The paper focuses on Image Compression, explaining efficient approaches based on Frequent Pattern Mining(FPM). The proposed compression mechanism is based on clustering similar pixels in the image and thus using cluster identifiers in image compression. Redundant data in the image is effectively handled by replacing the DCT phase of conventional JPEG through a mixture of k-means Clustering and Closed Frequent Sequence Mining. To optimize the cardinality of pattern(s) in encoding, efficient pruning techniques have been used through the refinement of Conventional Generalized Sequential Pattern Mining(GSP) algorithm. We have proposed a mechanism for finding the frequency of a sequence which will yield significant reduction in the code table size. The algorithm is tested by compressing benchmark datasets yielding an improvement of 45% in compression ratios, often outperforming the existing alternatives. PSNR and SSIM, which are the image quality metrics, have been tested which show a negligible loss in visual quality.