The global Dyes & Pigments market is forecast to reach USD 48.78 Billion by 2027, according to a new report by Reports and Data. The growth of the market is anticipated to witness increased demand from various applications such as textiles, paints and coatings, construction, and plastics. Dyes and pigment producers are fully committed to upgrading their goods through the use of new technology to eliminate environmentally safe and harmful contaminants during processing safely.
These products have a wide variety of applications from paints & coatings, textile construction, and printing inks to plastics. In these significant industries, growth in the dyes & pigments market is primarily driven by a turnaround and their increasing need in these applications. Due to the rising construction, the paint & coatings business is expanding considerably.
Increasing the use of plastics in consumer products over the projected timeframe is anticipated to create a favorable room for demand growth. In plastic products, pigments are added to polymers to obtain specific colors. Their use in plastics depends on their ability to weather and age, light speed, warping and nucleation, and clarity.
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Some of the factors that hinder the development of the demand for pigments and paints are environmental considerations, price fluctuations of raw materials, and global power. A few of the new market trends are changing production plants from the U.S. and Europe to India, China, and Taiwan, and eco-friendly product preferences are rising. Since specialty pigments are environmentally friendly in nature, demand for pigments and colors is expected to increase.
The COVID-19 impact:
The COVID-19 epidemic has affected infrastructure and shipping, contributing to a pause in shipments from China. The delay has increased the prices of raw materials harming the dyes and pigments industry in various countries across the globe. Crucial dye intermediates’ prices are going up in the region of over 30 percent from the average cost in the same time frame as opposed to 2019, which would have a cascading negative impact on the industry such as textiles, printing inks, papers and other associated sectors before COVID-19 is stored worldwide.
Key participants include:
BASF SE, Clariant AG, DIC Corporation, Huntsman Corporation, Cabot Corp, Dupont De Nemours & Co., Kronos Worldwide Inc., Flint Group, EcKart GmbH, and Lanxess AG among others.
Further key findings from the report suggest
- During the forecast period, the demand in the Asia Pacific is projected to see the highest CAGR. The construction industry, coupled with rapid industrialization and urbanization, rising disposable incomes of middle-class families in the region’s developing economies, is expected to be the primary driving force in the coming years. Also, proper policy funding and programs, and increased government spending are driving the development of the region’s construction industry. This, in turn, is anticipated to fuel product demand in the Asia Pacific region.
- For plastics production for inorganic pigments is higher than organic. Due to their low dispersion, the natural dyes appear to form clumps, which further results in spots and specks in the finished product. Inorganic pigments are also preferred alternatives because they are readily dispersed. Titanium dioxide is the inorganic dye commonly used in the product category of plastics.
- Dyes span a wide array of uses from textiles, organic LEDs, and LCD screens. Properties such as enhanced dyeing efficiency, physical / photochemical photographic properties, and increased durability to mitigate toxicity are expected to promote the growth of reactive and disperse dyes over the next few years.
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For the purpose of this report, Reports and Data have segmented into the global Dyes & Pigments market based on the Dye Types, Pigments, Applications, and region:
Dye Types Outlook (Revenue, USD Billion; 2017-2027)
- Acid Dyes
- VAT Dyes
- Disperse dyes
- Reactive dyes
- Direct dyes
Pigments Outlook (Revenue, USD Billion; 2017-2027)
- Organic pigments
- Inorganic Pigments
- Titanium dioxide pigments
Applications Outlook (Revenue, USD Billion; 2017-2027)
- Printing Inks
- Paints & Coatings
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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