The global dyes and pigments market size is expected to reach USD 51.7 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.1% from 2021 to 2028. The market is projected to witness substantial growth in product consumption on account of high application scope coupled with increasing demand from the textile and paints & coatings application segments. The product demand in the Asia Pacific is expected to grow at the fastest CAGR during the forecast period. The growing construction industry, rapid industrialization & urbanization, and increasing consumer disposable income levels in the emerging economies are the primary factors driving the regional market. Moreover, strong support, various initiatives, and increasing investments by the government are propelling the growth of the construction industry in the region, which, in turn, is anticipated to fuel the product demand.

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 its weatherability and aging, 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 a preferable option as they are easily dispersed. Titanium dioxide is the most commonly used inorganic pigment in the plastics application segment.

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Natural dyes offer better UV protection than synthetic dyes. They exhibit higher UV absorption in the fabrics and result in protection from the sun’s harmful rays. Synthetic colorants tend to be harmful, rendering allergic and intolerance reactions in humans. The non-carcinogenic, non-toxic, and biodegradable characteristics of natural dyes and pigments have proved to be a safer alternative to synthetic colorants in the cosmetic industry.

Based on product type, reactive and disperse dyes are expected to witness major demand during the projected period. Dyes cover a broad range of applications from textiles to 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 and disperse dyes in the next eight years.

Major players in the market are involved in the research & development for the production of superior-quality colors that provide improved features. In addition, the companies are also adopting technological collaborations to boost the efforts in R&D activities. The products are generally distributed through the company-owned distribution channels; however, third-party distribution channels are also employed. The companies lay high emphasis on expanding the area of operation to increase their market share. The global dyes and pigments market is significantly fragmented owing to the presence of a large number of manufacturers across the globe, which include: BASF SE, Clariant AG, DIC Corp., Sudarshan Chemical Industries Ltd., Atul Ltd., Huntsman Corp., Kronos Worldwide Inc., Lanxess AG, Kiri Industries Ltd.

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