Arylamide Pigments Market Trends

Growth Drivers

• Growing Consumption of Paints and Coatings - In the upcoming years, there will likely be an increase in demand for pigments due to the growing use of paints and coatings in infrastructure, buildings, and construction. Since these pigments are mostly employed in the color formulation of paints that can repel water, the arylamide category is also benefiting from the growing demand for paints that are water-repellent and used to preserve building surfaces. Due to the corrosion resistant pigments properties of Arylamide, demand for coatings that resist acid, solvent and corrosive agents has increased.

• Increased Utilization of Greener Solutions - Arylamide pigments can benefit from ongoing research & development efforts in the form of technological breakthroughs that enhance their qualities and expand their range of applications. Utilizing different polyurethane solutions that offer significantly better sustainability in the automotive, construction, and industrial sectors, which is accelerating innovations for the green trip. They assist architects in improving the insulation of buildings, which lowers the amount of gas, oil, and electricity required to heat and cool them. Thus, as they don't include any hazardous materials or heavy metals, arylamide pigments provide a sustainable substitute. Manufacturers can take advantage of this by marketing arylamide pigments as environmentally beneficial. 

• Increasing Demand for Smart Technology and Miniaturization in Power Electronics - Facilitating smart technology and power electronics miniaturization, particularly appropriate for semiconductor and IGBP (insulated-gate bipolar transistor) produced housings. One major factor is the increasing use of hybrid electric cars (HEVs) and electric vehicles (EVs). In 2023, over 2.3 million electric vehicles were sold, around 25% higher than during the same time previous year. IGBTs are essential parts of electric and hybrid cars' power electronics, helping with motor control and effective energy conversion. The IGBT industry is expanding as a result of consumer electronics such as air conditioners, refrigerators, and household appliances needing sophisticated power electronics. As consumers look for smart homes and energy-efficient solutions, IGBTs are essential for improving the functionality and efficiency of electronics. Therefore, this factor is accelerating the growth of arylamide pigments market.

Challenges

• Fluctuating Prices of Raw Materials - The cost of the raw materials needed to make arylamide pigments can change at any time. Manufacturers have difficulties because fluctuating raw material prices have an impact on their profit margins. The market for arylamide pigments is being restrained by this challenge.

• Strict Environmental Regulations May Hinder the Growth of the Market

• Growing use of Alternatives may act as a Restraining Factor for the Market