Dyes and Pigments Market size is anticipated to cross USD 65 Billion by the end of 2033, growing at a CAGR of 5% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of dyes and pigments was around USD 40 Billion.The growth of the market can be attributed to the growing textile industry across the globe exhibiting high demand for dyes and pigments. Moreover, dyes and pigments are primarily used to color the fabrics and textiles that are further used to make clothes, automotive interiors, decorative curtains, bedsheets, sportswear, protective clothing, and others. For instance, the retail sales for the footwear and apparel were estimated to reach approximately USD 2 trillion in 2019 across the globe.
Global dyes and pigments market trends such as, growth in businesses in textile industry to boost the adoption rate of dyes and pigments in the upcoming years are expected to propel the market growth over the forecast period. 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. Dyes and pigments are used in multiple applications in processes of textile industries. Furthermore, owing to increased environmental awareness, and its long-lasting properties, dyes and pigments are highly consumed in textile industry.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~5% |
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Base Year Market Size (2022) |
~ USD 40 Billion |
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Forecast Year Market Size (2033) |
~ USD 65 Billion |
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Regional Scope |
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Product {Dyes (Reactive, Vat, Acid, Direct, Disperse), Pigments (Organic, Inorganic)}
The global dyes and pigments market is segmented and analyzed for demand and supply by application into dyes and pigments. Out of the two types of application, the dyes segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the rising demand for dyes to impart colors to paper, leather, textile and others. 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.
Application {Dyes (Printing Inks, Textiles, Paper, Leather), Pigments (Plastics, Paints & Coatings, Construction, Printing Inks)}
Furthermore, the global dyes and pigments market is also segmented and analyzed for demand and supply by application into dyes and pigments. The pigments segment is expected to garner the second largest share in the market over the forecast period. The pigment segment is estimated to grow on the back of its higher adoption rate owing to the its excellent properties such as, high chemical, wetness, abrasion, and light resistance, free-mixing, small particle size, and others. Moreover, the pigment segment is additionally bifurcated into plastics, paints & coatings, construction, printing inks, and others, out of which, paint & coating are projected to witness exponential growth over the forecast period. As of 2021, the demand for industrial coating was projected to hit around USD 100 billion which is further expected to grow exponentially as the construction of buildings rise.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Application |
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The Asia Pacific dyes and pigments market is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the rising population, along with their increasing demand and manufacturing of textiles in the region. 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. In addition to this, the dynamic upsurge in the production of industrial fabrics is also anticipated to boost the growth of market in the region over the projected time frame. Moreover, 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 since Asia Pacific has the largest population and the demand for clothes is high. In this region, countless religious beliefs are found, hence, the difference between the clothing styles is also expected to boost the demand for dyes and pigments. Additionally, Asia Pacific has a huge garment sector, which provides employment for millions of people. 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. Furthermore, Asia Pacific is also known to own the largest share in the global paint & coatings industry. As of 2021, the share hold by Asia Pacific in the paint & coatings industry was expected to be around USD 46%.
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.
Author Credits: Smruti Ranjan, Rajrani Baghel
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