Dyes and Pigments Market: Analyzing Consumer Preferences
Author : scott Bang | Published On : 08 Apr 2024
Dyes and Pigments Industry Data Book | Forecast 2030
Grand View Research’s dyes and pigments sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.
The economic value generated by the dyes and pigments industry was estimated at approximately USD 38.18 billion in 2022. This economic output, driven by the growth of end-use industries such as textile, construction, and plastics, is the major factor for the high demand for dyes & pigments.
Access the Global Dyes and Pigments Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
The global dyes and pigments market has witnessed remarkable growth as it is primarily used in key end-use industries such as textiles, construction, and plastics, to name a few. The textile industry is one of the largest end-users of dyes and pigments, with a wide range of applications in the production of clothing, home textiles, and other textile-based products. The construction industry with applications in the production of architectural coatings, automotive coatings, and other industrial coatings. The plastics industry is also a significant end-user of pigments, with applications in the manufacturing of plastic products such as packaging, consumer goods, and industrial components.
Textile industry is witnessing growth due to several factors such as a growing population, increasing disposable income, and changing consumer trends. It is one of the major applications for dyes and pigments and is expected to propel product demand over the forecast period. Factors such as robust demand, policy support, increasing investments, and competitive advantage are driving the textile industry, especially in Asian countries, such as China is the largest textile producer in the world, accounting for around 36% of global textile production. Other major textile producers in the Asia Pacific region include India, Bangladesh, and Vietnam.
For instance, according to the India Brand Equity Foundation, the Indian textile industry size was approximately USD 220 billion in 2020. Abundant raw material availability is a key advantage to the Indian textile market. For example, in 2021-2022, cotton production reached 33.8 million bales in the country. This is a positive sign of the increasing demand for dyes.
Order your copy of the Free Sample of “Dyes and Pigments Industry Data Book - Dyes Market and Pigments Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Dyes Market Growth and Trends
Dyes accounted for an industry share of nearly 67% in 2022. Dyes play a significant role in various industries, including textiles, printing inks, paints, plastics, and cosmetics. Dyes are substances that impart color to materials through a process called dyeing. They are used to enhance the aesthetic appeal of products, provide color fastness, and create a wide range of shades and hues.
The use of cutting-edge technologies like nanotechnology and biotechnology in the production of dyes is boosting product performance and improving production efficiency. For instance, Lanxess recently announced plans to increase its production capacity for Macrolex dyes by 25% through an investment worth USD 5.68 million, in response to the growing demand for dyes market across the world.
Go through the table of content of Dyes and Pigments Industry Data Book to get a better understanding of the Coverage & Scope of the study
Pigments Market Growth and Trends
Pigments accounted for an industry share of over 32% in 2022. The pigments market is vital to various industries, including paints and coatings, plastics, printing inks, construction, and automotive. Pigments are finely ground solid particles that provide color and opacity to materials. Unlike dyes, which dissolve in the substrate, pigments are insoluble and dispersed in binders or carriers. Pigments are used to provide color, opacity, and durability to paints and coatings, allowing for the creation of vibrant and long-lasting finishes. They are available in various forms, including organic and inorganic pigments, each offering unique properties and color options.
The growing adoption of digital printing technology is driving the demand for specialized pigments that offer high color vibrancy and durability. The strong presence of global players, such as BASF SE, Clariant AG, and Evonik Industries, is also contributing to the growth and development of the dyes and pigments market across the globe. These companies have a strong presence in the European market and are known for their investment in research and development of new and innovative pigment production methods, as well as their commitment to sustainability and eco-friendliness.
Competitive Insights
The market players are actively conducting research and development to create high-quality colors with enhanced features. They are also forming technological collaborations such as mergers & acquisitions, new product launches, and expansions to further support their R&D efforts. For instance, in July 2021, Sun Chemicals, DIC Crop acquired BASF SE’s global pigment business which is known as BASF Colors & Effect (BCE). Also, In May 2022, Cabot Corporation announced the expansion of its inkjet manufacturing facility located in Haverhill, Massachusetts. The expansion will increase the global capacity of color aqueous pigment.
The primary distribution channels these companies utilize for their products are their own internal channels, with some utilization of third-party channels. These companies prioritize the expansion of their geographical presence as a key strategy to enhance their market share. The global dyes and pigments industry is characterized by a high level of fragmentation, owing to the significant number of manufacturers operating worldwide.
The global dyes & pigments market is characterized by some major players such as BASF SE, Clariant AG, DIC Corp, Sudarshan Chemical Industries Limited., and Huntsman Corp. These companies are dyes and pigments manufacturers that cater their products to various companies engaged in paints & coatings, automotive, textile, printing inks, and construction industries.
Check out more Industry Data Books, published by Grand View Research
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com/sector-reports-list
