Dyes and Pigments Market by Products (Dyes { Reactive Dyes, Vat Dyes, Acid Dyes, Direct Dyes, Disperse Dyes and Other Dyes}) and (Pigments { Organic Pigments and Inorganic Pigments }) and by Application (Dyes { Printing Inks, Textiles, Paper, Leather and Others}) and (Pigments { Plastics, Paints & Coatings, Construction and Printing Inks}) –Global Opportunity Analysis and Industry Forecast- 2022-2030

Market Definition:

The Dyes and Pigments Market size was valued at USD 34.70 billion in 2021 and is predicted to reach USD 54.40 billion by 2030 with a CAGR of 5.3% from 2022-2030.

Dyes and pigments are colorants that are extensively used for coloring textiles, buildings, papers and others. Dyes are mostly obtained from leaves, roots, berries, as well as lichens and are soluble in water whereas pigments are derived from coal tars and other petrochemicals and are insoluble in water. The main difference between dyes and pigments is particle size and their stability in UV. Dyes are much finer than pigments and are not stable in UV, while pigments are typically stable in UV conditions. Dyes are commonly of three types such as cellulose fiber dye, protein fibers dye and synthetic fibers dye. Whereas there are basically three types of pigments such as absorption pigments, metal effect pigments, and pearlescent pigments.

Market Dynamics and Trends:

Dyes and pigments are increasingly used in the manufacturing of cosmetic and personal care products such as facial make-up, nail products, eye make-up and others due to their enhanced covering power and coloring intensity. Also, growing utilization of dyes and pigments in the leather, pharmaceuticals, paints, fabric and food industries to add or change the color of the concerned items is the major factor which is expected to propel the growth of the market. Moreover, the growth in the textile industry and the surge in the demand for a variety of colored apparel are factors that are expected to boost the growth of the market.

In addition, high demand for paints and coatings owing to the unceasing demand from a number of end-use industries like automotive, marine, and other industries are boosting the growth of the market in this region. For instance, in September 2021, Axalta announced the construction of a state-of-the-art coatings facility in Jilin City, North China of 46,000-square-meter. The new plant will produce mobility coatings to support growing customer demand in China for light vehicles, commercial vehicles, and automotive plastic components. 

However, the fluctuating raw material costs along with the production of hazardous wastes from the manufacturing industries such as paper, leather, inks, paints & coatings are expected to restrain the growth of market during the forecast period. On the other hand, pigments such as titanium dioxide are increasingly being adopted in the pharmaceutical industry in coloring capsules as they provide unique properties such as opacity, enhanced contrast, inertness, protection from UV light and the smoothness of the resulting product, which support future opportunities for the market. In addition, technological advancements such as organic dyes, functional dyes that include hi-tech applications such as dye sensitized solar cells and optoelectronics are expected to create lucrative growth opportunities for the dyes and pigments market players in the future.

Market Segmentations and Scope of the Study:

The dyes and pigments market size has been segmented based on Product type, application, and geography. On the basis of type, the market is classified into Dyes and Pigments. On the basis of Dyes  is classified into Reactive Dyes, Vat Dyes, Acid Dyes, Direct Dyes, Disperse Dyes and Other Dyes. the basis of Pigments is classified into Organic Pigments and Inorganic Pigments. On the basis of application, the market is classified into Dyes and Pigments. the basis of Dyes is classified into  Printing Inks, Textiles, Paper, Leather and Others. the basis of Pigments is classified into Plastics, Paints & Coatings, Construction and Printing Inks. The geography breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and ROW.

Geographical Analysis:

Asia-Pacific region holds the lion share of dyes and pigments market at present and is expected to continue dominating the market during the forecast period. This is attributed to factors such as growth of the textiles and plastic industries in the countries such as China, India and Bangladesh. For instance, in 2022, according to the Fair Planet Organization, the textile industry in China is the largest in the world in overall production, exports and retail. Its textile section accounts for an output of 58 million tons a year in the fiber categories alone, accounting for more than 50 percent of the world’s total fiber. Also, emerging construction industries in this region commonly use dyes and pigments for house-roofing products, as well as for coating tiles, metals, panels and shingles, which in turn is fueling the market growth.

Moreover, various government initiatives and investments for technological developments in the construction industry are boosting the market growth of dyes and paints. For instance, in January 2022, according to the Ministry of Housing and Urban–Rural Development in China, the government of China unveiled a five-year development plan for the country’s construction industry with the aim to promote “greener, smarter and safer” working. According to this plan, the industry will grow at the same rate as the general economy, maintaining its 6% contribution to national GDP and employing roughly 55 million people.

On the other hand, Europe is expected to witness a moderate growth in the dyes and pigments market due to the gradually increasing production capacities of dyes in this region along with its increasing demand in end-use industries such as coatings, leather, footwear and furniture among others. For instance, in 2021, according to the Euroleather Organization, Europe accounts for 25% of the world's leather production and stands out as the leading force in international business circles in relation to leather and tanning. Europe has a turnover of nearly 8 billion Euros, with over 3 000 companies and some 50 000 people directly employed in the sector.

Moreover, the occurrence of major key players that are planning expansion of business by various strategies such as mergers, acquisitions, and collaboration is further anticipated to propel the growth of the dyes and pigments market in the region in the coming years. For instance, Clariant had merged its Pigments business with a consortium of Heubach Group and SK Capital Partners with a 20% stake. This roll-over allows Clariant to improve the profitability of the Pigments business, participate in future growth opportunities and realize synergies via the combination with Heubach’s Pigments business.

Competitive Landscape:

The dyes and pigments market comprises of various players such as BASF SE, Clariant AG, Sudarshan Chemical Industries Limited, Koel Colours Pvt. Ltd, Neelikon Food Dyes & Chemicals Limited, Atul Ltd, DIC CORPORATION, Kiri Industries Ltd, Cabot Corporation, and Huntsman International LLC. These manufacturers are actively indulging in expansions and acquisitions to enhance their products and increase their growth as well as geographical reach.

For instance, in April 2022, Cabot Corporation announced the expansion of its Inkjet manufacturing facility in Haverhill, Massachusetts with the addition of a new production line. The expansion increases the company’s global capacity for color aqueous pigment dispersions to meet the growing demand of the inkjet market for digital printing applications. Also, in June 2021, DIC Corporation has closed on the acquisition of BASF’s global pigments business. The acquisition intends to brings together the complementary portfolio of technologies, products, manufacturing assets, supply chain and customer service of the two companies to serve customers globally.

Key Benefits:

• The dyes and pigments market report provide the quantitative analysis of the current market and estimations through 2022-2030 that assist in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of dyes and pigments market trends including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints and opportunities and their impact on the dyes and pigments market is provided in the report.

• The competitive analysis of the market players along with their market share in the dyes and pigments market.

• The SWOT analysis and Porter’s Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Key Market Segments:

By  Product Type

• Dyes

  • Reactive Dyes,

  • Vat Dyes,

  • Acid Dyes,

  • Direct Dyes,

  • Disperse Dyes

  • Other Dyes

• Pigments

  • Organic Pigments

  • Inorganic Pigments

By Application

• Dyes

  • Printing Inks

  • Textiles

  • Paper

  • Leather  

  • Others

• Pigments

  • Plastics,

  • Paints & Coatings,

  • Construction

  • Printing Inks

  • Others

By Geography

• North America

  • U.S

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Rest of Asia-Pacific

• RoW

  • UAE

  • Saudi Arabia

  • South Africa

  • Brazil

  • Remaining countries

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