The global dyes & pigments market is expected to reach USD 46.4 billion by 2025, growing at a CAGR of 4.9%, according to a new report by Grand View Research, Inc. Dyes & pigments are expected to witness significant growth in the consumption on account of high application scope coupled with increasing demand from printing inks application.
Increasing demand in Asia Pacific region from various applications such as textiles, construction, and plastics is anticipated to drive the market. Increasing consumers’ willingness to spend, industrialization, and rapid economic growth is anticipated to further propel the growth across the region.
Fast growing digital printing market is anticipated to provide a positive scope for printing inks industry, thereby driving the growth over the forecast period. Increasing food and beverage consumption is anticipated to drive the product demand further.
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Further key findings from the report suggest:
Reactive dyes were valued at USD 10.81 billion in 2016 owing to their high utilization in leather industry
Petrochemical derivatives such as benzene and naphthalene along with other reagents and inorganic chemicals are the key raw materials utilized in the industry
The Asia Pacific market is expected to witness rapid growth of 5.6% from 2017 to 2025. Stringent regulations in Europe have shifted the demand to Asia Pacific countries such as India and China
Growing construction industry across Asia Pacific region is anticipated to provide a positive outlook for the product demand over the forecast period
In April 2017, BASF SE signed a partnership with Landa Labs, which helped the company to serve automotive industry with new pigments utilizing nano pigment technology of Landa Labs
In May 2017, Clariant AG signed a merger with Huntsman, which strengthened business position of the company in pigments industry
The key players in the market include BASF SE, DIC Corporation, Clariant AG, Huntsman Corporation, Sudarshan Chemical Industries Limited, Atul Ltd, Cabot Corp, Dupont, Kiri Industries Ltd, Kronos Worldwide Inc, Lanxess AG, Tronox Ltd, and CPS Color AG
Grand View Research has segmented the global dyes & pigments market on the basis of product, application, and region:
Product Outlook (Volume, Kilo Tons, Revenue, USD Million, 2014 - 2025)
Natural Organic Pigments
Synthetic Organic Pigments
Natural Inorganic Pigments
Synthetic Inorganic Pigments
Application Outlook (Volume, Kilo Tons, Revenue, USD Million, 2014 - 2025)
Paints & Coatings
Regional Outlook (Volume, Kilo Tons, Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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