USD 6499.05 million
Report ID: SQSG15E2014 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 95 | Figures: 76
Global Textile Colorant Market size was valued at USD 6499.05 million in 2021 and is poised to grow from USD 6850 million in 2022 to USD 10996.54 million by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).
With the expansion of the worldwide textile manufacturing industry in recent years, the need for textile dyes and pigments has risen as well. During the projection period, market growth will be supported by research & development on dyes that might provide textiles and oleo-phobic and hydrophobic character. A new range of long-lasting hydrophobic textile chemicals based on silicone chemistry, such as Dow's Dowsil IE-8749 emulsion, was announced by Dow in February 2021. In comparison to traditional silicone finishes, the Dowsil IE-8749 Emulsion treatment exhibits better fabric retention, according to the company's studies on a range of substrates, providing long-lasting water repellency even after several piles of washing.
The implementation of many environmental and health regulations surrounding the use of textile colorants further restricts industry growth. Due to the massive volumes of water utilized as a solvent in textile dyeing processes, water waste also happens as a result, adding to the limits brought on by a lack of water. According to projections, developing novel techniques to cut down on water waste would offer a significant opportunity for market growth. Additionally, improvements in organic dyes that are non-toxic to the environment offer a lucrative opportunity for textile colorants.
US Textile Colorant Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6499.05 million
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Global textile colorant market is segmented based on Source, Type, Application, and Region. Based on the Source, the global market is segmented as Natural and Synthetic. Based on the Type, the Textile Colorant Market is segmented as Azoic Dyes, Direct Dyes, Basic Dyes, Disperse Dyes, Reactive Dyes, Sulfur Dyes, Vat Dyes, and Others. Based on the Application, the Textile Colorant Market is segmented as Clothing, Technical Textiles, Home Textiles & Carpets, and Automotive Textiles. Based on Region,the Textile Colorant Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Textile Colorant Market Analysis by Type
These varieties are divided into groups based on the manufacturing chemistry and the coloring technique used. Of them, reactive dyes have the best fastness because they create an ionic connection with the fibers of the cloth. This explains why the category is anticipated to grow at the quickest rate.
Contrarily, the azo dyes sector has the largest market share, mostly as a result of its reduced manufacturing costs and simplicity. Regulating organizations have, however, been more concerned about the damage that these colorants are doing to the environment. Leading fashion firms have thus started looking for substitute dyes, drastically slowing the segment's development.
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In 2020, the Asia Pacific textile colorant market was valued at US$ 4.24 billion. Throughout the projected period, the region is anticipated to have the greatest market share. China is the leading producer of dyes due to the availability of manpower and inexpensive raw materials. In addition, South Asia has a disproportionate share of the global textile production market. According to the National Development and Reform Commission, China's domestic sales of clothing and knitwear for the first 11 months of 2019 were around US$ 172.4 billion, a rise of 3% over the same period last year. Additionally, China's textile and apparel exports reached US$ 291.21 billion in 2020, growing at a pace of 9.5% annually, which increased the need for textile dye in the nation.
The market in North America, on the other hand, is fueled by the presence of top apparel manufacturing companies like GAP, Nike, Calvin Klein, Adidas, Hanes, and Reebok in the country. Additionally, the region's growing interest in sports is driving up demand for technical fabrics. Over the previous few years, the region's obesity rates have been the highest. In order to assist their body motions during training sessions, more customers are turning to sportswear and activewear.
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Textile Colorant Market Driver
Increasing Demand for Colorants in Home Textiles
Textile Colorant Market Restraint
Stringent Environmental Regulations on Dye Manufacturing
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The Global Textile Colorant market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
Textile Colorant Market Top Player's Company Profiles
Textile Colorant Market Recent Developments
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 Global Textile Colorant Market Analysis, the projected value of unsold clothing in stores and warehouses is between US$ 160 and 190 billion, which is twice what it was before COVID. The textile exports of Asian nations also fell by roughly 17%. Garment exports were $3.24 billion in July, down 2% from the previous year, according to BGMEA. It further mentioned that orders totaling US$ 1.5 billion had been canceled and US$ 2 billion had been placed on hold. It was therefore clear that COVID had a significant impact on the textile industries, especially the verticals for dyes and pigments.
|Market size value in 2021||USD 6499.05 million|
|Market size value in 2030||USD 6850 million|
|Forecast Unit (Value)||USD Million|
|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
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For the Global Textile Colorant 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 Textile Colorant 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.
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Product ID: SQSG15E2014