Azo pigments market can be divided based on its applications, into three end-user segments as paints & coatings, printing inks and others including plastics, construction materials, rubber, ceramic, paper, glass, etc.
Albany, NY -- (SBWIRE) -- 03/29/2016 -- Azo compounds, as defined by the International Union of Pure and Applied Chemistry (IUPAC), are alkyl or aryl derivatives of diimide (RN=NR'), popularly known as diazene derivatives. Azo compounds are synthesized by oxidation of aromatic hydrocarbons (hydrazinnes). The azo compounds contain closed rings of benzene combined by azo links. Azo pigments are used for organic red, yellow and orange pigments. Azo compounds are used as organic pigments and dyes by a wide range of industries, especially in paints for artists. An azo pigment is a colorless particle (usually earth or clay materials), which has been colored by using azo compounds. Azo pigments have exquisite coloring features along with lightfastness. The lightfastness of the azo pigment depends upon the characteristic features of the pigment carrier as well as the way the organic azo compound has been absorbed upon the pigment carrier.
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The growing paints and coatings industry driven by the rising construction activities is expected to drive the azo pigments market within the forecast period between 2013 and 2019. Recovering construction activities in North America and Europe after the slump between 2009 and 2011 is supporting the growth of paints and coatings market. This, in turn, is enhancing the demand for the chemicals used in these activities including organic azo pigments. However, strict regulations against hazardous chemicals such as alkyl azo compounds and volatile raw material prices of petroleum based chemicals are expected to hinder the azo pigments market growth. Development of environment friendly bio-based azo pigment products might be a prospective opportunity for market participants in order to stimulate further demand growth.
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Azo pigments market can be divided based on its applications, into three end-user segments as paints & coatings, printing inks and others including plastics, construction materials, rubber, ceramic, paper, glass, etc. Paint & coatings is estimated to be the largest market segment currently. Printing inks segment is also witnessing growth owing to its increasing applications in packaging industry and rising sales of the publishing houses in the developing regions of the world. Other applications are expected to witness growth rate at par or slightly above the global GDP.
Asia Pacific is expected to be the largest market owing to the rising infrastructure expenditure supporting the growth of building and construction projects. This fuels the demand for paints and coatings and thus, the demand for azo pigments. The market is witnessing major growth in China, India and other developing South East Asian countries. Rest of the world (RoW) is expected to be the fastest growing geographic segment. Brazil is expected to show higher than GDP market growth in constructions activities. The growth is attributed to Brazil hosting two of the world's most significant events; The FIFA World Cup in 2014 and the Summer Olympics in 2016 Further demand growth is expected for azo pigments in printing inks on account of increased penetration of publishing houses in developing regions of the world supported by initiatives of the U.N. (United Nations) to educate the global population. This trend is expected to continue over the forecast period between 2013 and 2019. The mature markets of Europe and North America are expected to grow slow as compared to Asia Pacific and RoW.
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Some of the key players in the azo pigments market include BASF SE, Clariant International Ltd, DIC (Dainippon Ink & Chemicals) Corporation and Vibfast Pigments Pvt. Ltd. among others.
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