Dyes & Pigments Industry Overview

Study Period: | 2018 - 2028 |
Fastest Growing Market: | Asia Pacific |
Largest Market: | Asia Pacific |
CAGR: | > 4.5 % |
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).
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Plastics | |
Other End-user Industries(leather, paper and pulp) |
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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.

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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.

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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
Venator Materials PLC
KRONOS Worldwide, Inc.
The Chemours Company
HeuBach GmBH
DIC Corporation
*Disclaimer: Major Players sorted in no particular order
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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. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand from the Paints and Coating Industry in Asia-Pacific
4.1.2 Increasing Demand from the Textile Industry
4.2 Restraints
4.2.1 Environmental Concerns Regarding the Use of Dyes and Pigments
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Dye
5.1.1.1 Reactive Dye
5.1.1.2 Disperse Dye
5.1.1.3 Sulfur Dye
5.1.1.4 Vat Dye
5.1.1.5 Azo Dye
5.1.1.6 Acid Dye
5.1.2 Pigment
5.1.2.1 Organic Pigment
5.1.2.2 Inorganic Pigment
5.2 End-user Industry
5.2.1 Paints and Coatings
5.2.2 Textile
5.2.3 Printing Inks
5.2.4 Plastics
5.2.5 Other End-user Industries(leather, paper and pulp)
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Australia & New Zealand
5.3.1.6 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Spain
5.3.3.6 Russia
5.3.3.7 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 United Arab Emirates
5.3.5.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ALTANA AG
6.4.2 Alliance Organics LLP
6.4.3 Archroma
6.4.4 Atul Ltd
6.4.5 Bodal Chemicals Ltd
6.4.6 Carl Schlenk AG
6.4.7 CATHAY INDUSTRIES
6.4.8 DIC CORPORATION
6.4.9 DuPont
6.4.10 Flint Group
6.4.11 HeuBach GmBH
6.4.12 Huntsman International LLC
6.4.13 Kiri Industries Ltd
6.4.14 KRONOS Worldwide Inc.
6.4.15 LANXESS
6.4.16 Lomon Billions
6.4.17 Mahickra Chemicals Ltd.
6.4.18 Meghmani Group
6.4.19 Merck KGaA
6.4.20 Sudarshan Chemical Industries Limited
6.4.21 The Chemours Company
6.4.22 Tronox Holdings PLC
6.4.23 Venator Materials PLC
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand for Reliable Commercial Products, like 3D Printing Materials
7.2 Other Opportunities
Dyes & Pigments Market Research FAQs
What is the study period of this market?
The Dyes and Pigments Market is studied from 2018 - 2028.
What is the growth rate of Dyes and Pigments Market?
The Dyes and Pigments Market is growing at a CAGR of >4.5% over the next 5 years.
Which region has highest growth rate in Dyes and Pigments Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Dyes and Pigments Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Dyes and Pigments Market?
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.