According to the new market research report ''Dyes & Pigments Market by Type (Dyes (Reactive, Disperse, Vat, Acid), Pigments (Titanium Dioxide, Inorganic, Organic)), Application (Textile, Leather, Paper, Paints & Coatings, Plastics, Construction) - Global Forecast to 2021", published by MarketsandMarkets™, the dyes & pigments market is projected to grow from USD 32.86 Billion in 2016 to USD 42.00 Billion by 2021, at a CAGR of 5.0% between 2016 and 2021.
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Increasing per capita consumption of dyes & pigments in emerging economies and rising demand for dyes & pigments from varied end-use industries have led to the growth of the global dyes & pigments market.
The acid dyes and organic pigments subsegments of the type segment of the global dyes & pigments market are projected to grow at the highest CAGRs between 2016 and 2021.
On the basis of type, the global dyes & pigments market has been segmented into dyes and pigments. The dyes type segment has been classified into reactive dyes, disperse dyes, VAT dyes, direct dyes, acid dyes, and others. The acid dyes subsegment of the type segment of the global dyes & pigments market is projected to grow at the highest CAGR from 2016 to 2021. Increasing use of acid dyes in textile, leather, paper, and plastic applications is due to ease of application, good leveling, and light fastening properties offered by them. The pigments type segment of the global dyes & pigments market has been classified into titanium dioxide, inorganic pigments, and organic pigments. The organic pigments subsegment of the type segment of the global dyes & pigments is projected to grow at the highest CAGR between 2016 and 2021. This growth can be attributed to the increasing demand of organic pigments for printing ink and coating applications.
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The textile application segment of the global dyes & pigments market is projected to grow at the highest CAGR during the forecast period.
The textile application segment of the global dyes & pigments market is projected to grow at the highest CAGR during the forecast period mainly due to increase in consumer spending. Moreover, growing demand for environment-friendly products is boosting use of dyes in textile application, which has led to increase in the sales of dyes. The Asia-Pacific region is projected to witness increased demand for dyes due to changing customer preferences for new and unusual textile colors and increasing per capita income.
The Asia-Pacific dyes & pigments market is projected to grow at the highest CAGR during the forecast period.
The Asia-Pacific dyes & pigments market is projected to grow at the highest CAGR between 2016 and 2021. This is due to continuously increasing population in the Asia-Pacific region, coupled with increasing disposable income. In addition, increased demand for dyes & pigments from various key countries, such as China and India is also contributing towards the growth of the dyes & pigments market in the region.
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BASF SE (Germany), Clariant AG (Switzerland), Atul Limited (India), Sudharshan Chemical Industries Limited (India), DIC Corporation (Japan), Huntsman Corporation (U.S.), Kiri Industries Ltd. (India), Kronos Worldwide, Inc. (U.S.), Lanxess AG (Germany), Tronox Limited (U.S.), among others are the key players operating in the global dyes & pigments market.
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