The Global Dyes And Pigment Market—Driven By Digital Textile Printing And Organic Pigments—Is Predicted To Soar To $58.8 Billion By 2028
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According to Grand View Research, The global dyes and pigments market size was valued at USD 32.9 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2021 to 2028.
Increasing demand from various application industries, such as Digital Textiles, is expected to drive the market growth.
Major producers are actively venturing into enhancing their products by utilizing advanced technologies for the efficient removal of hazardous pollutants during the manufacturing process.
Manufacturers are likely to experience varied production costs due to volatility in the prices of raw materials, such as benzene.
A wide distribution network in the market is achieved through both physical retail stores and online retailing.
The textiles segment dominated the dyes market with a share of over 62%, in terms of revenue, in 2020.
The growing digital printing sector is anticipated to fuel the demand for dyes in printing inks applications.
Countries, such as India and China, are major producers of dyes, which is likely to provide positive scope for printing inks application across the Asia Pacific region.
The reactive dyes segment dominated the market with a revenue share of more than 56% in 2020.
These products are composed of highly colored organic substances and have primary application in tinting textiles.
They have a high resistance to fading and are available in a range of bright shades, which makes them suitable for coloring cotton and rayon.
Moreover, they can form a covalent bond with the fiber during the process of dyeing.
It also includes a parent dye, a linking group, and an active group.
These advantages enable them to possess characteristics, which are superior and preferable over other dyes used in cellulose fibers.
The segment is estimated to expand further at the fastest CAGR from 2021 to 2028.
Inorganic pigments earned a higher share in the market as compared to organic pigments due to properties, such as good wetting, darker color, and leanness.
However, the organic pigments segment is anticipated to register the fastest CAGR of 5.6%, in terms of revenue, from 2021 to 2028.
Stringent regulations affecting the inorganic pigments demand are also likely to provide positive scope for organic pigments through internal substitution of the product.
About Grand View Research
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The company provides syndicated research reports, customized research reports, and consulting services.
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