Dyes and Pigments Market Share

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%.