Global Dyes & Pigments Market - 2021-2028
Global Dyes & Pigments Market Overview
The global dyes & pigments market size was worth US$ XX billion in 2020 and is estimated to record significant growth by reaching up to US$ XX billion by 2028, growing at a CAGR of XX% within the forecast period (2021-2028).
Dyes and pigments are substances that impart color to a material. The term colorant is used for both dyes and pigments. The particle size is the main distinction that separates dyes and pigments. However, P\pigments are much coarser than dyes. As a result, dyes are typically not UV stable, whereas pigments are. Dyes, also known as colorants, are dissolved in liquid and then absorbed into the material to which they are applied.
On the other hand, Pigments consist of extremely fine particles of ground coloring matter suspended in liquid, which forms a paint film that bonds to the surface it is applied to. Paints are in great demand in paints, food, inks, cosmetics, fabric, etc. On the other hand, Dyes are used to painting textile, paper, wood, bamboo, shoe polish, etc.
Dyes & Pigments Dynamics
The increasing demand for pigments and dyes from the packaging industry is one of the prime factors triggering the growth of the dyes and pigments market. The growing textile industry is another factor creating immense opportunities for the dyes and pigment market to proliferate in the near future.
Increasing demand for printing ink from the packaging industry is one of the prime factors triggering the market growth of the dyes and pigments market
Improving demand for dyes and pigments from different packaging industries is building the market for the product. Furthermore, improving the e-commerce business and increasing demand for foreign shipping of non-consumer products is expected to accelerate the packaging sector within the forecast period. Paper packaging has gained popularity in the packaging and printing ink industries due to its durable design property. Furthermore, strong demand for news-printing, packaging printing, publishing and other industrial printing industries are projected to add value to the growing market of dyes and pigment in the forecast period.
The growing textile industry is another factor creating immense opportunities for the dyes and pigment market to proliferate in the near future
The textile industry is a rapidly expanding market, with China, the European Union, the United States, and India as major competitors. China is the world's largest producer and exporter of raw textiles and finished garments. The US is the world's largest producer and exporter of raw cotton and the world's largest raw textiles and garments importer. The European Union's textile industry is led by Germany, Spain, France, Italy, and Portugal, with a combined value of more than 1/5th of the global textile industry. India has the world's third-largest textile manufacturing industry, accounting for more than 6% of total textile production. Since the textile industry is changing, dyes used in textile applications are changing to meet the fashion industry's rapidly changing demands. Polyesters, for example, are a big consumer of disperse dyes. During the summer, cotton fabrics are more common, which increases the demand for vat, reactive, and direct dyes. Thus improving the textile market creates huge opportunities for the dye and pigments market in the recent period.
Increasing environmental concerns and stringent government policy across the globe are anticipated to limit market growth over the forecast period.
The EDA has released the list of dyes and pigment residues as hazardous chemicals under the EPA hazardous waste K181. The release of untreated wastewater into the atmosphere is a significant environmental threat in the dyes and pigment manufacturing industries. Since organic N-based impurities in water are harmful, they harm aquatic life cycles, plants, and animals. Around 36 facilities nationally produce and maintain dye and pigment production, which this legislation may theoretically impact. As per the EPA report, these installations generate around 36,000 metric tons of potentially affected waste annually. Thus the waste generated by the industries is more likely to hamper the growth of dyes and pigments market share in the forecast peirod.
COVID-19 Impact Analysis
COVID-19 had a negative effect on the industry. Various nations went into lockdown due to the pandemic, causing supply chain delays and work stoppages-this harmed demand in various industries, including paints and coatings, textiles, and others. However, conditions are expected to improve in the coming years, restoring the market's growth trajectory over time. Furthermore, due to the coronavirus outbreak, the customer is also unwilling to invest their money in buying textile goods, thus severely hampering the growth of the product in the 2019-2020 period.
Dyes & Pigments Market Segment Analysis
The global dyes & pigments market is segmented based on type, end-user and region.
Reactive dyes have a high fade resistance and come in a variety of bright colors, making them ideal for coloring cotton and rayon.
In terms of type, the global dues and pigments market is segmented into dyes and pigments. Dyes can be further DIVIDED into reactive dyes, sulfur dyes, VAT dyes, disperse dyes, acid dyes, direct dyes, basic dyes, and others. In 2020, the reactive dyes segment dominated the industry, accounting for more than 56% of total revenue. These dyes are made up of strongly colored organic substances and are used mostly in the tinting of textiles. They have a high fade resistance and come in various bright colors, making them ideal for coloring cotton and rayon.
Moreover, during the process of dying, they can form a covalent bond with the fiber. It also includes a parent dye, a linking group, and an active group. These advantages allow them to possess characteristics, which are superior and preferable over other dyes used in cellulose fibers. During the forecast era, the segment is expected to grow at the fastest CAGR.
Dyes & Pigments Market Geographical Analysis
China has the largest share of the global textile industry, accounting for around 40%, followed by India, which accounts for about 5%, which makes Asia-Pacific the dominating region for dyes and pigment in the recent period
With the availability of a cheap labor force, the textile industry in China and India is rapidly expanding. China has the largest share of the global textile industry, accounting for around 40%, followed by India, which accounts for about 5%, making Asia-Pacific the dominating region for dyes and pigment in the recent period. South Korea's textile demand has remained stable, with a growing preference for producing technical textiles in the region. Manufacturers can concentrate on producing high-end textiles in the country thanks to a large domestic man-made fiber industry and a healthy non-woven production market. Thus, improving the textile business in the region accelerates the growth of the dyes and pigment market in the recent period and is expected to maintain the momentum in the forecast period.
Dyes & Pigments Market Competitive Landscape
The dyes & pigments market is highly fragmented with the presence of local and global key players. Some of the key players contributing to the market's growth include E. I. du Pont de Nemours and Company, Ferro Corp, Flint Group, Heubach GmbH, Cathay Pigments, Inc., Sun Chemical Corporation, Dainichiseika Color & Chemicals Mfg. Co., Ltd, Lanxess AG, Merck KGAA, Huntsman International, LLC and among others.
The major players adopt several growth strategies such as product launches, acquisitions and collaborations, contributing to the dyes & pigments market's growth globally. The key manufacturers are following expansion and collaboration as the key strategy to build revenue for the company.
Overview: Merck is a growing science and technology company, operates across different domains such as life science, healthcare, and performance materials. Nearly 57,000 employees work in the company to make a positive difference in millions of people's lives. The is focusing on advancing gene-editing technologies coupled with discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices
Colorona: Colorona® pigments have unusually deep colors, combining deep absorption color with an interference-effect. When pearl shine and color are combined in one effect pigment, the color effect is substantially more vibrant than when the two components are mixed separately.
The global Dyes & Pigments market report would provide access to an approx: 53 market data tables, 43 figures and 265 pages.
Target Audience 2022
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