San Francisco, California, July 28, 2017 : The global phthalocyanine pigments market is prognosticated to be favored by a wealth of applications such as ink manufacture, photovoltaics, and coatings and plastic coloring on account of properties such as exceptional chemical stability. In a report by TMR Research, titled “Phthalocyanine Pigments Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” the textiles sector is envisaged to be a significant end user on the revenue generation front. Other sources such as the surging consumer preference for environment-friendly color pigments and potential of phthalocyanine pigments to achieve progressively stringent performance standards and government regulations could also increase the demand in the market.
However, limited profit margins due to lower-priced imports causing a fierce competition to take shape in the world phthalocyanine pigments market are anticipated to impede the growth of industry players. Nonetheless, the production processes of phthalocyanine pigments undergoing perpetual technological developments and innovation could create new opportunities in the market. More prospects are predicted to birth with an increasing demand from several end-use applications such as quantum computing benefiting from the length of time that the electrons of phthalocyanine pigments could exist in a quantum superposition state. In the packaging sector, phthalocyanine finds application as a standard pigment.
The authors of the report foresee the international phthalocyanine pigments market to be led by Asia Pacific owing to its growing economy and swiftly expanding manufacturing base. The region is expected to accept the migration of manufacturing facilities from Europe and the U.S. because of tight environmental regulations in these developed markets. The local textile sector in China could help Asia Pacific with a flourishing contribution to demand on the back of a high consumption rate. Since a few years, the country has maintained its lead in the consumption and manufacture of phthalocyanine pigments. With government concessions offered to small and medium-sized enterprises (SMEs), India could follow China in the coming years.
As manufacturing facilities in Europe and North America are being shut down due to the enforcement of strict regulations by governments, there could be ample of export opportunities in the international phthalocyanine pigments market.
The report provides an extensive research on the competitive landscape of the worldwide phthalocyanine pigments market with the intention of aiding readers to take informed decisions when operating in the business. Companies such as CPS Color AG, Kiri Industries Ltd., BASF, Sinocolor Chemical, and Vibfast Pigments Pvt. Ltd. are prophesied to make an impact on the market. Several elements such as competitors, future plans, and market share could be studied in the report to have a complete idea of the operation of leading players in the industry.