SAN FRANCISCO, April 4, 2023 /PRNewswire/ -- The global dyes and pigments market size is expected to reach USD 57.8 billion by 2030, expanding at 5.3% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is projected to witness substantial growth on account of the high application scope coupled with increasing demand from textile and paints & coatings applications.
Key Industry Insights & Findings from the report:
- Asia Pacific dyes & pigments industry was valued at USD 24.2 billion in 2022 and is estimated to grow at a CAGR of 6.0% from 2023 to 2030. Increasing demand from end-use industries including textiles, paper, paints & coatings, construction, and printing inks among others are anticipated to drive market growth in the region.
- The Dyes segment is expected to be the fastest-growing product segment of the global dyes & pigments industry over the forecast period.
- The paints & coatings application segment accounted for the largest market share in the pigments market with more than 37.0% in 2022. It is estimated to maintain its dominance over the forecast period owing to the unceasing demand from several end-use industries like automotive, marine, among others.
- The textiles application segment dominated the dyes industry in 2022 with more than 62% market share. It is expected to continue its dominance from 2023 to 2030.
Read 130-page full market research report for more Insights, "Dyes And Pigments Market Size, Share & Trends Analysis Report By Product (Dyes (Reactive, Vat, Acid, Direct, Disperse), Pigment (Organic, Inorganic)), By Application, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Dyes And Pigments Market Growth & Trends
The product demand in Asia Pacific is expected to grow at the fastest CAGR during the forecast period. Growing construction industry coupled with rapid industrialization & urbanization, increasing disposable income of middle-class families in the emerging economies of the region is likely to be the primary driving factor in coming years. Moreover, strong government support, initiatives, and increasing investment by governments are also propelling the growth of the construction industry in the region which in turn is anticipated to fuel demand for products in the Asia Pacific region.
Increasing utilization of plastics in consumer goods is anticipated to provide a positive scope for market growth over the forecast period. Pigments are added to polymers to obtain the specific colors in plastic products. Its use in plastics depends upon factors such ability to withstand harsh weather conditions, the aging process, lightfastness, warping & nucleation, and transparency.
The demand for inorganic pigments is higher than for organic plastics. The organic pigments tend to form clumps owing to their poor dispersion, which further results in spots and specks in the final product. As a result, inorganic pigments are the preferable option as they are easily dispersed. Titanium dioxide is the widely used inorganic pigment in the plastics application segment.
Based on product type, reactive dyes and disperse dyes are expected to witness major demand during the projected years. Dyes cover a broad range of applications from being used in textiles to their application in organic LEDs and liquid crystal displays (LCD). Properties such as enhanced dyeing efficiency, photophysical/photochemical properties, and improved quality to reduce toxicity are anticipated to propel the growth of reactive dye and disperse dyes in the next eight years.
Dyes And Pigments Market Segmentation
Grand View Research has segmented the global dyes and pigments market based on product, application, and region
Dyes And Pigments Market - Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Dyes
- Reactive Dyes
- Vat Dyes
- Acid Dyes
- Direct Dyes
- Disperse Dyes
- Others
- Pigments
- Organic
- Inorganic
Dyes And Pigments Market - Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Dyes
- Printing Inks
- Textiles
- Paper
- Leather
- Others
- Pigments
- Plastics
- Paints & Coatings
- Construction
- Printing Inks
- Others
Dyes And Pigments Market - Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- India
- China
- Central & South America
- Brazil
- Middle East & Africa
List of Key Players in Dyes And Pigments Market
- BASF SE
- Clariant AG
- DIC Corporation
- Sudarshan Chemical Industries Limited
- Atul Ltd.
- Huntsman Corporation
- Kronos Worldwide Inc.
- Lanxess AG
- Kiri Industries Ltd.
Check out more related studies published by Grand View Research:
- Iron Oxide Pigments Market- The global iron oxide pigments market size is expected to reach USD 3.1 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.7% from 2021 to 2028. Iron oxide pigments are widely used in various applications such as construction, coatings, plastics, and paper. The growing construction industry across the globe, notably in the fast-emerging regions including Asia Pacific, is anticipated to fuel the demand for iron oxide pigments over the forecast period.
- Inorganic Color Pigments Market - The global inorganic color pigments market size is anticipated to reach USD 3.93 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 3.0%, in terms of revenue, over the forecast period. Rising demand for inorganic color pigments in plastics, printing inks, and paints and coating application is anticipated to fuel the market growth.
- Water Based Pigments Market - The global water based pigments market is expected to reach USD 13.40 billion by 2024, according to a new report by Grand View Research, Inc. Water based pigments demand is primarily driven by the rising consumer awareness regarding eco-friendly products and stringent government regulations to limit VOC content in the industrial products. Growing demand for aqueous pigment dispersion systems for manufacturing inks for printing and textile applications is expected to have a positive impact on the industry growth over the forecast period.
Browse through Grand View Research's Paints, Coatings & Printing Inks Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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