Dyes & Pigments Market - Growth, Trends, and Forecast (2019 - 2024)

SKU ID : INH- 13487381

Publishing Date : 01-Apr-2019

No. of pages : 125

PRICE
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  • Market Overview

    The market for dyes & pigments is anticipated to register a CAGR of 5.46% during the forecast period (2019-2024). Major factors driving the market studied are increasing demand from the paints and coatings industries of Europe and Asia-Pacific, and rising demand from the textile industry. In 2018, by end-user industry, the paints and coatings 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 toward 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 have been widespread. This is likely to hinder the market growth.

    Key Market Trends

    Increasing Demand from the Paints & Coatings

    - Paints & 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 dyes and pigments 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. The government aims to boost the construction of buildings in the country, and 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 are expected to drive the global market, during the forecast period.

    Asia-Pacific Region to Dominate the Market

    The Asia-Pacific region accounted for the largest share of the dyes and pigments market. The growth of the textile industry in China and India is rapidly increasing, with the availability of cheap labor force. In the textile market, China holds the largest share of about 40%, followed by India, with over 5% share. Among ASEAN countries, Indonesia has a major share of the paints and coatings 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 paints and coatings, printing inks, textiles, and plastics industry, the demand for dyes and pigments is expected to rapidly increase over the forecast period.

    Competitive Landscape

    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 and pigments market include BASF SE, the Chemours Company, Venator Materials PLC, Kronos Worldwide Inc., Clariant, Bodal Chemicals Ltd, CRISTAL, Huntsman Corporation, and Flint Group, among others.

    Reasons to Purchase this report:

    - The market estimate (ME) sheet in Excel format
    - Report customization as per the client's requirements
    - 3 months of analyst support

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    This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.

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