Phthalocyanine is an organic or natural
compound with the formula (C8H4N2)4H2. It is defined as an aromatic macrocyclic
compound. It possesses concentrated blue-green color and forms coordination
complex with approximately containing all the elements of periodic table that
are used as dyes or pigments. These are permanent pigment and remain natural
when exposed to light, heat, and certain chemicals. These are used in premium
inks and coatings offer key attributes for instance color strength, durability,
coverage, chemical inertness, good environmental performance and light &
weather fastness. In addition, also used as catalyst in redox decline. These
pigments have low solubility pace in organic solvents and many of their compounds
that are thermally constant. The global pthalocyanine pigments do not dissolve
but can be sublimed in the existence of inert gases. These are structurally
similar to porphyrins &other macrocyclic pigments. These pigments also
belong to Azo Phthalocyanine groups and acquire excellent dispersion &
rheological characteristics and useful as organic solar cell in photovoltaic
industry or even in quantum computing.
According to study, “Global
Phthalocyanine Pigments Market 2019 by Manufacturers, Regions, Type and
Application, Forecast to 2024” key companies currently operating in
phthalocyanine pigments market areBASF,DICCorporation (Sun Chemical), Clariant
International, YabangInvestment Holding Group, Lynwon, Eckart, North American
Chemical, Deep Group of Industries, Meghmani Organics Limited, Jeco Group,
Shuangle, Heubach, Riverside Industries Ltd., Jiangsu Mcolor Chem, Sudarshan,
Lily Group, LANXESS AG, Pidilite, Sunsing Chemical, Sanyo Color Works, Mazda
Colours, NIRBHAY Rasayan, Yuhong New Plastic, Jaysynth, Ganesh Group, Vibfast,
Narayan Organics, Krimasil, Kolorjet, Alliance Organics.
Based on type, global phthalocyanine pigments
market is segmented into metal phthalocyanine pigments and metal free
phthalocyanine pigments. Based on color classification, market is segmented
into green, blue and others. Based on product type, market is bifurcated into
hybrid phthalocyanine pigments and analog phthalocyanine pigments. Based on
application, market is bifurcated into paints & coatings, printing inks,
plastics and others (soap & detergent, textile and rubber). Based on
end-use, market is bifurcated into textile, marine, equipment and others.
The global phthalocyanine pigments are
primarily driven by increase in per capita income, followed by rise in
population and increase in consumption of paints & coatings. Apart from
advantages, these factors include the health-related regulations and require
the government monitoring.
Asia Pacific region is expected to lead global
phthalocyanine pigments market due to a rapidly expanding manufacturing base
and a booming economy. The country such as China is expected to continue with
an extremely fruitful market for players owing to high consumption rate in the
local textile industry. Moreover, India is projected to second key country in
the region Asia Pacific region as a result of government concessions to small
& medium sized establishment. In addition, industry has witnessed enormous
export opportunities on account of shutting down of manufacturing conveniences
in the North American and the European region, the strict government
regulations are expected to impact the market growth over the forecast period.
The global market for phthalocyanine pigments is projected to grow at a CAGR of
approximately 4.9% over the forecast period and expected to reach at US $1740
million in 2024, from US $1310 million in 2019.
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