The phthalocyanine pigments market has been estimated to grow at a significant speed in the near future. The growth prospects in the phthalocyanine pigments market are commonly attributed to significant growth in the textile industry. The textile industry holds a major portion in the revenue portion in the phthalocyanine pigments market in the following years.
Consumers in recent years are demanding environment-friendly pigments of colors. Along with this, the ability of these phthalocyanine pigments in order to meet the rising stringent performance standards and government regulations are also bolstering growth impetuses in the global market.
Phthalocyanine Pigments Market: Key Applications
The products from the phthalocyanine pigments market are used at an increased rate in quantum computing, ink manufacturing, and photovoltaics. In addition to these applications, the products are also used in plastic coloring and coatings because of their excellent chemical stability. Further, it is used as the standard pigment across the packing industry. Thus, based on these increasing applications, the phthalocyanine pigments market has been estimated to experience novel growth avenues in the foreseeable years.
The compounds from the phthalocyanine pigments market have thermal stability. Along with this, these pigments come with a low solubility rate in organic solvents. The products from the phthalocyanine pigments market are also used for organic solar R & D activities in the photovoltaic industry. In addition to this, these products also find application in quantum computing because of the time in which their electrons can exist in the quantum superposition state. Thus, based on these rising applications, the phthalocyanine pigments market is predicted to grow at a rapid pace in the near future.
Among various regional areas, Asia Pacific has been projected to hold a noticeable share in the phthalocyanine pigments market in the forthcoming years owing to the increasing use of the industry products.