Author: Vikas Kumar
11 July 2022
The Global Dyes and Pigments Market is expected to register significant growth with a CAGR of around 5% over the period of 2021-2027. This is mainly due to the rise in demand from important application domains such as food coloration, medicines, handicrafts, leather processing, textiles, cosmetics, plastics, photography, and paper industries. Furthermore, the rapidly increasing printing and packaging sectors have seen a surge in demand for dyes and pigments. The rapid growth in the packaging industry can be attributed to the rising adoption of e-commerce and online shopping. For instance, according to a report by the Indian Brand Equity Foundation (IBEF), the Indian e-commerce market is expected to grow to US$ 188 billion by 2025 from US$ 46.2 billion in 2020. Moreover, the rising government initiatives toward the textile market are also projected to positively impact the dyes and pigment market. However, due to rising anti-plastic sentiment, of which dyes and pigments are a prominent sub-segment, the dyes and pigments market may face growth challenges.
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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.
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.
For a better understanding of the market adoption of the dyes and pigments industry, the market is analyzed based on its worldwide presence in the countries such as 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 holds the biggest market share and is expected to witness the highest CAGR during the forecast period on account of the rapidly growing middle-class population, which fuels the textile and plastic demand. The pigments and dyes market will majorly be concentrated in the Asia Pacific region, mainly due to lenient environmental laws, cheap labor costs, easy availability of low-cost raw materials, and higher market demands.
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Some of the major players operating in the market include BASF SE, DIC Corporation, Clariant, Sudarshan Chemical Industries Ltd., Huntsman International LLC., Atul Ltd., Cabot Corporation, DuPont, Kiri Industries, KRONOS Worldwide. These major corporations are heavily investing in research & development divisions for superior-quality dyes and pigments.
Global dyes and pigments Market Segmentation
Market Insight, by Type
Market Insight, by Application
Market Insight, by Region
Top Company Profiles
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