The Dyes and Pigments Market is segmented by Type (Dye and Pigment), End-user Industry (Paints & Coatings, Textile, Printing Ink, Plastic, Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa).
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Scope of the Report
Key Market Trends
TABLE OF CONTENTS
Fastest Growing Market:
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The market for Dyes & Pigments is anticipated to register a CAGR of over 5% during the forecast period. Major factors driving the market studied are growing demand from the paint & coating industries of Europe and Asia-Pacific, and rising demand from the textile industry. By end-user industry, the paint & coating segment is expected to dominate the market, in terms of revenue.
The industry faces several concerns regarding the emission of harmful VOCs from coatings. Conventional petroleum-based products are constantly coming under scrutiny, due to the increasing effort to reduce carbon footprint. These concerns have encouraged the emergence of bio-based solvents and pigments for exceptional bio-degradable properties. As consumers become more conscious of environmental impact and sustainability, organizations are expected to be more heavily impacted by their commitment towards minimizing the environmental footprint from their existing and upcoming products.
In the last two decades, the EPA, along with other national and international agencies, has placed increasingly strict regulations on the manufacture and use of synthetic colorants. A majority of dyes and pigment are used in the textile industry. Most processes that are performed in textile mills produce atmospheric emissions. Speculations concerning the amounts and types of air pollutants emitted from textile operations has been widespread. This is likely to hinder the market’s growth.
The field of 3D printing materials has largely been the domain of experimenters. Nevertheless, the demand for reliable commercial products is increasing. Companies now use this method for the small- and medium-scale production of customized machine parts, gourmet food items, and even customized artificial body parts. However, major manufacturing companies are looking into 3D printing for large-scale production of machine parts, toys, and consumer electronics, these are projected to act as an opportunity for the market in future.
Scope of the Report
The dyes & pigments market report includes:
Paints & Coatings
Other End-user Industries
Rest of Asia-Pacific
Rest of Europe
Rest of South America
Middle East & Africa
United Arab Emirates
Rest of Middle East & Africa
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Key Market Trends
Increasing Demand from the Paints & Coatings
Paints and coatings account for the largest share of the market and is estimated to be the 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 act as the major driver for the dye and pigment market.
In addition, public-private partnership (PPP) projects have also been increasing in the domestic construction sector.
In India, the infrastructure sector has become one of the major focus areas for the government. In the government’s budget, the construction sector was allotted USD 61.92 billion. The government aims to boost the construction of buildings in the country, for which it has decided to come up with a single window clearance facility, in order to provide speedy approval for the construction projects.
All the aforementioned factors, is expected to drive the global market during the forecast period.
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Asia-Pacific Region to Dominate the Market
The growth of textile industry in China and India is on a rapidly increasing with the availability of cheap labor force. In the global textile market, China holds the largest share of about 40%, followed by India the with over 5% share.
The production of standard plastic in Asia-Pacific region reached a total of 181,264,800 metric ton, occupying a market share of about 61% in the global standard plastics production.
The demand for textiles in South Korea has remained stable with an increasing preference for technical textiles production in the country. A strong domestic man-made fiber industry and robust non-woven production sector are providing the manufacturers an opportunity to focus on the production of high-end textiles in the country.
Among ASEAN countries, Indonesia has a major share of the paint and coating market, followed by Thailand, where the urbanization is projected to increase to 56% by 2020.
Hence, with the increasing demand from the various end-user industries, like the paint and coating, printing inks, textiles and plastics industry, the demand for dye and pigments is expected to rapidly increase over the forecast period.
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The dyes & pigments market is partially consolidated. In terms of market share, few of the major players currently dominate the market. Key players in the dyes & pigments market include BASF SE, The Chemours Company, Venator Materials PLC., Kronos Worldwide Inc., and Clariant, Bodal Chemicals Ltd, CRISTAL, Huntsman Corporation, Flint Group among others.