GVR Report cover Dyes & Pigments Market Size, Share & Trends Report

Dyes & Pigments Market Size, Share & Trends Analysis Report By Product (Pigments, Dyes), By Application (Paints & Coatings, Printing Inks, Textiles), By Region (APAC, Europe), And Segment Forecasts, 2021 - 2028

  • Published Date: Apr, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-1-68038-545-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 130

Report Overview

The global dyes and pigments market size was valued at USD 32.9 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2021 to 2028. Increasing demand from various application industries, such as textiles, paints & coatings, construction, and plastics, is expected to drive the market growth. Major producers are actively venturing into enhancing their products by utilizing advanced technologies for the efficient removal of hazardous pollutants during the manufacturing process. Manufacturers are likely to experience varied production costs due to volatility in the prices of raw materials, such as benzene. A wide distribution network in the market is achieved through both physical retail stores and online retailing.

U.S. dyes & pigments market size, by product, 2016 - 2028 (USD Billion)

Availability of the products on e-commerce platforms has increased the client base of market participants. Rapid growth in the global construction industry has also been a key growth-driving factor for the overall market. Countries, such as the U.S., the U.K., China, Indonesia, India, Saudi Arabia, and UAE, are the major countries exhibiting significant global growth potential in the construction sector.

The rising population coupled with rapid industrialization has encouraged governments to increase their construction spending for infrastructural development. Thus, increasing construction expenditure across the world is expected to create massive product demand in the coming years. However, increasing environmental concerns are resulting in policy changes across the globe, which is anticipated to restraint the market growth over the forecast period.

Factors, such as water pollution during the manufacturing processes, high metal content in pigments, and high water consumption in the textile industry to rinse dyes, are the major environmental threats. Stringent regulations have been imposed in regions, such as Europe, North America, and China, which may challenge the market growth.

Product Insights

The reactive dyes segment dominated the market with a revenue share of more than 56% in 2020. These products are composed of highly colored organic substances and have primary application in tinting textiles. They have a high resistance to fading and are available in a range of bright shades, which makes them suitable for coloring cotton and rayon. Moreover, they can form a covalent bond with the fiber during the process of dyeing. It also includes a parent dye, a linking group, and an active group. These advantages enable them to possess characteristics, which are superior and preferable over other dyes used in cellulose fibers. The segment is estimated to expand further at the fastest CAGR from 2021 to 2028.

Inorganic pigments earned a higher share in the market as compared to organic pigments due to properties, such as good wetting, darker color, and leanness. However, the organic pigments segment is anticipated to register the fastest CAGR of 5.6%, in terms of revenue, from 2021 to 2028. Stringent regulations affecting the inorganic pigments demand are also likely to provide positive scope for organic pigments through internal substitution of the product.

Application Insights

The textiles segment dominated the dyes market with a share of over 62%, in terms of revenue, in 2020. However, the printing inks segment is estimated to register the fastest CAGR from 2021 to 2028. The growing digital printing sector is anticipated to fuel the demand for dyes in printing inks application. Countries, such as India and China, are major producers of dyes, which is likely to provide positive scope for printing inks application across the Asia Pacific region.

Global dyes market share, by application, 2020 (%)

Dyes are used in inks for giving desired color and density. Dyes can produce more color and density per unit of mass than pigments. The dye-based inks have the ability to interact chemically with other ingredients. Hence, they give a better picture than pigment-based inks on the addition of optical brighteners and color-enhancing agents. These factors are anticipated to boost the product demand in the printing inks application segment.

Regional Insights

Asia Pacific was the dominant regional market and accounted for over 62% of the global revenue share in 2020. The market faces strict regulations that obstruct product usage as well as production in North America and Europe. Thus, the production facilities are being shifted to the Asia Pacific region owing to favorable manufacturing conditions and leniency in regulations. This is supported by the easy availability of raw materials and low-cost & skilled manpower.

Europe accounted for over 17% of the overall revenue share in 2020. The increasing production capacities of dyes in Europe is an indication of its increasing demand. For instance, in June 2020, Cathay Industries announced to expand its manufacturing footprint in South East Asia to meet the increasing demand for iron oxide pigments from the coating, plastics, and construction industries.

Key Companies & Market Share Insights

Major players in the market are involved in the research & development for the production of superior-quality colors that provide improved features. In addition, the companies are also adopting technological collaborations to boost the efforts in R&D activities. The products are generally distributed through the company-owned distribution channels; however, third-party distribution channels are also employed. The companies lay high emphasis on expanding the area of operation to increase their market share. The global dyes and pigments market is significantly fragmented owing to the presence of a large number of manufacturers across the globe, which include:

  • BASF SE

  • Clariant AG

  • DIC Corp.

  • Sudarshan Chemical Industries Ltd.

  • Atul Ltd.

  • Huntsman Corp.

  • Kronos Worldwide Inc.

  • Lanxess AG

  • Kiri Industries Ltd.

Dyes & Pigments Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 36.4 billion

Revenue forecast in 2028

USD 51.7 billion

Growth rate

CAGR of 5.1% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Volume in kilotons, revenue in USD million/billion, and CAGR from 2021 to 2028

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country Scope

U.S.; Germany; U.K.; India; China; Brazil

Key companies profiled

BASF SE; Clariant AG; DIC Corp.; Sudarshan Chemical Industries Ltd.; Atul Ltd.; Huntsman Corp.; Kronos Worldwide Inc.; Lanxess AG; Kiri Industries Ltd.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global dyes and pigments market report on the basis of product, application, and region:

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

    • Dyes

      • Reactive Dyes

      • Vat Dyes

      • Acid Dyes

      • Direct Dyes

      • Disperse Dyes

      • Others

    • Pigments

      • Organic

      • Inorganic

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

    • Dyes

      • Printing Inks

      • Textiles

      • Paper

      • Leather

      • Others

    • Pigments

      • Plastics

      • Paints & Coatings

      • Construction

      • Printing Inks

      • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • India

      • China

    • Central & South America

      • Brazil

    • Middle East & Africa

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