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Textile Colorant Market size was valued at USD 6499.05 million in 2019 and is poised to grow from USD 6850 million in 2023 to USD 10996.54 million by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

The 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. 'Huntsman Corporation', 'Archroma Management LLC', 'Kiri Industries Limited', 'DyStar Singapore Pte Ltd.', 'BASF SE', 'Clariant International Ltd.', 'DIC Corporation', 'Yorkshire Group plc', 'Standard Colors Inc.', 'Colourtex Industries Private Limited', 'Synthesia a.s.', 'Zhejiang Longsheng Group Co. Ltd.', 'Runtu Co. Ltd.', 'Bezema AG', 'Sumitomo Chemical Co. Ltd.', 'Jihua Group Corporation Limited', 'Hangzhou Jihua Group Company Limited', 'Colorant Limited', 'Atul Ltd.', 'Colourtex GmbH'

The need for living space has grown as a result of the expanding population. Many governments have offered housing subsidies for their residents in order to meet this need. Additionally, the lower house loan interest rates have encouraged plenty of individuals to buy and furnish their homes. To decorate and give their homes a distinctive personality, the majority of them hire architects and interior designers.

Natural dyes have traditionally been used to color fabrics. However, when consumer textile manufacturing increased as a result of the industrial revolution, there was an increase in the need for synthetic colorants to dye the vast majority of produced materials. However, there are a number of drawbacks to synthetic colorants, including itchiness, color fading, and a high water requirement for dye production and application.

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 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.

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Global Textile Colorant Market

Product ID: SQMIG15E2444