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CHEMICALS AND ADVANCED MATERIALS

Dyes and Pigments Market Analysis by Product {Dyes (Reactive, Vat, Acid, Direct, Disperse, and Others), and Pigments (Organic, and Inorganic)}; and by Application {Dyes (Printing Inks, Textiles, Paper, Leather, and Others), and Pigments (Plastics, Paints & Coatings, Construction, Printing Inks, and Others)} – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • DIC Corporation and Good Chemistry Company has joined hands to perform quantum chemistry simulations, with the goal of leveraging quantum technology to expand its materials development business.

  • Clariant International Ltd has launched D3 PROGRAM to bring sustainable solutions in the oil and gas industry. The initiative is expected to reduce carbon emissions and enhance safe operations, while avoiding disruption.

Global Dyes and Pigments Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~5%

Base Year Market Size (2022)

~ USD 40 Billion

Forecast Year Market Size (2033)

~ USD 65 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

Global Dyes and Pigments Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global dyes and pigments market is estimated to garner a revenue of ~ USD 65 Billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 40 Billion in the year 2022. The primary growth factor for the expansion of the market in the assessment period is the boom in textile industry. Dyes and pigments are primarily used to color the fabrics and textiles that are further used for various processes. As per a recent report, it was estimated that the global textile industry garnered around USD 920 billion in 2018. This growth figure of the industry is projected to reach approximately USD 1,230 billion by 2024, with a steady CAGR of nearly 5%.

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Dyes and pigments are used in multiple applications in processes of textile industries. Owing to increased environmental awareness, and its long lasting properties, dyes and pigments are highly consumed in textile industry. Thus, the growth in businesses in textile industry is expected to increase the adoption rate of dyes and pigments in the upcoming years. Recently, it was calculated that in 2021, the number of textile and cloth manufacturing companies in the European Union was totaled to be 143,000.

Global Dyes and Pigments Market: Growth Drivers and Challenges

Growth Drivers

  • Rise in the Construction Industry – The availability of dyes in a wide variety of forms such as granules, liquids, pastes, pebbles, and many more makes dyes and pigments a preferred choice in the fields of decoration, aesthetic, and art of the construction industry. The growth in the construction industry is anticipated to raise the sales of dyes and pigments. The revenue collected by the global construction industry was almost USD 2 trillion in 2019.

  • Boom in the Paint and Coatings Industry – Due to rapid industrialization, there has been an increase in the use of paints and coatings for imparting colors to a material. Thus, the increasing demand for paints and coatings is further expected to boost the dyes and pigments market. The global paint and coating industry was estimated to be valued at approximately USD 160 billion in 2020.

  • Development in Chemical Industry – The global chemical industry in the year 2021, generated a revenue of approximately USD 5 trillion.

  • High Investment in Research and Development Activities – The World Bank revealed the statistics of the expenditure made in the research and development sector in 2020, which amounted to 2.63% of the total GDP. This was a rise from 2.14% of the total GDP in 2016.

 Challenges

  • Frequent Changes in Regulatory Standards

  • Additional External Expenses - The high costs included in various stages is expected to pose as a challenge as it becomes difficult for the population with middle income or startups to incorporate pressure sensitive adhesives in use of varied processes.

  • Stringent Government Rules

The global dyes and pigments market is segmented and analyzed for demand and supply by application into dyes and pigments. The dyes segment is further segregated into printing inks, textiles, paper, leather, and others. Out of these the textiles segment is attributed to garner the highest market share in the forecast period, owing to the huge production of textile fibers owing to high demand from various end-use industries. According to recent data, the worldwide production volume of textile fibers rose from 100 thousand metric tons in 2017 to 110 thousand metric tons in 2020.

Global Dyes and Pigments Market Regional Synopsis

The Asia Pacific dyes and pigments market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The primary reason for the market growth in the region is the rising population, along with their increasing demand for and manufacturing of textiles. Recent statistics revealed that China was the top-ranked global textile exporter in 2021 with a value of approximately USD 118.5 billion, almost 52% of the total textile export market in Asia. Bangladesh is also a leading textile exporter, with a value of around USD 39 billion. Another growth factor in the market is the high involvement of the population in the clothing industry. According to the International Labor Organization, around 65 million people are employed in the garment sector in Asia-Pacific, which accounts for 75% of all garment workers worldwide.

dyes and pigment market share

Market Segmentation

Our in-depth analysis of the global dyes and pigments market includes the following segments:

             By Product

  • Dyes
  • Reactive dyes
  • Vat dyes
  • Acid dyes
  • Direct dyes
  • Disperse dyes
  • Others
  • Pigments
  • Organic
  • Inorganic

            By Application

  • Dyes
  • Printing Inks
  • Textiles
  • Paper
  • Leather
  • Others
  • Pigments
  • Plastics
  • Paints & Coatings
  • Construction
  • Printing Inks
  • Other

Top Featured Companies Dominating the Global Dyes and Pigments Market

  • Clariant International Ltd

    •  Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • DIC Corporation
  • Sudarshan Chemical Industries Limited
  • Atul Ltd
  • BASF SE
  • Huntsman International LLC
  • Cabot Corporation
  • Tronox Incorporated
  • DuPont de Nemours, Inc.
  • KRONOS Worldwide, Inc.

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