Dyes and Pigments Market Trends

Growth Drivers

Rise in the Construction Industry to Boost the Demand for Dyes and Pigments – The revenue collected by the global construction industry was almost USD 2 trillion in 2019.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, aesthetics, and art in the construction industry. The growth in the construction industry is anticipated to raise the sales of dyes and pigments in the upcoming years.

Boom in the Paint and Coatings Industry – Owing to rapid industrialization, there has been an increase in the use of paints and coatings for imparting colors to materials. Thus, the increasing demand for paints and coatings is further expected to boost the global 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 across the Globe – 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 global 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

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
Frequent Changes in Regulatory Standards

Dyes and Pigments Market: Key Insights

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 the Middle East and Africa)

Frequently Asked Questions (FAQ)

Rise in the construction industry and are boom in the paint and coatings industry the major factors driving the market growth.

The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023-2033.

Frequent changes in regulatory standards are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are DIC Corporation, Sudarshan Chemical Industries Limited, Atul Ltd, BASF SE, Huntsman International LLC, Cabot Corporation, Tronox Holdings plc, DuPont de Nemours, Inc., Kronos Worldwide, Inc., and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product, application, and by region.

The dyes segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Dyes and Pigments Market Trends