Rockville , Oct. 05, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global dyes and pigments market is anticipated to rise at a CAGR of 3% to reach US $38 Bn by the end of 2031.
Dyes and pigments are substances used to add color to materials. Dyes dissolve and chemically bond with materials like fabric or paper, giving bright, even coloration. They're excellent for transparent materials and high-volume applications like textiles. On the other hand, pigments are tiny particles mixed with a binder, forming a layer on surfaces. These are suitable for paints, inks, and plastics, providing durable color. Pigments resist fading and are versatile in different mediums.
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The growth of the dyes and pigments market is primarily being propelled by a surge in demand for environmentally friendly and sustainable coloring solutions. Additionally, the expanding applications in sectors such as healthcare and cosmetics are broadening the market's reach.
Key Takeaways:
- The dyes and pigments market in China is expected to witness a CAGR of more than 5% until 2031 and is projected to reach nearly US $ 8 Bn. Moreover, China is expected to be the world’s largest textile cloth manufacturer.
- Demand for dyes and pigments in the US was around US $ 8 Bn for 2020. Growth is majorly due to extensive applications across the construction sector.
- Textile grade dyes and pigments are likely to capture the bulk of overall demand during the forecast period. Moreover, primary manufacturers are expected to gain maximum benefits across various key economies such as China, India, Thailand, Bangladesh, and Indonesia.
The increasing demand for sustainable and eco-friendly coloring solutions, the expanding applications in healthcare, cosmetics, and allied industries, as well as the rapid growth in key sectors like textiles, paints, and plastics are a few factors driving the market - Says FACTMR Expert
Market Competition
In this highly competitive market, major industry participants focus on tailoring color schemes and product offerings to meet the specific needs of individual end-users.
Prominent dyes and pigments industry companies include:-
- 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
Recent Developments
- In June 2021, BASF SE unveiled plans to enhance its innovation capabilities in Japan, relocating the R&D center for dispersions and resin applications from Amagasaki to Yokkaichi. This move aims to bolster collaborative efforts across the supply chain management team for increased efficiency.
- May 2021 saw the introduction of Clariant AG's HostatintTM AU Aqueous pigment dispersions, broadening the spectrum of colors available for both interior and exterior architectural coatings. These hues feature innovative low-VOC and APEO-free technologies.
Winning strategies
- Companies in the dyes and pigments market are focusing on creating customized color solutions and product lines to match the unique needs of individual customers. This approach helps them stand out from competitors. By tailoring their offerings, these companies can address specific requirements.
- Companies in the dyes and pigments industry are proactively looking to grow their influence. They're doing this by either buying or teaming up with other players in the market. This helps them expand their customer base and revenue share. They're also looking to broaden their range of dyes and pigments, possibly in diverse industries.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Dyes and Pigments Market, presenting forecast statistics for the period of 2023-2033.
Dyes and Pigments Market Share & Trends Analysis By Classification (Disperse, Reactive, Sulphur Dyes and Pigments) By Application (Textile, Ink & Paint, Leather & Paper Dyes and Pigments) & By Region
Explore More Related Studies Published by Fact.MR Research:
Organic Dyes and Pigments Market: The global organic dyes and pigments market is forecast to reach US$ 37 Billion by 2032, progressing at a CAGR of 5.4% during 2022-2032.
Textile Dyes Market: The global textiles dyes market was valued at US$ 6.7 billion in 2022 and would expand to reach US$ 8.9 billion by 2033, growing at a CAGR of 6.0% during 2023-2033.
Paper Dyes Market: The paper dyes market is projected to expand at a CAGR of 2.5%, to reach a valuation of US$ 1.3 billion in 2033.
About Fact.MR:
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