. Most markets experienced double-digit growth, especially three of the largest: Italy (+18.9%), Spain (+16.7%), and France (+16.1%). In contrast, Germany saw a more modest year-on-year increase of 7.3%. Therefore, the growing automotive industry is driving the expansion of the synthetic pigments market.

The increasing demand from the textile industry is expected to boost the synthetic pigments market in the future. The textile sector encompasses the production of textiles, which are primarily made from fibers. Synthetic pigments are often more cost-effective than natural dyes, making them appealing for large-scale textile manufacturing. For instance, in November 2023, the UK Fashion and Textile Association (UKFT), a UK-based organization, reported that the UK fashion and textile industry contributed $81 billion (£62 billion) to the UK GDP in 2023. It also supported 1.3 million jobs nationwide and generated over $30 billion (£23 billion) in tax revenues. Therefore, the growing demand from the textile industry is driving the synthetic pigments market.

A notable trend of manufacturing capacities shifting from the Western countries to low-cost nations in the Asia-Pacific region. This shift is primarily attributed to the stringent environmental regulations in Europe and North America. The Asia-Pacific region, particularly countries such as China and India, has witnessed increased demand for pigments due to the gradual maturation of production technologies and the presence of robust downstream customer bases. Notable examples of companies relocating their manufacturing facilities to the Asia-Pacific region include Huntsman Corp., DyStar, and Clariant.

Major players in the synthetic pigments industry are actively engaged in developing innovative pigments such as Lumina HD, aiming to secure a competitive advantage in the market. Lumina HD pigments, characterized as high-definition effect pigments based on fine fraction synthetic mica, find utility in various applications, including automotive stylings and coatings for aerospace, general industrial purposes, and powder coatings. For instance, in May 2023, Sun Chemical, a US-based chemical company, introduced Lumina HD, a new family of high-definition effect pigments based on fine fraction synthetic mica. These pigments offer exceptional chroma, enhanced distinctness of image, subtle sparkle, and provide designers with new possibilities to create unique shades, particularly in the red to maroon and blue color ranges.

In April 2023, Cathay Industries, a US-based manufacturer and supplier of iron oxide pigments, acquired the Iron Oxide business from Venator Materials PLC for $140 million. This acquisition will provide Cathay with eight manufacturing facilities and one administrative site across six countries on four continents. This substantial investment underscores Cathay's commitment to expanding its global network and improving customization capabilities to better serve its customers and partners. Venator Materials PLC is a UK-based producer of synthetic pigments.

Major companies operating in the synthetic pigments market include The Chemours Company, Tronox Holdings plc, BASF SE, Kronos Worldwide Inc., Venator Materials PLC, Lanxess AG, Clariant, Merck Group, Altana AG, DIC Corporation, Hangzhou Tiankun Chem Co. Ltd, Qingdao Haiwan Specialty Chemicals Co. Ltd, Hangzhou Chungyo Chemicals, Hangzhou Han-color Chemical Co. Ltd., Kiri Industries Ltd., Heubach India, Atul Ltd., Clariant Chemicals (India) Ltd., K. Sakai & Co. Ltd., Asahi Songwon Colors Ltd., Sudarshan Chemical Industries Ltd., Taoka Chemical Co. Ltd., Toyo Ink SC Holdings Co. Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd.

Asia-Pacific was the largest region in the synthetic pigments market in 2024. Western Europe was the second-largest region in the synthetic pigments market report. The regions covered in the synthetic pigments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the synthetic pigments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

Synthetic pigments are carbon-based molecules created from a combination of petroleum compounds, acids, and other chemicals. These pigments find application in products that incorporate insoluble materials and minerals, enabling them to withstand conditions such as high heat, intense light, and exposure to weather or chemical agents.

The primary product categories within the synthetic pigments market include inorganic pigments and organic pigments. Inorganic pigments consist of metal oxides and/or synthetic chemicals with straightforward compositions, and they are extensively utilized in paints and coatings. The diverse array of industries using synthetic pigments encompasses paints and coatings, plastics, printing inks, textiles, cosmetics, personal care, and various other end-use sectors.

The synthetic pigments market research report is one of a series of new reports that provides synthetic pigments market statistics, including synthetic pigments industry global market size, regional shares, competitors with a synthetic pigments market share, detailed synthetic pigments market segments, market trends and opportunities, and any further data you may need to thrive in the synthetic pigments industry. The synthetic pigments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The synthetic pigments market consists of the sales of alizarin, azo-pigments, phthalocyanine, quinacridone, and metal compounds. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.