Market Research Future (MRFR) assessed the global dyes and pigments market 2021 for the analysis period till 2027. As per MRFR data, the global dyes and pigments market is likely to rise at 5% CAGR during the forecast tenure (2020–2027). By 2027, the dyes and pigments market value can touch around USD 43 Bn.
Key Players
DIC CORPORATION (Japan), Clariant (Switzerland), Huntsman International LLC (US), Archroma (Switzerland), DyStar (Singapore), LANXESS (Germany), Kiri Industries Ltd (India), BASF SE (Germany), Heubach GmbH (Germany), DCL Corporation (Canada), Neelikon (India), Cabot Corporation (US), and Atul Ltd (India) are some top-notch companies that are functioning in the dye and pigment market that are listed by MRFR.
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Market Drivers and Restrains
The increase in need for dyes and pigments in the expanding leather and textile industries can prompt the market in the near future. Other high-end users are paper and plastics industries that can promote the market in the years ahead.
The textile industry has high demand for quality and vibrant color for their fabrics. The rise in consumer awareness about modern fashion trends and surge in purchase power can favor the pigment and dye market. In addition, textile manufactures are producing apparels with vibrant colors that are observed to gain popularity among people. The availability of highly efficient and eco-friendly dyes is another cause that can support the market upsurge.
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The leather industry is likely to play significant role in the rise of the pigment and dye market. The growing utility of synthetic and natural dyes to add aesthetic appearance to leather materials can support expansion of the market in the years ahead.
The plastics industry is another end user of colorants that use dyes and pigment to improve quality and usability. Plastic is one of the sought-after commodities and the surge in applications can add momentum to the dye and pigment market in the foreseeable future.
Market Segmentation
The segment study of the dye and pigment market is based on end-use and type.
The type-based segments of the dye and pigment market are pigments and dyes. The dye segment can hold around 65 to 70% share of the market. The growing demand for environment-friendly dyes can promote the market rise in the near future.
The end-use-based segments of the dye and pigment market are paints and coating textile, leather, printing inks, paper and pulp, and plastic. The textile industry is expected to rise at high pace and secure around 50% share of the entire market. The high utility of dyes in the growing textile sector for fabrics, such as; silk, cotton, synthetic polyesters, wool, polyolefin, acrylics, and polyamides fibers can favor the market in the near future. The surge in demand for pigments in for digital textile printing applications can also underpin the expansion the segment. The paints and coatings industry segment is anticipated to thrive.
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Regional Study
In North America, the global dye and pigment market is likely to acquire 15% share of the worldwide market. The increase in demand for printing inks and dyes that are used in digital textile printing are can prompt North America dye and pigment market through the review period.
In Europe, the global dye and pigment market is likely to register a decent CAGR by 2027. The growth of construction sector and surge in the utility of synthetic dyes can limit the market rise in the review tenure.
In Asia Pacific, the market of dye and pigment is expected to hold about 60% share of the market across the review period. The increase in demand for pigments and dyes in the growing textile industry and construction sectors in India and other APAC regions can promote the market rise. The Chinese market is identified as one of the largest country-level market by MRFR analysts. The presence of numerous textile producers in China makes it a lucrative region in APAC to churn out substantial revenue. In addition, the availability of low energy costs, skilled labor , and affordable raw materials can benefit Asia Pacific dye and pigment market.
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In Latin America, the dye and pigment market is expected to rise as the construction sector is likely to grow in the developing economies.
In Middle East & Africa, the market of dye and pigment is expected to garner decent revenue as construction and textile industries that are high end-consumers are observed to rise at high pace.
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