Pune, India, April 28, 2022 (GLOBE NEWSWIRE) -- The global dyes and pigments market size is expected to reach USD 39.09 billion in 2021 and reached USD 40.71 billion in 2022. The market is expected to reach USD 56.1 billion by 2029, exhibiting a CAGR of 4.9% during the forecast period. The rising population, economic development, and the growing e-commerce industry are expected to propel the industry's growth. Fortune Business Insights™ presents this information in its report titled “Dyes and Pigments Market, 2022-2029.”
COVID-19 Impact:
Manufacturing Restrictions to Impede Market Progress
This market is expected to be negatively affected during the COVID-19 pandemic because of the restrictions imposed on manufacturing. The sudden spike in COVID patients led to the lack of raw materials required to produce chemicals. This factor created severe supply chain disruptions. However, the resumption of activities and the adoption of reduced capacities, part-time shifts, and automated production machinery enabled manufacturers to recover their costs and amplify their annual revenues. These factors may propel the dyes and pigments industry progress during the pandemic.
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List of Key Players Profiled in the Report
- BASF SE (Germany)
- DIC CORPORATION (Japan)
- Clariant (Switzerland)
- Sudarshan Chemical Industries Limited (India)
- Huntsman International LLC. (U.S.)
- Atul Ltd (India)
- Cabot Corporation (U.S.)
- DuPont (U.S.)
- Kiri Industries Ltd. (India)
- KRONOS Worldwide, Inc. (U.S.)
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Segments
By type, the market is segmented into reactive, dispersive, vat, others, and acid dyes; and inorganic and organic pigments. By end-user, it is classified into textiles, leather, paper, paints, plastics, and other dyes; and printing ink, paints & coatings, plastics, and other pigments. Geographically, it is clubbed into Asia Pacific, Latin America, North America, Europe, and the Middle East & Africa.
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Drivers and Restraints
Robust Demand from the Coatings & Paints Industry to Propel Market Growth
Dyes and pigments are substances used to provide a material with color. The rising demand for the product from the coatings & paints industry is likely to foster industry growth. Further, rising awareness regarding the corrosion resistance, mechanical strength, toughness, clarity, and color of the solids will likely propel their demand. Moreover, the rising applications of the chemical from the decorative, automotive, and architectural industries are expected to bolster its sales. Also, the rising demand for coatings in the manufacturing industry is expected to propel the industry’s progress. These factors may drive the dyes and pigments market growth.
However, the strict government regulations regarding waste generation are expected to hinder the market progress.
Regional Insights
Rising Middle-Class Population May Foster Industry Growth in Asia Pacific
Asia Pacific is expected to dominate the dyes and pigments market share due to the rising middle-class population. The market in Asia Pacific stood at USD 15.91 billion in 2021 and is expected to grow positively during the upcoming years. Further, the development of the textile industry in the region may foster market progress.
In North America, the rapidly growing textile industry in the U.S. is expected to propel dyes and pigments’ adoption. Further, the rising adoption of titanium dioxide as a pigment in manufacturing is expected to boost industry growth.
In Europe, the rising product consumption in leather is expected to boost dyes and pigments adoption. Further, its increasing demand in clothes, furniture, footwear, and the automotive industry is expected to propel market development.
Competitive Landscape
Major Players Engage in Acquisitions to Expand Product Line-up
The prominent companies operating in the market engage in acquisitions to expand their market presence. For example, Sun Chemical DIC Corporation completed the acquisition of BASF’s global pigments business in June 2021. This development may enable the company to extend its DIC portfolio in several applications such as inks, paints, coatings, cosmetics, and electronic displays. Further, companies adopt research and development, partnerships, acquisitions, mergers, and expansions to enhance their market stance.
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Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Global Dyes & Pigments Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Dyes
- Reactive
- Disperse
- Vat
- Acid
- Others
- Pigments
- Inorganic
- Organic
- Dyes
- Market Analysis, Insights and Forecast – By End-Use
- Dyes
- Textiles
- Leather
- Paper
- Paints & Coatings
- Plastics
- Others
- Pigments
- Printing Inks
- Paints & Coatings
- Plastics
- Others
- Dyes
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
TOC Continued…!
Key Industry Development
- July 2021: Sun Chemical announced two brand new color travel pigments named Reflecks MD Midnight Sapphire and Reflecks MD Midnight Cherry.
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