Westford, USA, Dec. 11, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global dyes and pigment market will attain a value of USD 57.8 Billion by 2031, with a CAGR of 5.3% during the forecast period (2024-2031). The rising demand from different application sectors like textile, paints & coating, construction, and plastics is boosting the dyes and pigment market growth. Furthermore, prominent manufacturers of dyes are actively trying to improve their products by using innovative technologies for efficient removal of pollutants during the manufacturing procedure. There is a wide distribution network in the market that is accomplished through brick & mortar stores and online retailing. The accessibility of products on e-commerce platforms has increased the client base immensely. The constant growth in the global construction sector is also boosting the expansion of the overall market. The rising population along with industrialization has also encouraged governments to increase their expenditure on construction for infrastructural development. Therefore, growing construction expenses globally are also creating huge demand for dyes and pigments, fueling market growth.
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Browse in-depth TOC on the "Global Dyes and Pigment Market"
- Pages - 157
- Tables - 95
- Figures – 76
Dyes and Pigment Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 38.2 Billion |
| Estimated Value by 2031 | $ 57.8 Billion |
| Growth Rate | Poised to grow at a CAGR of 5.3% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, End-User, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa |
| Report Highlights | Growing preference for sustainable and eco-friendly materials |
| Key Market Opportunities | Rising demand for organic and natural dyes |
| Key Market Drivers | Increasing use of dyes in textile sector |
Dyes & Pigment Market Segmental Analysis
Global Dyes & Pigment market is segmented on the basis of application, end-user, and the region as well.
By application, the market is segmented into Textiles, paints & coatings, construction, and plastics.
By end-user, the market is categorized into consumer electronics, healthcare, automotive, aerospace & defence, and others.
By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Rapid Growth in Construction and Infrastructure to Increase Demand for Paints & Coatings
The paints & coatings is dominating with the largest dyes and pigment market share. The segment is witnessing such immense growth due to increasing demand in construction and infrastructure development, particularly in the emerging countries. Furthermore, the growing construction sector along with the initiatives taken by the government facilities and private builders to fulfil the requirements of the residential units is also providing massive opportunities for growth. furthermore, the dyes and pigments market highlights that the rising usage of high-performance paints and coatings across the furniture and automotive industry. These paints are utilized for protecting furniture and vehicles from external damages, fuelling the market growth.
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Raising Requirement for Dying Leather Material to Increase Usage of Dyes in Textile Sector
According to the dyes and pigment market analysis, the textile segment is dominating with the largest share. This segment is witnessing such massive growth in the market due to the rising leather market. Dyes are compounds which impart color when applied to a substrate through a procedure that momentarily alters the crystal structure of the colored substances. These chemicals are extensively used in the textile industry because of their high dyeing capability. Moreover, dyeing leather requires the utilization of active and acidic dyes in alkaline settings. Generally, they are selected from textile dyes. The leather used in apparel production is dyed evenly so that the surface color matches with the cut region.
Increasing Requirement of Dyes and Pigment in Textile and Plastic Sector to Boost Market Growth in Asia Pacific
Asia Pacific held the major share of the global dyes and pigment industry. The growing middle class is increasing the global consumer expenditure. This factor is expanding the textile and plastic sectors, which is contributing to the dyes and pigment market growth. The demand for dyes and pigment is increasing due to the extensive requirement in the textile sector. The increasing use of dyes and pigments will continue to grow in the Asia Pacific region because most of the textile and plastic are produced in this region. While China is dominating the global market, countries like Bangladesh, India, and Vietnam is experiencing a rise in textile and plastics manufacturing because of reduced labor expenses. Furthermore, the new generation of textiles are cost-efficient, fade resistant, and eco-friendly along with consumers shifting preference to increase their color profile, resulting in an increasing demand for dyes and pigment.
Dyes and Pigment Market Insights
Drivers
- Increasing shift towards sustainable products
- Growing demand in paints and coatings sector
- Rising awareness of organic and natural dyes
Restraints
- Rising environmental regulation and safety concerns
- High fluctuations in the price of raw materials
- Strict regulations related to waste generations
Key Players Operating in Dyes and Pigment Market
- BASF SE
- Clariant AG
- Huntsman Corporation
- DIC Corporation
- Cabot Corporation
- Kronos Worldwide, Inc.
- Lanxess AG
- Heubach GmbH
- Sudarshan Chemical Industries Ltd.
- The Chemours Company
- Sun Chemical Corporation
- Ferro Corporation
- Cathay Industries Group
- Tronox Limited
- Meghmani Pigments
- Atul Ltd.
- Kiri Industries Ltd.
- Archroma
- Synthesia, a.s.
- Dystar Group.
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Key Questions Answered in Dyes and Pigment Market
- Which region is dominating the market?
- Who are the prominent players in the market?
- What are the major restraints hampering the growth of the market?
This report provides the following insights:
Analysis of key drivers (increasing shift towards sustainable products, growing demand in paints and coatings sector), restraints (rising environmental regulation and safety concerns, high fluctuations in the price of raw materials), opportunities (rising awareness of organic and natural dyes), and challenges (strict regulations related to waste generations) influencing the growth of dyes and pigment market
- Market Penetration: Comprehensive information on the product offered by the top players in the dyes and pigment market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the dyes and pigment market
- Market Development: Comprehensive information on emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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