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Report Overview: Dyes And Pigments MarketThe global dyes and pigments market size was valued at USD 11.0 billion in 2020 and is anticipated to progress at a revenue-based CAGR of 4.9% from 2021 to 2027. Increasing demand from various applications such as textiles, paints and coatings, construction, and plastics are expected to drive market growth. Manufacturers of dyes and pigments are actively venturing into enhancing their products by utilizing advanced technologies for efficient removal of environmental and hazardous pollutants during the manufacturing process. Manufacturers of the products are likely to experience varied production costs due to volatility in the price of raw material such as benzene. A wide distribution channel in the market is achieved through both physical retail stores and online retailing. The availability of the product online has increased the consumer base for the companies and also witnesses higher reach which is anticipated to drive product demand. The growth in the construction industry, globally, has been a significant factor contributing to the demand for dyes and pigments. Countries such as the U.S., U.K., China, Indonesia, India, Saudi Arabia, and UAE are the major countries exhibiting significant global growth potential in the construction sector. A growing population coupled with increasing industrialization has encouraged governments to increase their construction spending to expand infrastructural development. As a result, increasing construction spending across the world is expected to create massive demand for dyes and pigments in the coming years. However, increasing environmental concerns are resulting in policy changes across the globe which is anticipated to restraint market growth over the forecast period 2021-2027. Factors such as high-water consumption in the textile industry to rinse dye, the solubility of the product, high metal content in pigments, and water pollution during the manufacturing processes are the major environmental threats caused by the market. Stringent regulations have been imposed in regions such as Europe, North America, and China which may challenge market growth.
Product Insights: Dyes And Pigments MarketReactive dyes lead the dyes and pigments market with a share of 55.7%, in terms of revenue, in 2019. These dyes are composed of highly colored organic substances and have primary application in tinting textiles. These have high resistance to fading and bright shade range which makes them suitable for coloring cotton and rayon. The consumption growth is projected to increase in regions such as the Asia Pacific and Central and South America. Reactive dye has the ability to form a covalent bond with the fiber during the process of dying. It also includes a parent dye, a linking group, and an active group. These advantages enable it to possess characteristics, which are superior and preferable over other dyes used in cellulose fibers. Inorganic pigments earned a higher share in the market as compared to organic pigments. Properties of inorganic pigments such as good wetting, darker color, and leanness are anticipated to provide a positive look for market growth over the forecast period. Organic pigments are anticipated to grow at a CAGR of 5.6%, in terms of revenue, from 2019 to 2027. Stringent regulations affecting the inorganic pigments are likely to provide positive scope for organic pigments through internal substitution of the product.
Application Insights: Dyes And Pigments MarketThe growing digital printing sector is anticipated to fuel the demand for dyes in printing inks application. Countries such as India and China are major producers of dyes which is likely to provide positive scope for printing inks application across the Asia Pacific region. Dyes are used in inks for giving the desired color and density. In comparison to pigments, dyes can produce more color and density per unit of mass. In order to restrict the soaking of dye-based inks into papers and prevent the ink to spread at the edges of an image, the dye-based inks are made with solvents and are made to dry rapidly. The dye-based inks have the ability to interact chemically with other ingredients. Hence, they give a better picture on addition of optical brighteners and color-enhancing agents, when compared to pigment-based inks. Thus, the advantages of dye-based inks coupled with growing printing inks market are anticipated to augment the demand for the product in the printing inks application segment.
Regional Insights: Dyes And Pigments MarketThe Asia Pacific was the dominant regional market and accounted for more than 62% of the global market share in 2019. The market faces strict regulations that obstruct the production and usage of dyes and pigments in North America and Europe. Thus, the production facilities are being shifted to the Asia Pacific owing to favorable manufacturing conditions and leniency in regulations. This is supported by the availability of raw materials, cheap labor, and skilled manpower. Europe accounted for over 18.1% of the overall revenue share in 2019. The increasing production capacities of dyes in Europe are an indication of its increasing demand. For example, in February 2018, Lanxess announced about expanding its production capacity for Macrolex dyes at its Leverkusen site. The capacity is expected to be increased by 25% and the investment is worth USD 5.7 million. The expansion aims at catering to the growing product demand across the globe.
Dyes And Pigments Market Share Insights: Dyes And Pigments MarketThe market is fragmented in nature with the presence of various key players such as
as well as a few medium and small regional players operating in different parts of the world. The global players face intense competition from each other as well as from the regional players who have strong distribution networks and good knowledge about suppliers and regulations. Major players in the market are involved in R&D for the production of superior quality colors that provide improved features. In addition, the companies are also adopting technological collaborations to increment the efforts in R&D activities for the company. The research and development unit of Atul Ltd. helped in reducing pollutants in about 23 products and improved the quality of about 22 products. Dyes and pigments are generally distributed by the company owned distribution channels, although third party distribution channels are also employed. The companies lay high emphasis on increasing the area of operation in order to increase the market share and drive the revenues of the company. The market has the presence of a large number of multinationals and small manufacturers operating their businesses through high production volumes. Companies are involved in launching new products to meet changing consumer trends. This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. Trusted Business Insights has segmented the global dyes and pigments market report on the basis of product, application, and region:
- BASF SE
- Clariant AG
- DIC Corporation
- Sudarshan Chemical Industries Limited
- Huntsman Corporation
- Atul Ltd.
- Cabot Corp
- Kiri Industries Ltd.
- Kronos Worldwide Inc.
- Lanxess AG
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Reactive Dyes
- Vat Dyes
- Acid Dyes
- Direct Dyes
- Disperse Dyes
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Printing Inks
- Paints & Coatings
- Printing Inks
Table of Contents Chapter 1 Methodology And Scope 1.1 Research Methodology 1.2 Research Scope & Assumptions 1.3 List of Data SourcesChapter 2 Executive Summary 2.1 Market SnapshotChapter 3 Dyes & Pigments Market Variables, Trends & Scope 3.1 Market segmentation& scope 3.2 Dyes & Pigments Market Value Chain Analysis 3.3 Raw Material Trend 3.3.1 Benzene 3.4 Market Dynamics | read more...