ROCKVILLE, Md., Feb. 16, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global Textile Dyes market is projected to grow at a compound annual rate (CAGR) of 6% between 2021 and 2031. The market is expected to reach US$ 8 Bn by the end of 2031.
Sales of direct textile dyes are expected to incline at the fastest rate amongst all, with their valuation anticipated to surpass US$ 2 Bn by the end of 2031.
According to the India Brand Equity Foundation (IBEF), India’s textiles industry contributed 7% to industry output in FY 2018-19, with an expected valuation of over US$ 23 billion by 2027. Likewise, according to Textile World, China’s chemical fiber production exceeded 50 million tons, comprising over 66% of global production. Such trends are motivating prominent players to increase foray across these markets.
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Textile Dye Demand from 2016-2020 Vs Projected Sales for 2021-2031
From 2016 to 2020, sales of textile dyes increased by approximately 5% CAGR. As the global textile industry flourishes, demand for trendy and in-vogue clothes is surging, prompting leading brands to incorporate attractive designs, which has spurred sales of different dyes in the recent past.
Growth prospects suffered a setback during the COVID-19 pandemic, as mandatorily imposed lockdowns halted textile production, generating a gap in the demand-supply equation in the initial months. As countries gradually ease restrictions, growth is expected to rebound, with Fact.MR projecting an expansion rate of a little over 6% CAGR across the 2021-2031 assessment period.
How Fast are Textile Dye Sales Expected to Incline in the U.S?
The market for textile dyes in the U.S. is anticipated to incline impressively, and is expected to reach nearly US$ 700 Mn by 2021-end. Growing contribution of the domestic textile industry is majorly stimulating demand for textile dyes across the country.
According to the National Council of Textile Organizations (NCTO), the U.S textile and apparel shipments totaled US$ 64.4 billion in 2020, and is the 2nd largest exporter of textile-related products in the world. Recently, manufacturers have inaugurated new facilities across the production chain, thus attracting key market players.
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Key Segments Covered in the Textile Dyes Industry Survey
By Dye Type
- Disperse Textile Dyes
- Reactive Textile Dyes
- Direct Textile Dyes
- Acid Textile Dyes
- Vat Textile Dyes
- Basic Textile Dyes
- Other Textile Dyes
Fiber
- Cotton Textile Dyes
- Viscose Textile Dyes
- Wool Textile Dyes
- Nylon Textile Dyes
- Polyester Textile Dyes
- Acrylic Textile Dyes
- Other Fiber Textile Dyes
Region
North America
- U.S.
- Canada
Europe
- Germany
- U.K
- France
- Spain
- Italy
- Russia
- Rest of Europe
East Asia
- China
- Japan
- South Korea
South Asia
- India
- Rest of South Asia
Oceania
- Australia
- Rest of Oceania
Competitive Landscape
Some key textile dye manufacturers profiled in Fact.MR’s report include LANXESS AG, Huntsman International LLC, Atul Ltd., Anand International, DyStar Singapore Pte. Ltd., Colorant Limited, Kiri Industries Limited, Jay Chemical Industries Private Limited, Organic Dyes and Pigments LLC, and Archroma.
- In February 2021, LANXESS AG signed a contract to acquire Emerald Kalama Chemical to acquire 100% of its shares at a purchase price of over US$ 1 billion. The objective behind this move is to strengthen its position in specialty chemicals manufacturing, including textile dyes and other consumer products.
- In June 2019, Organic Dyes and Pigments LLC completed two relocation moves, enhancing its capabilities and efficiency to better serve its clients. This includes combining scattered offices in Rhode Island into one single facility, and combining their Concord NC and Union SC offices into one.
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Key players in the Textile Dyes Market
- Anand International
- Archroma
- Atul Ltd.
- Big Sunshine International Co. Ltd.
- Colorant Limited
- Day Glo Color Corp.
- Dev Colours
- FUJIFILM Holdings America Corporation
- Huntsman International LLC.
- Jay Chemical Industries Private Limited
- Kiri Industries Limited
Key Takeaways from the Market Study
- Demand for direct textile dyes to remain high, reaching over US$ 2 billion by 2031
- Reactive textile dyes to experience fastest growth at approximately 7% CAGR until 2031
- Dyes for viscose fibers are expected to incline at a CAGR of around 6%
- Polyester textile dyes to expand impressively, registering a CAGR of around 7%
- The U.S. likely to register heightened textile dye sales, reaching almost US$ 700 million in 2021
- India, South Korea, and Australia to collectively reach slightly over US$ 600 million by 2031
- China to generate over US$ 2 billion in revenue across the textile dyes landscape
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