Chicago, May 11, 2023 (GLOBE NEWSWIRE) -- The global Textile Dyes Market is projected to grow from USD 11.1 billion in 2022 to USD 14.0 billion by 2027, at a CAGR of 4.6% during the forecast period, as per the recent study by MarketsandMarkets. The market in Asia Pacific is witnessing high demand, along with low-cost of manufacturing in Asia Pacific countries. The demand for dyes for cellulose fiber is increasing in Asia-Pacific because of the rapidly growing textile industry. Cotton, jute, and other natural cellulose fibres are extensively used in the Indian textile industry. Apart from India, Bangladesh, China, and other Asian countries are the production sites for major fast fashion companies. The increasing demand will burden the industry over the next few years.
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Browse in-depth TOC on " Textile Dyes Market”.
226- Market Data Tables
55- Figures
222- Pages
List of Key Players in Textile Dyes Market:
- Huntsman Corporation (US),
- Atul Ltd. (India), Kiri Industries (India),
- Lanxess AG (Germany),
- Zhejiang Longsheng Group Co. Ltd. (China),
- Zhejiang Jihua Group (China),
- Zhejiang Runtu Co. Ltd. (China).
Drivers, Restraints, Opportunities and Challenges in Textile Dyes Market:
- Drivers: Low cost of manufacturing in Asia Pacific countries
- Restraints: Stringent environmental regulations regarding disposal of textile effluents
- Opportunities: Renewed interest in low-VOC and eco-friendly products
- Challenges: Overcapacity of dyestuffs
Key Findings of the Study:
- Cotton fiber segment accounted for the largest segment of the textile dyes market.
- Reactive is the fastest-growing dye type segment of the textile dyes market.
- Asia Pacific is the fastest-growing textile dyes market.
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The major driver for the textile dye market is the high demand from garments industry and industries which use technical textiles such as automobile and construction. The trend towards using environmentally friendly textile dyes is leading to high investment in R&D in the industry. Asia Pacific is an emerging market for textile dyes in terms of both value and volume. The rising demand from China and India is leading to the rapid growth of the market in the region as well as globally.
The demand for dyes for cellulose fiber is increasing in Asia-Pacific because of the rapidly growing textile industry. Cotton, jute, and other natural cellulose fibers are extensively used in the Indian textile industry. Apart from India, Bangladesh, China, and other Asian countries are the production sites for major fast fashion companies.
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The major driver for the textile dye market is the high demand from the garments industry and industries which use technical textiles such as automobile and construction. The trend towards using environmentally friendly textile dyes is leading to high investment in R&D in the industry. Asia Pacific is an emerging market for textile dyes in terms of both value and volume. The rising demand from China and India is leading to the rapid growth of the market in the region as well as globally. The manufacturers in Europe and North America are required to follow regulations implemented by various regulatory authorities regarding the production as well as the use of textile dyes for various applications. This is a challenge faced by various key players.
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