Dyes and Pigments Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Dyes and Pigments Market is segmented by Type (Dye and Pigment), End-user Industry (Paints and Coatings, Textile, Printing Inks, Plastics, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for dyes and pigment market in revenue (USD million) for all the above segments.

Dyes & Pigments Industry Overview

Dyes and Pigments Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 4.5 %

Major Players

Dyes and Pigments Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Dyes & Pigments Market Analysis

The dyes and pigments market was valued at over USD 29,000 million in 2021 and is projected to register a CAGR of greater than 4.5% during the forecast period (2022-2027).

Due to the COVID-19 outbreak, nationwide lockdown around the globe, disruption in manufacturing activities and supply chains, production halts, and labor unavailability have negatively impacted the dyes and pigment market. However, the conditions started recovering in 2021, which will likely restore the market's growth trajectory during the forecast period.

  • Over the medium term, growing demand from the paints and coatings industry of Asia-Pacific and increasing demand from the textile industry are expected to boost the market.
  • On the flip side, environmental concerns regarding the use of dyes and pigments are hindering the market growth.
  • The Asia-Pacific region is expected to dominate the global market, with the largest consumption from China and India.

Dyes & Pigments Industry Segments

Dyes and pigments are substances used to impart color to a material. The term colorant is often used for both dyes (also called dyestuffs) and pigments. The significant difference between dyes and pigments is particle size. Dyes are much finer than pigments. Pigments and dyes are the key raw materials for various end-user industries, including paints and coatings, textile, and plastic. The dyes and pigments market is segmented by type, end-user industry, and geography. By type, the market is segmented into dye and pigment. By end-user industry, the market is segmented into paints and coatings, textile, printing inks, plastics, and other end-user industries. The report also covers the market size and forecasts for the dyes and pigments market in 19 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (USD million).

Type
Dye
Reactive Dye
Disperse Dye
Sulfur Dye
Vat Dye
Azo Dye
Acid Dye
Pigment
Organic Pigment
Inorganic Pigment
End-user Industry
Paints and Coatings
Textile
Printing Inks
Plastics
Other End-user Industries(leather, paper and pulp)
Geography
Asia-Pacific
China
India
Japan
South Korea
Australia & New Zealand
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
United Arab Emirates
Rest of Middle-East and Africa

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Dyes & Pigments Market Trends

This section covers the major market trends shaping the Dyes & Pigments Market according to our research experts:

Increasing Demand from the Paints and Coatings

  • Paints and coatings account for the largest share of the market and are estimated to be the largest and fastest-growing end-user industry.
  • Architectural and decorative coatings account for the largest consumption of pigments in their production. Thus, rising construction and infrastructure activities in Asia-Pacific are the primary driver for the dye and pigment market.
  • Various expansions in the paints and coatings industry will augment the pigment markets in the coming years. For reference, in November 2021, Asian Paints announced plans to invest USD 127 million in the Gujarat plant, India, in the expansion of paints manufacturing capacity from 130,000 kilo liters to 250,000 kilo tons in the next two to three years.​
  • In May 2021, PPG Industries, Inc. invested USD 13 million to expand its paints and coatings unit in China, including eight new powder coating production lines and an expanded powder coatings technology center. This expansion will increase the capacity by more than 8,000 metric tons annually.​
  • Furthermore, in the automotive sector, paints and coatings are used in the interior and exterior parts of the vehicle, as they impart protection and appeal to vehicles. They are used in metallic parts and plastic vehicle components of automobiles.
  • According to the OICA data, global automotive production increased by around 10% and reached 57.26 million units in the first nine months of 2021, compared to 52.15 million units in the same period in 2020. ​The car sales increased by around 29% in the first half of 2021 compared to 2020, reaching 44.40 million units, hence driving the market studied in the forecast period.
  • All the aforementioned factors are expected to drive the global market during the forecast period.
Dyes and Pigments Market, Revenue (%), by End-user Industry, Global, 2021

Asia-Pacific Region to Dominate the Market

  • The growth of the textile industry in China and India is rapidly increasing with the availability of a cheap labor force, thus augmenting the dyes and pigments demand. In the global textile market, China holds the largest share of about 40%, followed by India with over 5% share.
  • The textile industry of China grew steadily during the first nine months of 2021, with collective profits worth CNY 171.1 billion (approximately USD 26.80 billion), a 31.7% increase year-on-year (YoY), according to the Ministry of Industry and Information Technology (MIIT).
  • According to the IBEF, in India, textiles and apparel exports, including handicrafts, totaled USD 29.8 billion between April and December 2021, up from USD 21.2 billion during the same period the previous year, thus registering a robust 41% increase over the previous year.
  • In September 2021, Axalta announced that it broke ground for the construction of a state-of-the-art coatings facility in Jilin City, Jilin Province, North China. The 46,000-square-meter new plant will produce mobility coatings to support growing customer demand in China for light vehicles, commercial vehicles, and automotive plastic components.
  • Furthermore, according to the National Bureau of Statistics of China, about 7.95 million metric tons of plastic products were produced in December 2021, compared with 7.32 million metric tons in November 2021.
  • According to the Plastics Export Promotion Council (PLEXCONCIL), India’s plastics export increased by 55% to USD 3,417 million (cumulative value) in April to June 2021 as compared to USD 2,211 million in April-June 2020, thus augmenting the market.
  • Hence, with the increasing demand from the various end-user industries, like the paints and coatings, textiles, and plastics industries, the demand for dyes and pigments is expected to increase over the forecast period rapidly.
Dyes and Pigments Market - Growth Rate by Region, 2022-2027

Dyes & Pigments Market Competitor Analysis

The dyes and pigments market is partially consolidated. In terms of market share, few major players currently dominate the market. Key players (not in any particular order) in the dyes and pigments market include Venator Materials PLC., KRONOS Worldwide Inc., The Chemours Company, HeuBach GmBH, and DIC Corporation, among others.

Dyes & Pigments Market Top Players

  1. Venator Materials PLC

  2. KRONOS Worldwide, Inc.

  3. The Chemours Company

  4. HeuBach GmBH

  5. DIC Corporation

*Disclaimer: Major Players sorted in no particular order

Dyes and Pigments Market Concentration

Dyes & Pigments Market Recent Developments

  • In January 2022, Clariant completed the sale of its Pigments business to a consortium of Heubach Group (“Heubach”) and SK Capital Partners (“SK Capital”). However, the company retains a 20 % stake in the newly formed Group.
  • In June 2021, DIC Corporation closed on the acquisition of BASF’s global pigments business, known as BASF Colors & Effects (BCE), in continuation with the August 2019 announcement.

Dyes & Pigments Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from the Paints and Coating Industry in Asia-Pacific

      2. 4.1.2 Increasing Demand from the Textile Industry

    2. 4.2 Restraints

      1. 4.2.1 Environmental Concerns Regarding the Use of Dyes and Pigments

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Dye

        1. 5.1.1.1 Reactive Dye

        2. 5.1.1.2 Disperse Dye

        3. 5.1.1.3 Sulfur Dye

        4. 5.1.1.4 Vat Dye

        5. 5.1.1.5 Azo Dye

        6. 5.1.1.6 Acid Dye

      2. 5.1.2 Pigment

        1. 5.1.2.1 Organic Pigment

        2. 5.1.2.2 Inorganic Pigment

    2. 5.2 End-user Industry

      1. 5.2.1 Paints and Coatings

      2. 5.2.2 Textile

      3. 5.2.3 Printing Inks

      4. 5.2.4 Plastics

      5. 5.2.5 Other End-user Industries(leather, paper and pulp)

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Australia & New Zealand

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Spain

        6. 5.3.3.6 Russia

        7. 5.3.3.7 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 United Arab Emirates

        4. 5.3.5.4 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ALTANA AG

      2. 6.4.2 Alliance Organics LLP

      3. 6.4.3 Archroma

      4. 6.4.4 Atul Ltd

      5. 6.4.5 Bodal Chemicals Ltd

      6. 6.4.6 Carl Schlenk AG

      7. 6.4.7 CATHAY INDUSTRIES

      8. 6.4.8 DIC CORPORATION

      9. 6.4.9 DuPont

      10. 6.4.10 Flint Group

      11. 6.4.11 HeuBach GmBH

      12. 6.4.12 Huntsman International LLC

      13. 6.4.13 Kiri Industries Ltd

      14. 6.4.14 KRONOS Worldwide Inc.

      15. 6.4.15 LANXESS

      16. 6.4.16 Lomon Billions

      17. 6.4.17 Mahickra Chemicals Ltd.

      18. 6.4.18 Meghmani Group

      19. 6.4.19 Merck KGaA

      20. 6.4.20 Sudarshan Chemical Industries Limited

      21. 6.4.21 The Chemours Company

      22. 6.4.22 Tronox Holdings PLC

      23. 6.4.23 Venator Materials PLC

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Demand for Reliable Commercial Products, like 3D Printing Materials

    2. 7.2 Other Opportunities

**Subject to Availability
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Dyes & Pigments Market Research FAQs

The Dyes and Pigments Market is studied from 2018 - 2028.

The Dyes and Pigments Market is growing at a CAGR of >4.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

Venator Materials PLC, KRONOS Worldwide, Inc., The Chemours Company, HeuBach GmBH, DIC Corporation are the major companies operating in Dyes and Pigments Market.

Dyes and Pigments Industry Reports

In-depth industry statistics and market share insights of the Dyes and Pigments sector for 2020, 2021, and 2022. The Dyes and Pigments research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Dyes and Pigments report PDF.

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