Prussian Blue Market Size, Share & COVID-19 Impact Analysis, By Grade (Industrial Grade, Laboratory Grade, and Others), By Application (Pharmaceutical, Paint and Ink, Battery Materials, and Others), and Regional Forecast, 2024-2032

The prussian blue market size is primarily driven by the paint and ink industry. It is a classic choice for artists due to its intense and rich blue color. It is widely used in oil and acrylic paintings and offers excellent color quality and durability. In addition, it is used in architectural paints for interior and exterior applications, adding a distinctive blue color to buildings, walls, and structures. Also, in the automotive industry, its pigments are used for car coatings and finishes, contributing to vehicle color diversity.

The pharmaceutical industry also drives the market. In medicine, it is an antidote for heavy metal poisoning, particularly thallium and radioactive cesium or non-radioactive thallium poisoning. It binds to these toxins in the gastrointestinal tract, preventing absorption. In addition, in radiation therapy for cancer treatment, prussian blue can encapsulate certain radioactive isotopes such as cesium 137 or thallium 201, making them safer to handle and administer to patients. 

• The government and authorities in Brazil faced a tragic accident resulting from the misuse of radioactive medical teletherapy, which is not under radiation protection surveillance. The government has taken several measures to strengthen control over such sources in the future.

Moreover, prussian blue can act as a chemical indicator as it changes color when it reacts with certain substances. This property has applications in chemical analysis and titrations. Furthermore, it can be used in electromagnetic material, which changes color in response to an electrical charge. The aforementioned wide range of applications will drive the prussian blue market growth during the forecast period.

• The U.S. accounts for about 45% of global pharmaceutical sales and approximately 24% of global production.

The major producers by country are China, Japan, and India in Asia Pacific; the U.S. and Canada in North America; Germany and France in Europe; and Saudi Arabia and the UAE in the Middle East.

• In 2022, revenue generated by the pharmaceutical sector in the U.S. was USD 600 billion.


• Revenue generated by the pharmaceutical sector in Europe was USD 215 billion in the year 2022.

Segmentation

Key Insights

The report will cover the following key insights:

• Key Market Trends

• The Regulatory Scenario of the Market.


• Key Developments in the Market.


• Latest Technological Advancement


• Impact of COVID-19 on the Market.

Analysis by Grade

By grade, the industrial grade segment holds a significant market share.

• Industrial-grade prussian blue is widely used in applications such as paints, textiles, color, inks, and other commercial products. It is widely used in paints and inks as it is water resistant, non-toxic, and offers excellent free-flowing ink. Due to these factors, the market is projected to expand in the coming years.


• Industrial-grade prussian blue can be used as a precursor to producing ferricyanide, which finds applications in various chemical processes, including gold and silver extraction in mining. In addition, it is used in textile dying to impart a blue color to fabrics, especially in denim production.

Analysis by Application

By application, the pharmaceutical and paint & ink segments collectively account for a major share of the market.

• Increasing demand for medicines for metal poisoning treatment will drive the consumption of prussian blue.


• Prussian blue-based inks and stains are used in various applications, including laboratory staining and the production of blueprints. In addition, rising demand for various types of inks, such as blue-gray and blue-black, is expected to significantly boost the market in the forecast period.

Regional Insights

Asia Pacific held a significant prussian blue market share in 2022. Increasing demand for battery materials due to rapid expansion in electric vehicle production in China has driven the sales of battery-grade prussian blue. In addition, the rising demand for pharmaceutical and cosmetic products, especially in China and India, expands the regional market. North America and Europe are expected to drive the market moderately over the forecast period. Rising demand for cosmetics for makeup is anticipated to drive the market in this region.

Leading paint exporting countries by value in the year 2021,

• Germany -  USD 4,250 Million


• U.S. -  USD 2,560 Million


• Japan -  USD 2,200 Million


• Italy -  USD 1,900 Million


• France -  USD 1,350 Million

Key Players Covered

The report will include the profiles of key players, such as BHAVANA INDUSTRIES, Spectrum Chemical, Arxada AG, Central Drug House‎‏‏‎, Macsen Labs, Flash Battery Srl, Lilychem, MALION, XIAMEN TOB NEW ENERGY TECHNOLOGY Co., LTD, and Ronbay.

Key Industry Developments

• In October 2022, Arxada AG collaborated with Natron Energy Inc. to initiate large-scale production of prussian blue to manufacture batteries. This production facility has begun at Visp, Switzerland, to produce 600 MW battery capacity annually.


• In March 2023, MALION announced that it would acquire Huihong pigment to expand its Na-ion battery production capacity. Huihong will operate as a subsidiary of MALION New Materials.