Pune, India, Dec. 12, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights™, 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, this information in its report titled “Dyes and Pigments Market Size, Share, Growth and Forecast Period 2022-2029.” The rising population, economic development, and the growing e-commerce industry are expected to propel the industry’s growth.
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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.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 4.9 % |
| 2029 Value Projection | USD 56.21 Billion |
| Base Year | 2021 |
| Dyes and Pigments Market Size in 2022 | USD 40.71 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 205 |
| Segments Covered | By Type, End-user and Regional Insights |
| Dyes and Pigments Industry Growth Drivers | Rising Population and Rapid Economic Development to Fuel Market Progress |
| Growing E-commerce Industry to Complement Market Growth |
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.
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.)
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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.
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 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.
Browse Detailed Summary of Research Report with TOC:
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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
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on Global Dyes and Pigments Industry
- Supply Chain Challenges
- Challenges and opportunities due to COVID-19 outbreak
- Global Dyes and Pigments Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- By Type (Volume/Value)
- Dyes
- Textiles
- Leather
- Paper
- Paints & Coatings
- Plastics
- Others
- Pigments
- Printing Inks
- Paints & Coatings
- Plastics
- Others
- Dyes
- By End-Use (Volume/Value)
- Dyes
- Textile
- Leather
- Paper
- Paints
- Plastics
- Others
- Pigments
- Printing Ink
- Paints & Coatings
- Plastics
- Others
- Dyes
- By Region (Volume/Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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