Pigments and dyes bring color to printed materials used in everyday life, from packaging and publications to textiles, signs, labels, etc. Whether organic, inorganic or special effect pigments and dyes, they add color to the world around us beyond the black and white world.

Pigments are a sizable business. According to analysts at Verified Market Research (VMR), the global organic pigments market was valued at $2.68 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% to $3.85 billion between 2024 and 2030.

In addition, the global inorganic pigment market reached $24.4 billion in 2023 and is expected to grow at a CAGR of 5.38% to $35.03 billion between 2024 and 2030. These include titanium dioxide and carbon black pigments, among others, of which graphic printing accounts for only a small part.

Similarly, the global specialty pigments market size was valued at USD 25.64 billion in 2023 and is expected to grow at a CAGR of 5.80% between 2024 and 2030 to USD 38.05 billion.

However, the size of the organic, inorganic and specialty pigments markets varies depending on their respective applications and consumer preferences.

“Meanwhile, most organic pigments used in inks are azo pigments (bis-azo, mono-azo, hydroxybenzimidazole, azo condensates), precipitated pigments (basic and acidic precipitates), and phthalocyanine pigments,” VMR analysts report. “Pigments make up 50% of the ingredients needed to produce inks. It is of utmost importance to utilize first-class pigments to create rich, vibrant, durable inks that can be used for a long time, thus changing the appearance of a variety of items.”

In contrast, inorganic pigments are made from petrochemical or natural resources and are more durable than organic pigments.

“They retain their color longer,” VMR reports, “and because of their mineral content, they can also withstand prolonged exposure to chemicals and sunlight.”

“Similarly, metal fragments of varying sizes, called specialty metallic pigments, are made from zinc, copper, aluminum and their alloys. Aluminum, zinc and copper alloys produce gold, brass, copper and bronze hues. The shape, size and particle size distribution all affect the metallic effect.”

Demands from ink manufacturers

Pigments are critical in formulations, and in talking with ink manufacturers, there are several requirements that must be addressed.

“From a technical perspective, there are several considerations,” said Mark Hill, senior vice president and director of R&D at INX International. “First, we look for sustainable products or products that have better and measurable advantages, and also utilize bio-renewable raw materials. This is to support manufacturers who use sustainable processes in pigment manufacturing.

“Easily dispersed pigments can reduce energy consumption, improve physical properties such as gloss, strength and clarity, and can be used in a variety of different ink types,” Hill added. “Competitive pricing is another consideration, although we understand that improved sustainability sometimes comes at a cost. There has to be a balance.”

“INX also prioritizes reliability,” commented Anthony DeFrancesco, Senior Director of Supply Chain. “Key elements such as reliability, availability, and consistency create lasting relationships and are advantages we strive to provide to our customers. As Mark mentioned reliability, another notable consideration is ESG. Our global supply chain relies on trusted partnerships to protect our daily activities from undue risk.”

INX management wants their pigment suppliers to help with regulation and sustainability.

“We want pigment suppliers to provide products that do not contain heavy metals or other chemicals of concern,” Hill pointed out. “We want all suppliers to have a good understanding of the chemicals that are banned or restricted by governments and NGOs.”

“When you combine that with a range of environmentally conscious products, backed by measurable supply chain support, you have a winning combination,” De Francesco said.

Looking back at the pigment industry in 2023

Pigment producers report various concerns heading into 2023.

Falko Orlowski, executive vice president of marketing and sales for Trust Chem in the United States, reflected that 2023 was a challenging year, with many customers reporting lower-than-expected sales and a destocking effect.

But Darren Bianchi, president of Brilliant Color, said his company had a strong year. "We heard from our distribution network and customers at trade shows that some companies' stock prices were down 10% to 30% or more," Bianchi said. "Fortunately, Brilliant achieved double-digit growth in 2022. And we continue to see strong demand in the UV-curable product market."

“For us, the fastest-growing market is liquid packaging, especially flexible packaging,” said Carlos Hernandez, Orion SA’s marketing manager for coatings and printing systems in the Americas. “These are the same inks used in corrugated printing. In addition, we believe that the digital market is very important and has great potential, and we have developed various grades specifically for this segment.”

Hernandez touched on some of the priorities Orion is focusing on. “The most general and important priority is raw material supply, which is still due to the impact of the pandemic,” Hernandez said. “Also, producers are discussing labor issues, especially looking for workers with specific industry experience.”

“The ink industry is a very competitive market, so customers are always looking for lower costs between orders,” Orlowski noted. “In most cases, higher quality is often outweighed by lower costs.”

“As supply chain concerns dissipate, customers are moving to leaner inventories and often expect us to have inventory on hand and ship quickly,” Bianchi observed. “As their lab resources remain stretched, they regularly outsource technical work to us.”

Raw materials were a huge issue early last year but have stabilised over the past 12 months.

“The raw material market has been unpredictable in recent years, which has had an impact on the ink industry,” VMR analysts noted. “Some substrates have become increasingly difficult to find due to supply shortages and price increases. Many problems have arisen in recent years. However, concerns about titanium dioxide, photoinitiators and pigment intermediates existed long before the outbreak. However, in 2022, this trend has improved, and many companies believe that the situation will improve soon.”

“Raw material prices and supplies do stabilize toward the end of 2023,” Orlowski said. “We are now seeing slightly lower costs on the raw material side.”

“Overall, supply or availability has stabilized in most raw material markets,” Bianchi noted. “There are still some specialty raw materials in fluorescent and phosphorescent pigments that continue to see cost increases.”

As INX’s Hill and DeFrancesco noted, sustainability is a key driver in the ink industry, and Bianchi and Hernandez report that their companies are seeing the same benefits.

“Interest in sustainability is largely driven at the end-user level, and our customers are doing what they can to keep up,” Bianchi believes. “We are providing them with pigments that meet their key specifications and regulatory requirements, including formaldehyde-free chemistry.”

Red pigment (Image courtesy of Brilliant Group)

“Some of our customers have a strong desire to achieve net zero emissions or significantly reduce CO2 emissions by 2035,” said Hernandez. “Orion has announced a goal of achieving net zero greenhouse gas emissions by 2050. To achieve this, we have taken major steps in product development and adopted different approaches. Our sustainable product development focuses on the use of pyrolysis oil or renewable oil. Our customers are also working hard to reduce energy use and waste.”

In the path to sustainability, ink manufacturers are looking for materials that meet regulatory requirements. Bianchi noted that ink customers are often looking for ingredients for non-migrating inks, while Hernandez noted that most of the regulatory-related inquiries the company receives are about food packaging applications for Orion products.

“Typical requirements are related to compliance with Swiss directives and Nestlé guidelines,” he continues. “Orion has a very strong regulatory team that advises customers on their questions. In addition, we offer products that comply with FDA regulations for printing inks on food packaging.”

By David Savastano
Ink World Magazine

Source: Jung-"Paints and Inks—Chinese Edition"