The swelling consumption of plastics, textiles, and inks are favoring growth in the global phthalocyanine blue market. In the past few years, the global phthalocyanine blue market has recorded substantial growth and is expected to improve in the forthcoming years. The expanding range of applications and demand in plastics and paints is fueling growth in the market.

 

An upcoming Transparency Market Research report will throw insights into the prevailing and future trends in the global phthalocyanine blue market. It will provide details about the current market overview, key trends, challenges, opportunities, and the growth prospects for 2018-2026.

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Global Phthalocyanine Blue Market: Drivers and Restraints

 

The product is widely used in paints, inks, and plastics. It is an insoluble material, and hence cannot migrate into the material. Furthermore, it is an excellent colorant and is known for its lightfastness- the property of fading away when exposed to light. Phthalocynaine blue does not fade away easily. These favorable properties of the dye make it highly important in various industries, thus augmenting demand in the global phthalocyanine blue market.

 

One of the major applications of the product is paints. The steep rise in infrastructure projects, especially in developing countries, is propelling the demand for paints. Furthermore, the growing demand for furniture and interior designing is also pushing growth in the global pthalocyanine blue market.

 

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The most important area of application for phthalocyanine blue is ink. While many educational institutions might have migrated to digital learning, writing is still an integral part of education. This will inflate the demand for ink. Further, due to its phenomenal coloring property, the product is considered ideal for inks, escalating demand in the global phthalocyanine blue market.

 

Further, plastics is another area where the demand is developing for phthalocyanine blue. The swelling consumption of plastics in several industries ranging from automobiles to electronics will fuel demand for the product. These aspects are considered key for growth in the global phthalocyanine blue market.

 

However, reports on the harmful effects of phthalocyanine blue on the health of people are worrying for companies. But, technology has come to their rescue as they are increasingly investing on identifying methods to degrade effluents after use in the industries. This is predicted to maintain hope among players in the global phthalocyanine blue market.

 

Global Phthalocyanine Blue Market: Geographical Distribution

 

Geographically, North America is expected to dominate the global phthalocyanine blue market. The rising consumption of electronics, plastics, paints, and printing ink will support growth in this region. Europe, on the other hand, is expected to maintain its momentum and will remain significant for the global phthalocyanine blue market. Asia Pacific will be the target region for most players. The rising literacy levels and booming corporate sector will instill growth in the global phthalocyanine blue market.

 

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Global Phthalocyanine Blue Market: Competitive Dynamics

 

The global phthalocyanine blue market is marked by the presence of several players. Some of them are Nanavati Group, Kolorject Chemicals, and Kesar Petroproducts Ltd. The efforts to identify innovative techniques to degrade industrial effluents are helping established players sustain in the global phthalocyanine blue market. Meanwhile, they are also adopting organic strategies like acquisitions and mergers with small and regional players.