The global dyes and pigments market size is expected to reach USD 49.1 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to expand at a revenue-based CAGR of 5.0% over the forecast period. The market is projected to witness substantial growth in the consumption on account of high application scope coupled with increasing demand from textile and paints and coatings application. The product demand in Asia Pacific is expected to witness fastest CAGR during the forecast period. Growing construction industry coupled with rapid industrialization and 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 and initiatives and increasing investment by government are also propelling the growth of the construction industry in the region. This, in turn, is anticipated to fuel demand for product in Asia Pacific.
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 the plastics depends upon their weather ability and ageing, light fastness, warping and nucleation, and transparency. The demand for inorganic pigments is higher than organic in 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 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 and disperse dyes are expected to witness major demand during the projected years. Dyes cover broad range of applications including textiles, organic LEDs, and liquid crystal displays (LCD). Properties such as enhanced dyeing efficiency, photo physical/photochemical properties, and improved quality to reduce toxicity are anticipated to propel the growth of reactive and disperse dyes in the next eight years.
For More Details Please Visit @:
https://www.grandviewresearch.com/industry-analysis/dyes-and-pigments-market
Further key findings from the report suggest:
• Dyes is expected to be the fastest growing product segment of the market over the forecast period.
• The paints and coatings application segment dominated the market during the forecast period from 2020 to 2027
• The textiles application segment dominated the dyes and pigments market during the forecast period from 2020 to 2027
• Asia Pacific accounted for largest market share in 2019, owing to the increasing demand from end-use industries including textiles, paper, paints and coatings, construction, and printing inks.
Grand View Research has segmented the global dyes and pigments market on the basis of product, application, and region:
Dyes & Pigments Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
• Dyes
o Reactive
o Vat
o Acid
o Direct
o Disperse
o Others
• Pigments
o Organic
o Inorganic
Dyes & Pigments Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
• Dyes
o Printing Inks
o Textiles
o Paper
o Leather
o Others
• Pigments
o Plastic
o Paints & Coatings
o Construction
o Printing Inks
o Others
Dyes & Pigments Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
• Europe
o Germany
o U.K.
• Asia Pacific
o India
o China
• Central & South America
o Brazil
• Middle East & Africa