USD 36.26 billion
Report ID: SQMIG15A2263 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 95 | Figures: 76
Global Dyes & Pigment Market size was valued at USD 36.26 billion in 2021 and is poised to grow from USD 38.2 billion in 2022 to USD 57.8 billion by 2030, growing at a CAGR of 5.3% in the forecast period (2023-2030).
Increasing demand from various application industries, such as textiles, paints & coatings, construction, and plastic, 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.
The availability of 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, an increase in 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 restrain the market growth during the forecast period.
Factors, such as water pollution during the manufacturing processes, high metal content in pigments, and excessive 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.
Global Market Size
USD 36.26 billion
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Global Dyes & Pigment market is segmented on the basis of application, end-user, and the region as well. By application, the market is segmented into Textiles, paints & coatings, construction, and plastics. By end-user, the market is categorized into consumer electronics, healthcare, automotive, aerospace & defence, and others. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Dyes & Pigment Market Analysis by Application
By application, theThe textiles segment dominated the dyes market with a share of more than 62.0%, in terms of revenue, during 2021. However, the printing inks segment is estimated to register the fastest CAGR from 2022 to 2028.
The growing digital printing sector is expected to fuel the demand for dyes in printing inks application. Countries, such as India and China, are the major producers of dyes, which is likely to provide positive scope for printing inks application across the Asia Pacific region.
Dyes & Pigment Market Analysis by End-User
A turnaround in these important industries and their rising demand in these applications are two factors contributing to the growth of the dyes and pigments market. Because of expanding infrastructure, the paints and coatings sector is expanding rapidly.
A substantial market for paints and coatings is anticipated in Asia-Pacific because of rising population and infrastructural development.
Thus, by offering a variety of dyes to meet the expansion in the Asia-Pacific paints sector, dyes and pigments firms can increase their profit margin, which will boost their revenue and market share.
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Globally, The dyes and pigments market is expected to be dominated by Asia Pacific. The market in the Asia Pacific area is predicted to grow favourably over the next years, reaching a value of USD 15.91 billion in 2021. Additionally, the expansion of the textile industry in the area can help the market develop. Additionally, the expansion of the textile industry in the area can help the market develop.
The rapidly growing textile industry in the United States is expected to be the main factor in the usage of dyes and pigments in North America.
In addition, it is projected that the sector would grow as a result of the growing usage of titanium dioxide as a pigment in manufacturing.
It is anticipated that the growing product consumption in the leather industry in Europe will enhance the usage of dyes and pigments. In addition, the expanding demand for it in industries including as clothing, furniture, and footwear, as well as the automotive sector, is anticipated to drive the expansion of the market.
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Dyes & Pigment Market Drivers
Expansion of Dyes & Pigment Usage in New Industries will Boost its Demand during Forecast Period
Dyes & Pigment Market Restraint
Stringent Regulations to Hinder Growth of Dyes & Pigment in Global Market
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GThe global Dyes & Pigment market is fairly fragmented with the presence of several big players such as Toyo Ink SC Holdings Co., Kemira Oyj, Ishihara Corporationin nature due to the presence of various regional and international players. Major payers are primarily focusing on the development, innovation, and efficiency of products to provide various benefits related to productproducts. Increasing R&D investments is another strategy opting opted by key players to strengthen their market position.
Dyes & Pigment Market Top Players Company Profiles
Dyes & Pigment Market Recent Developments
Rapid industrialization and Fast Fashion Trend to Boost Demand for Dyes & Pigment
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global Dyes & Pigment market is witnessing a significant growth during the forecast period owing to increased technology.
This tendency is anticipated to continue in the future due to the expansion of activities aimed at reducing global warming and its effects.
Global demand for clothes is forecast to be significantly fueled by the growing population, which is also anticipated to fuel the textile industry's demand for dyes and pigments.
Bio basedBio-based dyes and pigments reduce industrial water pollution, a common problem in the dyes and pigments industry, and hence has been gaining prominence among many end useend-use industries.
Growing demand for digital ink in apparel printing and growing awareness and use of bio plasticbio-plastic products are further driving the demand for the dyes and pigments. Rawwill bring opportunities for players in the market. material price volatility and environmental concerns are some of the key factors that are anticipated to restraint growth of the dyes and pigments market.
|Market size value in 2021||USD 36.26 billion|
|Market size value in 2030||USD 57.8 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Dyes & Pigment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Dyes & Pigment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Dyes & Pigment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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