Dyes and Pigments Market: Current Analysis and Forecast (2021-2027)

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Global Dyes and Pigments Market is expected to register a CAGR of around 5% over the period of 2021-2027. Dyes and pigments are the colorants that are used to impart color to a material. Both are powerful colorants and are used in textile, pharmaceuticals, food, cosmetics, plastics, paint, ink, photographic, and paper industries. Dyes are finer than pigments and unstable under UV rays, while pigments show great stability even under UV rays. Since dyes get absorbed onto the applied surface, the better application is observed in fields like paints, coatings, surface protection, and corrosion prevention. Due to the broad-spectrum usage, the dyes and pigments market is expected to showcase significant growth over the forecast period. Moreover, during the pandemic, the packaging industry started booming, which led to a substantial increase in the printing ink industry, required for packages. This expanded the dye and pigment market share by a great margin. Moreover, according to recent reports, the government of India allocated funds worth Rs. 17,822 crores (US$ 2.38 billion) between FY16 and FY22 for the ‘Amended Technology Up-gradation Fund Scheme’ (A-TUFS), to boost the Indian textile industry and enable ease of doing business. This will promote the growth of not just the textile, but the dyes and pigments industry as well.

Furthermore, according to a World Bank report, lack of clean water limits economic growth by One-third. Additionally, factors like water pollution, high metal content in pigments, and excess water usage during the production of dyes and pigments pose serious environmental threats and may hamper the market growth in certain regions.

BASF SE, DIC Corporation, Clariant, Sudarshan Chemical Industries Ltd., Huntsman International LLC., Atul Ltd., Cabot Corporation, DuPont, Kiri Industries, and KRONOS Worldwide are some of the major players in this market. These major corporations are heavily investing in research & development divisions for superior-quality dyes and pigments.

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Insights Presented in the Report

“Amongst Type, Dyes category accounted for the majority share in the market in 2020”

Based on Type, the market is separate for both dyes and pigments. Dyes are classified into reactive dyes, disperse dyes, VAT dyes, direct dyes, and acid dyes. While pigments are allocated into inorganic and organic. Reactive dyes grabbed a considerable market share, due to their inherent properties like anti-fading and availability in a range of bright shades. In pigments, Inorganic ones are preferred due to better wettability, darker colors, and leanness.

“Amongst Application, printing ink market is expected to witness highest CAGR during the forecast period”

Based on Application, the market is segmented into textile, paints & coatings, plastics, leather, paper, printing ink, and others. The textile segment took a significant market share in 2020. However, the printing ink segment is anticipated to grow with a lucrative CAGR during the projected timeframe owing to the rapidly growing digital printing sector.

“APAC to witness significant growth during the forecast period”

Based on Region, the market is divided into North America (US, Canada, Rest of North America); Europe (Germany, France, UK, Italy, and Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific); and Rest of World. Asia-Pacific is the population hub and shows the highest market share. This is mainly due to lenient environmental laws, cheap labor costs, and the easy availability of low-cost raw materials.

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global dyes and pigments market were the three major steps undertaken to create and analyze the adoption of dyes and pigments in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global dyes and pigments market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of dyes and pigments market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the dyes and pigments market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of dyes and pigments market. Further, we conducted factor analysis using dependent and independent variables such as various types and application of dyes and Pigments. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the dyes and pigments market sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global dyes and pigments market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• the industry’s market size, in terms of revenue (USD) and the adoption rate of dyes and pigments market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global dyes and pigments market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global dyes and pigments market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and application in the global dyes and pigments market.

The main objective of the Global Dyes and Pigments Market Study

The current & future market trends of the global dyes and pigments market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of dyes and pigments market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type and application.
• Define and analysis of the regulatory framework for the dyes and pigments market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the dyes and pigments market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
• Company profiles of the dyes and pigments market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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