NEW YORK, The global demand for organic dyes and pigments market is projected to reach US$ 22 Bn in 2022, growing at a CAGR of 5.4% during the forecast period (2022-2032).
Demand for dyes and pigments to color different substrates, such as paper, hair, drugs, leather, grease, wax, and textile materials is expected to spur the sales. On account of this, the organic dyes and pigments market is expected to surpass US$ 37 Bn by 2032.
Besides this, rising demand for colorants in the textile and paints & coatings industries is projected to increase the adoption of organic dyes and pigments over the coming years. Also, growing preference for organic soap and light acids resistant compounds is likely to create lucrative prospects for the organic dyes and pigments market.
Rapid urbanization and government initiatives for developing modern infrastructure has increased the construction activities. This is propelling the demand for paints and coatings, thereby, improving the sales of organic dyes and pigments.
Additionally, growing environmental concerns due to emission of hazardous pollutants during the manufacturing of traditional dyes and paints is likely to improve the demand for organic dyes and pigments.
Further, increasing popularity of digital printing for modern infrastructure is estimated to spur the demand for dyes for application in the printing inks. In addition to this, India and China are expected to be the major producers of dyes. This is estimated to offer lucrative opportunities for the growth in Asia Pacific market.
Key Takeaways:
Asia Pacific is anticipated to dominate the market on the back of increasing demand for polyester coupled with expansion of textile industry in India. Based on product type, the organic dyes segment is estimated create an absolute $ opportunity of US$ 12 Bn by the end of 2032. In terms of application, the overall sales of organic dyes and pigments in textiles sector is projected to reach US$ 9 Bn during the forecast period. In terms of volume, the consumption of organic dye and pigment registered in 2021 was around 4,452 tons.
Growth Drivers:
Growing environmental sustainability concerns among the consumers has surged the demand for eco-friendly products such as organic dyes and pigments. This is likely to bode well for the market. Improved standard of living and increasing purchasing power is pushing the demand for innovative and high-quality infrastructure. This is expected to fuel the demand in paints, coatings & inks segment.
Restraints:
Stringent regulations regarding the manufacturing of dyes and pigments to reduce carbon emission and water pollution might limit the sales in the coming years. Fluctuations in production costs owing to unpredictability in raw materials cost, such as benzene, might impede the growth.
Competitive Landscape:
According to Fact.MR, the top players of the global organic dyes and pigments market are KRONOS Worldwide, Inc., Atul Ltd, Cabot Corporation, Clariant, and DIC CORPORATION. These players are estimated to account for nearly 30% of the overall market share.
Leading players are adopting organic growth strategies such improving the production capacities to strengthen their global presence. Besides this, some of the players are also updating their product lines to expand their businesses in the coming years.
For instance,
March 2019: Clariant partnered with Neste, a renewable hydrocarbon producer, to develop the first-ever bio-based version of Pigment Red 254. This is likely to aid in reducing the consumption of fossil resources and fossil-based carbon emissions. January 2020: Organic Dyes and Pigments (ORCO) launched its new addition of OrcoTint™ NS Bright Green GL to its existing “OrcoTint™NS Polymeric Color” line. This new dye improves the prevailing palette of three different blue shades and a violet to offer the users with a better, unique and non-staining colorant that fits their needs.
Key Companies Profiled by Fact.MR
Cabot Corporation BASF SE Clariant KRONOS Worldwide Inc. Atul Ltd Sudarshan Chemical Industries Limited DIC CORPORATION Organic Dyes and Pigments (ORCO) DuPont Huntsman International LLC. Kiri Industries Ltd.
More Valuable Insights on Organic Dyes and Pigments Market
Fact.MR, in its report, offers a market analysis on the global organic dyes and pigments market providing unbiased analysis for the forecast period of 2022 to 2032. This survey also reveals the growth projections in the organic dyes and pigments market with detailed segmentation on the basis of:
By Product Type:
Organic Pigments Organic DyesBy Application: Textiles Leather Paper Paints, Coatings & Inks Food & Beverages Pharmaceuticals Cosmetics Others
By Region:
North America Latin America Europe East Asia South Asia & Oceania Middle East & Africa
To Remain ‘Ahead’ of Your Competitors, Buy the Report Now!
Key Questions Covered in the Organic Dyes and Pigments Market Report
Which are factors driving the growth in the organic dyes and pigments market? What is the expected sales of global organic dyes and pigments market during 2022-2032? At what rate will the global organic dyes and pigments market grow until 2032? Which are the challenges faced in the global organic dyes and pigments market? Who are the key manufacturers in the organic dyes and pigments market? Which region is anticipated to exhibit fastest growth rate in global organic dyes and pigments market?
Explore Fact.MR’s Coverage on the Chemical and Materials Domain
Bio based Pigments and dyes Market Trends: The overall sales of bio based pigments and dyes are anticipated to increase owing to growing adoption of sustainable solutions for eliminating carbon emission. Furthermore, awareness regarding the effects of synthetic variants on the environment and water is likely to increase the demand for bio based pigments and dyes.
Cosmetic Grade Color Additives Market Forecast: Increasing application of cosmetic grade color additives in make-up products to enable staining of the skin will create growth avenues for the expansion of the market. In addition to this, growing popularity of organic color additives will further stoke the sales in the market.
Coating Pigments Market Analysis: Ongoing advancements in the automotive industry and demand for aesthetic colors on vehicles is projected to increase the demand for coating pigments. Also, surging demand for protective coating in aerospace and marine sectors will create conducive environment for the growth of coating pigments market.
About Fact.MR
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have in our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & chemical and materials, our coverage is expansive, but we ensure even the most niche categories are analysed. Reach out to us with your goals, and we’ll be an able research partner.
marketngage
Now avail flexible Market Research Subscription through MarketNgage, the Market Research Subscription Platform from Future Market Insights and other iconic market research powerhouses. Go beyond just reports and access research multi-format through downloadable executive summaries, chapters, databooks, infographics, charts, interactive playbook for data visualization and full reports across all major industries, 200+ sub sectors and 1200+ niche markets, through MarketNgage.
This article was shared with Prittle Prattle News as a Press Release by PRNewswire.
