Dyes and Pigments Market

Dyes and Pigments Market Overview

Worldwide demand for dyes and pigments is projected to grow at a Compound Annual Growth Rate (CAGR) of 3% from 2021 to 2031. The global dyes and pigments market size is anticipated to reach at US$ 38 billion by the year 2031.

According to the market analysis, sales are expected to emerge strong across the Chinese market, amid extensive development of the domestic textile industry. Poised to inch close to US$ 8 billion by 2031, which would be more than 1/5 of the global dyes and pigments market share for China, recessionary fears have been offset as projections appear largely steady for the coming years.

Key Points Covered in Dyes and Pigments Market Study:

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Dyes and Pigments and How to Navigate
• Recommendation on Key Winning Strategies

Dyes and Pigments Demand from 2016-2020 Vs Future Forecasts for 2021-2031

From 2016 to 2020, sales of dyes and pigments remained high, being valued at over US$ 30 billion. Increasing demand from key application industries, including textiles, construction, paints & coatings, dyes, and pigmented plastics, have largely driven growth in the said period.

Growth prospects experienced a blip during the COVID-19 pandemic, as mandatory lockdowns compelled major factories producing dyes and pigments to halt production. According to Fact.MR’s revised estimates, the market is likely to record a CAGR of over 3% for the 2021-2031 forecast period.

How is the Packaging Industry Opening Up Growth Frontiers for Dyes and Pigments?

The global packaging industry is witnessing credible developments, with several manufacturers embracing lightweight and flexible alternatives, most notably paper and paperboard. This is prompting enhanced usage of specialty pigments in paper processing, thus stimulating demand.

The transition towards paper based packaging is enabling companies to fulfill their sustainability commitments, which is being further stimulated by preference for organic and natural pigments and dyes manufactured from renewable sources such as plants.

Will a Flourishing Global Textile Industry Act as a Catalyst for Adoption of Dyes and Pigments?

The global textile industry is experiencing significant developments, expected to surpass the billion dollar marker in the long-run. The industry is ever growing, marked by prolific developments with respect to dyeing and coating technologies. Maximum opportunities abound across key countries in the Asia-Pacific region.

These countries have attracted significant investments in the dyes and pigments sector, as rapid urbanization rates have increased demand for clothing and apparel as consumers experience enhanced living standards and a surge in per capita spending.

Country-wise Analysis

Why Do Growth Prospects for Dyes and Pigments Appear Bright across the U.S?

Demand for dyes and pigments market in the U.S. is estimated at above US$ 8 billion for 2020. Growth is majorly attributed to extensive applications across the construction sector. Oxford Economics projects that construction activity across the U.S will increase by US$ 1.5 trillion in the next decade.

Consequently, complex inorganic color pigments are being deploy to satisfy the highest demands for heat stability, chemical inertness as well as weather and light fastness. Furthermore, pigments are being deployed to ensure wood conservation across residential settings.

How is China Generating Growth Opportunities for Manufacturers of Dyes and Pigments?

The dyes and pigments market is expected to register a CAGR exceeding 5% across China until 2031, projected to reach nearly US$ 8 billion. Deployment is expected to be maximum across the textile industry. According to Textile Info Media, China is the world’s largest textile cloth manufacturer, contributing 7% of the GDP.

Furthermore, the National Development and Reform Commission, the textile sector registered stable development in the first 11 months of 2020, with value added output rising by 2.5% and domestic retail sales of apparel standing at US$ 172.4 billion. Hence, dyes and pigments deployment also surged, prompting newer expansion opportunities.

Category-wise Insights

Which Dyes and Pigments Classification is Set Record Maximum Surge in Demand?

By classification, reactive dyes held maximum sway in 2020, accounting for nearly 3/5 of the revenue. High organic component presence and enhanced resistance to fading render them highly suitable for application across textile manufacturing.

Simultaneously, demand for disperse dyes is expected to surge to be valued at over US$ 19 billion by the end of the 2021-2031 forecast period. Availability of different energy grades, less water solubility and fastness in washing are some key factors enhancing its adoption.

Will Dyes and Pigments for Textiles Generate Bulk of Global Demand?

By application, textile grade dyes and pigments are likely to capture bulk of overall demand, generating over 60% of overall revenue in 2020. Extensive textiles production to satiate global demand is pivoting sales across this segment.

Prominent manufacturers are expected to glean maximum benefits across such key economies as China, India, Bangladesh, Indonesia and Thailand, as these are considered primary textile production hubs.

Competitive Landscape

Key dyes and pigments manufacturers primarily emphasize on producing color schemes and product lines customized according to each end-users’ requirements. Furthermore, collaborations between existing players to promote advanced research as well as acquiring players are also important strategies.

• In June 2021, BASF SE announced expansion of its innovation efficiency in Japan by moving the Dispersions and Resins Applications R&D Center from Amagasaki to Yokkaichi to strengthen cross-functional collaboration across the supply chain management team.
• In May 2021, Clariant AG launched the HostatintTM AU aqueous pigment dispersions, expanding the color choice for exterior and interior architectural coatings. These colors are endowed with new low-VOC and APEO-free technologies.

Dyes and Pigments Report Scope

Attribute	Details
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	US$ Mn for Value ‘000 Units for Volume
Key Regions Covered	North America Europe East Asia South Asia Oceania Latin America Middle East & Africa
Key Countries Covered	U.S Canada Germany U.K. France Spain Italy Russia China Japan South Korea India Australia Brazil Mexico Argentina GCC South Africa
Key Segments Covered	Classification Application Region
Key Companies Profiled	Atlanta AG Asahi Songwon Colors Ltd. Atul Ltd. BASF SE Cathay Industries USA Clariant AG DIC Corp. DyStar Singapore Pte. Ltd. Ferro Corp. Sun Chemical Corporation Synthesia SA Sudarshan Chemical Industries Ltd. Huntsman Corp. LANXESS AG Kronos Worldwide Inc. Kiri Industries Ltd. Tronox Inc. Merck KGaA Flint Group
Pricing	Available upon Request

Key Market Segments Covered

• By Classification :

  • Disperse Dyes and Pigments
  • Reactive Dyes and Pigments
  • Sulphur Dyes and Pigments
  • Other Dyes and Pigments Classifications

• By Application :

  • Textile
  • Ink & Paint
  • Leather
  • Paper