Pigments and Dyes Market Size
:
Pigments and Dyes Market size was USD 39.09 billion in 2021 and projected to grow from USD 43.2 billion in 2023 to USD 68.3 billion by 2032, exhibiting a CAGR of 5.2% during the forecast period.
Dyes and pigments are the substance used to impart colour to certain material. These are generally called as colorants and are utilized in plastics, paints & coatings, textiles, and printing inks industries. Dyes are finer than pigments and pigments are stable in UV conditions. Pigments and dyes are different colorant types with many applications in the industries like textile, printing, automotive etc. Dyes are available in granular form, as liquids, pellets, pastes, dry powders etc. which aid in enhancing aesthetics. Pigments care generally in organic and inorganic forms and are useful for good baking stability, high tinting strength, high resistance to solvents, etc.
Market Highlights
Pigments and Dyes Market is expected to project a CAGR of 5.2% during the forecast period, 2022-2032
Pigments and Dyes Market is expected to reach USD 68.3 billion, growing at a CAGR of 5.2% during forecast period owing to the growing necessity and demand for pigments and dyes from various industries like packaging, textiles etc. which is anticipated to drive the demand for the growth of the pigments and dyes Market. Increasing demand for foreign shipping, rapid globalization and increasing awareness on utilizing eco-friendly pigments and dyes is expected to boost the growth of the market during the forecast period. Textile, paints & coatings industries are major contributors for the market growth due to the increasing population.
Pigments and Dyes Market Segmentation:
Dyes segment is expected to grow with high CAGR during the forecast period
Pigments and Dyes Market is classified based on the Product into Dyes {Reactive, Vat, Acid, Vat dye, Sulfur dye, Azo dye, Direct, Disperse}, Pigment {Organic, Inorganic, Titanium Dioxide. Dyes segment is expected to dominate the market in the forecast period. Dyes segment is classified into Reactive, Vat, Acid, Vat dye, Sulfur dye, Azo dye, Direct, Disperse. The increasing demand for textiles and changing consumer preference toward sustainable textile is expected to boost the growth of the segment in the market. The increasing utilization of dye in cellulose triacetate, nylon, and acrylic fibers may drive market growth.
Dyes segment is expected to grow with high CAGR during the forecast period
Pigments and Dyes Market is classified based on the Application into Dyes {Printing Inks, Plastics, Textiles, Paints, Paper, Leather, Others}, Pigments {Paints & Coatings, Plastics, Construction, Printing Inks, Others. Dyes segment is expected to dominate the market in the forecast period owing to the increasing demand for textiles in the market. Dyes are used to provide colour to substrate and are most often used in the textile industry which may drive the demand for growth of the segment in the market. Dyes and pigments are generally utilized in wet or dry films to give the major of the required physical and chemical property.
Market Dynamics:
Growth Drivers
Increasing Advancements in Textile Industry is Expected to Boost Market Growth
The growing population, varying styles, awareness on organic goods and several advancements in technology related to textile industry are boosting the growth of the market. The textile industries booming in different countries are creating scope for market growth. Textiles are pigmented an using colours and dyed which increases the appearance and the usage of pigments and dyes in textiles is expected to boost the market growth. Increasing population is resulting in increased expenditure on elegant apparel and infrastructure projects with good looking paints and coatings which is anticipated to drive the demand for the growth of pigments and dyes market.
High Demand for Colouring is Expected to Boost the Growth of the Market
Dyes and pigments aid the paints and coatings to obtain colour. They also provide finishing, assists in holding the paint intact and helps protecting the underlying surface from corrosion. The demand for pigments and dyes is increasing due to their nature of colouration, toughness, clarity, mechanical strength which is expected to boost the growth of the pigments and dyes market. Paints & coatings field highly contribute to the growth of pigments and dyes market. The growing motor vehicles production and increasing construction activities are anticipated to boost the growth of the pigments and dyes market.
Restraint
High Volumes of Waste Generation May Restrain the Growth of the Market
The waste generated from processing of pigments and dyes is hazardous which are utilized in clothing, fabrics, paper, leather, inks, medicines etc. and this may restrain the market growth. The waste generated from pigments and dyes industry will affects humans, and aquatic life and may hamper the market growth.
Recent Developments:
- In June 2021, DIC Corporation and Sun Chemical obtained BASF’s global pigments business which will aid in expanding DIC's portfolio.
- In December 2020, Asahi Songwon Colors initiated its commercial operations at Dahej plant of Asahi Tennants Color, its 51:49 collaboration with Tennants Textile Colours Limited (TTC) of U.K.
Pigments and Dyes Market
Key Players Covered:
- Sudarshan Chemical Industries Limited
- KRONOS Worldwide, Inc.
- DIC CORPORATION
- BASF SE
- Huntsman International LLC.
- Atul Ltd
- HeuBach GmBH
- Clariant
- Kiri Industries Ltd.
- DuPont
- Neelikon
- Archroma
- Cabot Corporation
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Regional Analysis
Pigments and Dyes Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific dominated the market in 2021 owing to the increasing middle-class population which may increase the expenditure on textile and plastic industries, thereby boosting the market growth. High utilization of dyes and pigments in textile and plastic sectors in this region along with the low labour cost and unique eco-friendly textile colours are expected to boost the growth of the Pigments and Dyes market in this region during the forecast period.
Impact of Covid-19 on Pigments and Dyes Market
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed travel restrictions and lockdown measures to control the spread of virus. There was disruption in the transportation of finished goods and raw materials during the pandemic and the shutdown of industries due to unavailability of workers, resulted in impacting the market growth. Covid-19 had a negative impact on the growth of the Pigments and Dyes market.
Pigments and Dyes Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.
Pigments and Dyes Market Scope and Segments:
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 5.2% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Product |
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Application |
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By Region |
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Frequently Asked Questions (FAQ):
Pigments and Dyes Market size was estimated at USD 39.09 billion in 2021 and is expected to reach USD 68.3 billion in 2032.
Dyes and Dyes segment accounted for the highest growth rate in the Pigments and Dyes market.
Leading players: Sudarshan Chemical Industries Limited, KRONOS Worldwide, Inc., DIC CORPORATION, BASF SE, Huntsman International LLC., Atul Ltd, HeuBach GmBH, Clariant, Kiri Industries Ltd., DuPont, Neelikon, Archroma, Cabot Corporation and Other Prominent Players are the leading players in the Pigments and Dyes Market.
Increasing Advancements in Textile Industry and High Demand for Colouring are the factors driving the Pigments and Dyes market.
High volumes of waste generated from Pigments and Dyes processing is a challenge associated with the Pigments and Dyes Market.
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