The global dyes and pigments market size was valued at USD 29.60 billion in 2020 and is anticipated to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing demand from various industries, such as paints & coatings, textiles, plastics, and construction.
Dye is a substance used to color paper, materials, leather, and different materials. The color isn't promptly changed by washing, hotness, light, or different variables to which the material is to be exposed. Dyes vary from pigments, which are finely ground solids scattered in a liquid, such as ink or paint, or mixed with different materials.
A pigment is a collection of mixtures that are strongly colored and are utilized to shade different materials. Pigments are not applied as solutions but finely ground strong particles blended in with fluids. Similar colors are utilized in printing inks, oil & water-based paints, and plastics. Pigments can be inorganic or organic. The inorganic pigments last longer and brighter as compared to organic compound. Organic pigments are produced using natural sources, though most shades utilized are either synthetic or inorganic.
During the COVID-19 pandemic, the market was negatively impacted as activities in various countries were restricted, which led to disruptions in supply chain. This adversely affected the demand for dyes & pigments from several industries such as textiles and coatings.
Market Trends, Drivers, Restraints, and Opportunities
- Growing demand from the textile industry is anticipated to spur the growth of the market.
- High demand for high pressure processing pigments is estimated to contribute to the market growth.
- Increasing per capita consumption of dyes & pigments in developing markets is estimated to propel the market growth.
- Increasing environmental concerns are resulting in policy changes across the world, which can hinder the growth of the dyes and pigments market.
- Volatile price of raw materials can hamper the growth of the market.
- Technological advancements in the market can create lucrative opportunities during the forecast period.
Scope of the Report
The report on the global dyes and pigments market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Dyes and Pigments Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Dyes [Disperse Dyes, Vat Dyes, Acid Dyes, Reactive Dyes, Sulfur Dyes, and Azo Dyes) and Pigments [Organic Pigments and Inorganic Pigments]) and End-users (Textile, Plastics, Paints & Coatings, Printing Inks, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Clariant AG; KRONOS Worldwide, Inc.; The Chemours Company; Venator Materials PLC; and BASF SE
Dyes and Pigments Market Segment Insights
Reactive dye segment is projected to account for a significant market share
In terms of types, the market is bifurcated into dyes and pigments. The dyes segment is further classified as disperse dyes, vat dye, acid dyes, reactive dyes, sulfur dyes, and azo dyes. The pigments segment is categorized as organic pigments and inorganic pigments. The reactive dye segment is projected to account for a significant market share during the forecast period. Reactive dye is most commonly used dye due to its properties such as ease of application, water solubility, brightness of color shades, and easier to watch.
Paints & coatings segment is anticipated to constitute a key market share
Based on end-users, the market is segregated into textile, plastics, paints & coatings, printing inks, and others. The paints & coatings is expected to constitute a key share of the market during the forecast period due to rising construction and infrastructure activities. Decorative and architectural represent prominent utilization of colors in their creation. Public-private partnership projects are expanding the domestic construction sector.
The market of Asia Pacific to expand at a robust CAGR
On the basis of regions, the dyes and pigments market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the forecast period due to rapid development of the textile business in China and India coupled with the accessibility to cheap workforce. The rapid urbanization in these countries is anticipated to expand the demand for paints and coatings in the region during the forecast period.
Segments Covered in the Report
The dyes and pigments market has been segmented on the basis of:
- Disperse Dyes
- Vat Dyes
- Acid Dye
- Reactive Dyes
- Sulfur Dyes
- Azo Dyes
- Organic Pigments
- Inorganic Pigments
- Paints & Coatings
- Printing Inks
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Clariant AG
- KRONOS Worldwide, Inc.
- The Chemours Company
- Venator Materials PLC
- BASF SE
The key players competing in the dyes and pigments market are Clariant AG; KRONOS Worldwide, Inc.; The Chemours Company; Venator Materials PLC; and BASF SE.
In March 2019, Clariant AG launched a version of red pigment, which is its first bio-based pigment.
In April 2018, BASF SE launched stir-in pigment for automotive coatings.