Global Azo Pigments Market Drivers, Dynamics And Strategic Analysis, Challenges by 2024

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The use of Azo Pigments is limited in comparison to azo dyes, due to high cost and specialty applications that necessitate significantly higher levels of exquisite coloring features. For the same reason, the overall Azo Pigment Market is significantly smaller as compared to the other azo dyes market. There is also a shift from classical azo pigments to high performance pigments and effect pigments.
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Recycle and reuse practices are impacting the sales of virgin materials, resulting into lesser dependency on volume-driven growth. New materials are showcasing potential for driving value-based growth, but chemical companies are still some time away from achieving voluminous production, while maintaining high quality at the same time. Barring few exceptions, a majority of players are still prioritizing short-term volume growth over long-term value growth. Pressure on improving bottom-line is influencing manufacturers to improve efficiency and reduce operational costs. The impact of value-driven growth may not be visible in the short-term, but long-term outlook remains in favor of a balanced approach between value and volume.
Manufacturers are under increasing pressure to incorporate digital solutions in their offerings. Forward-thinking manufacturers are investing in technology to reduce human interference and streamline key operational aspects such as ordering and shipping. Resonating its influence over every industry, Internet of Things (IoT) has the potential to transform and disrupt the chemical sector. Connectivity through IoT devices is gaining traction, whereas product-level sensors on dispensing equipment and barrels are helping manufacturers track their consignments digitally. Through assessment of long-term benefits, chemical companies are capitalizing on digitization by adopting digital platforms & processes that eliminate human error in profit-associated operations.
Chemical manufacturers have promised support and adherence to governments & regional authorities that are committing towards green, sustainable initiatives. Development of bio-alternatives is gaining momentum. Research & academic institutes are teaming up with manufacturers to formulate sustainable substitutes for commonly-used chemical substrates. Many companies are keeping a close eye on advancements in green chemistry. Shift towards eco-friendly chemicals will gain momentum in the future on the back of government regulations and end-user preference. Rising costs of fossil fuels will also instrument the upsurge for sustainable chemicals manufacturing.
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The global azo pigments market has been segmented into:
Solubility:
Oil
Water
Product Type:
Red
Yellow
Orange
Application:
Plastics
Textile
Wool
Silk
Cotton
Linen
Printing Ink
Food
Paints &
Varnishes
Rubber
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List of factors tracked in the Chemicals and Materials Market Report
Chemical Industry Value Add
Chemical Sales
Per Capita Consumption
Standard Capacity Factors
Plastics Consumption Outlook
Glass Consumption Outlook
Policies and Regulations
Historical growth of top players
Growth in associated markets
Net trade scenario
Apparent production capacity
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