Dyes Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI800
The global dyes market share is projected to expand at an appreciable pace over 2021-2027, on account of the escalating product demand from end-use industries such as paints & coatings, printing inks, and textile due to myriad usage benefits including excellent absorption capability. Polymer dyes are highly soluble in the medium where they are dispersed without changing their transparency, thus resulting in their increased adoption in paints and inks.
A dye is a substance adapted to impart color to papers, textiles, leathers, and other materials with some degree of permanence, to ensure that the coloring is readily not altered by heat, light, washing, and other factors.
Mounting rate of fashion exports and subsequent creation of job opportunities and decline in the poverty rate in developing economies are the major trends characterizing the dyes market outlook. Despite the availability of different types of dyes, numerous attempts have been made to extract natural dyes from colored plants and flowers, with naturally colored products currently gaining widespread usage. Marimekko, for instance, introduced its 1st bags, garments, and home items printed with a natural indigo dye in November 2020, with an objective to deliver sustainable solutions on an industrial scale.
With regards to product, the reactive segment is set to exhibit a considerable growth rate through 2027. This is the result of its mounting adoption in viscose, cotton, and other cellulose fibers. The stable electronic arrangement of this type of dye also ensures high resistance to the degrading effect of the sunlight.
On the basis of application, the textiles/fabric segment will account for a major share over the forecast spell, due to the increasing use of dyes as a finishing technique to convert raw textile fibers into finished goods to enhance appearance.
From a regional perspective, the Asia Pacific dyes market is expected to garner high revenue over the forthcoming years, due to the availability of cheap labor force and subsequent growth of the textile industry in countries like India and China. Studies suggest that the textiles sector in India witnessed a surging investment over the past years, attracting FDI (Foreign Direct Investment) worth $3.68 billion between April 2000-December 2020.
The global dyes industry is bolstered by the presence of prominent companies such as Rockwood Holdings (Albemarle Corporation), CRISTAL, LANXESS, Kronos Worldwide (NL Industries), Huntsman Corporation, ECKART (ALTANA Chemie), DuPont, Cabot Corporation, Kiri Industries, BASF, and Clariant International, among others. Strategic product launches and business expansions are some of the efforts undertaken by these industry players to sustain a strong position globally.
For example, in March 2021, Ralph Lauren Corporation introduced a revolutionary dyeing platform, Color on Demand, to boost the sustainable and effective coloring of cotton in the fashion industry.
Meanwhile, Huntsman Textile Effects launched the HIGH IQ® Lasting Black eco program based on its AVITERA® Black SE reactive dye in September 2020. The new color-retention program was designed to help retailers, brands, and mills meet the escalating demand for eco-friendly black shades worldwide.
Significant Decline in Textile Demand due to COVID-19 & its Impact on Dyes Market Trends:
The devastating social and economic issues caused by the ongoing coronavirus pandemic have impacted every aspect of life. The implementation of lockdown and other restrictions in various countries has led to work stoppages and supply chain disruptions, negatively affecting the growth of textiles, paints & coatings, and other industries.
The dyes industry is also hugely impacted by the pandemic. However, government initiatives and lockdown relaxation will work in favor of market growth. For instance, the CITI (Confederation of Indian Textile Industry) requested the government to provide a relief package for the textile & apparel sector to mitigate the challenges in the post COVID world. This factor, alongside the gradual lifting of lockdown measures in several parts of the world, is slated to aid in the gradual recovery of demand for dyes and pigments in the upcoming years.
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