- Jan 05, 2018 -
The global dyes & pigments market size was valued at USD 30.42 billion in 2016, in terms of revenue. Increasing demand from various applications such as textiles, paints & coatings, construction, paints, and plastics are expected to drive the market growth.
Manufacturers of dyes & pigments are actively ventured into enhancing their products by utilizing advanced technologies for efficient removal of environmental and hazardous pollutants during the manufacturing process. Manufacturers of the product are likely to experience varied production costs due to volatility in the price of raw material such as benzene.
Wide distribution channel in the market is achieved through both physical retail stores and online retailing. Availability of the product online has increased the consumer base for the companies and also witnesses higher reach which is anticipated to drive product demand.
The textile industry is witnessing growth due to several factors such as growing population, increasing disposable income, and changing consumer trends. Textile industry is one of the major application for dyes and is expected to provide a positive scope for the product demand over the forecast period
Factors such as high-water consumption in the textile industry to rinse the product, solubility of the product, high metal content in pigments, and water pollution during the manufacturing process are the major restraints for the market.
Increasing environmental concerns are resulting in policy changes across the globe which is anticipated to restrain the product demand over the forecast period. Stringent regulations have been imposed in regions such as Europe and China which are likely to restrain the market growth.
Reactive dyes dominated the market with a share of 54.4%, in terms of revenue, in 2016. These are composed of highly colored organic substances and have primary application in tinting textiles. These have high resistance to fading and bright shade range which makes them suitable for coloring cotton and rayon. The consumption growth is projected to increase in regions such as Asia Pacific and Central & South America.
Reactive as well as disperse dyes are expected to witness growing demand over the projected years. The broad variety of technical as well as industrial application includes age old application of dyeing textiles, and new age application in laser dyes, organic LED (OLED), and liquid crystal displays (LCD).
Inorganic pigments earned a higher share in the market as compared to organic pigments. Properties of inorganic pigments such as good wetting, darker color, and leanness are anticipated to provide positive look for market growth over the forecast period.
Organic pigments are anticipated to grow at a CAGR of 5.8%, in terms of revenue, from 2017 to 2025. Stringent regulations affecting the inorganic pigments are likely to provide positive scope for organic pigments through internal substitution of the product.
Growing digital printing sector is anticipated to fuel the demand for dyes in printing inks application. Countries such as India and China are major producers of dyes which is likely to provide positive scope for printing inks application across the Asia Pacific.
Textiles are expected to witness a significant growth owing to rapid growing in the emerging economies. Constantly changing fashion trend is also expected to drive textiles industry, thereby propelling the market growth.
Global pigments market revenue, by application, 2016 (%)
The declining prices of textiles have decreased the import and export price significantly, thereby increasing the trade and demand for the market. Countries such as Germany, Japan, and the U.S have been witnessing decline in export/import prices in textiles providing a positive scope for dyes & pigments market.
Increasing plastics consumption worldwide due to increasing preference of the material in consumer products is anticipated to drive the dyes & pigments market over the forecast period. Recovery of domestic plastic demand in Europe and rising exports to the U.S. and China is likely to stimulate dyes & pigments industry growth over the forecast period.