Enjoy complimentary customisation on priority with our Enterprise License!
The dyes and pigments market size is estimated to grow by USD 14.3 billion, at a CAGR of 5.9% between 2023 and 2028. The market is witnessing significant growth due to the increasing demand from various industries, including technical textiles, plastics, and food and beverages. Technological advancements in dyeing and printing processes are also driving market growth, enabling manufacturers to produce high-quality products with improved color consistency and durability. However, the market is facing challenges from the volatility in raw material prices used in manufacturing dyes and pigments, particularly those derived from petroleum and natural sources. This volatility can impact the profitability of manufacturers and may lead to price fluctuations in the market. Additionally, growing environmental concerns and regulations regarding the use of certain dyes and pigments, particularly those containing heavy metals, are also posing challenges to market growth. Overall, the market is expected to continue its growth trajectory, driven by increasing demand and technological advancements, while addressing the challenges posed by raw material prices and environmental regulations.
To learn more about this report, View Report Sample
The pigments segment is estimated to witness significant growth during the forecast period. Pigments are responsible for imparting vivid and long-lasting color to the paint. They improve the appearance of the surface, increase resistance to weathering and fading, and contribute to the overall longevity of the paint. In addition, in the plastic industry, pigments are used to color plastic materials and increase their eye-catching properties. They are used in the manufacture of a wide variety of plastic products, such as toys, packaging materials, auto parts, and electrical components.
Get a glance at the market contribution of various segments View the PDF Sample
The pigments segment was the largest segment and was valued at USD 24.30 billion in 2018. Pigments give the resin its color while remaining stable under various processing conditions. Furthermore, there are two types of pigments on the market, organic pigments and inorganic pigments. Organic pigments are derived from organic compounds and are widely used to provide vivid and vibrant colors. Inorganic pigments are derived from minerals and do not contain organic compounds. They are known for their excellent heat resistance, stability, and durability. Therefore, such factors are expected to raise the use of pigments, which will drive the growth of the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
Europe is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Rapid industrialization, growing urbanization, and the rising demand for various end-user products are the key factors driving the growth of the market in this region. Countries such as China, India, and Japan have invested heavily in developing advanced manufacturing capabilities, enabling them to produce high-quality dyes, including organic dyes and pigments, at competitive prices.
Moreover, another key factor contributing to the growth of the market in the region is the growing disposable income of the people and changing consumer preferences in the region. As consumer purchasing power increases, so demand for a wide range of products, including textiles, automobiles, and packaging materials is also raised. These industries heavily depend on dyes and pigments for vibrant colors and high aesthetics. Therefore, these factors will drive the growth of the market in APAC during the forecast period.
The market is influenced by factors such as the manufacturing process, production costs, and volatility in raw material prices. With the shift towards online retailing and the growth of e-commerce platforms, the market has seen changes in its distribution network. However, environmental concerns, such as water pollution and the high metal content in pigments, pose challenges. Stringent regulations and policy changes impact the industry, particularly in applications like the textile industry. The market offers a wide range of products, including reactive dyes and organic pigments, known for their resistance to fading and ability to produce bright shades. The market is evolving with a focus on eco-friendly products and bio-based dyes. Cathay Industries and high performance pigments are leading innovations. Textile exports and mega textile parks boost demand for direct dyes, vat dyes, sulfur dyes, disperse dyes, acid dyes, and metal complex dyes. Manufacturing capacity for granules, liquids, pastes, pellets, dry powders, and chips is expanding to meet the textile business needs, emphasizing tinting strength, baking stability, and solvent resistance. Polymers, rubber, and urea formaldehyde resins are critical in this sector.
Rising awareness about the use of organic and natural dyes is the key factor driving the growth of the market. One of the primary reasons for the increasing popularity of organic and natural dyes is their minimal impact on human health. These dyes are derived from renewable sources like plants, vegetables, and fruits, making them safe for use in products that directly contact the human body. They also offer benefits such as lower water consumption compared to reactive dyes, as well as organic substances that provide resistance to fading and bright shades when coloring cotton and rayon. Additionally, inorganic pigments are commonly used in various primary applications.
Additionally, organic and natural dyes offer environmental benefits by being sourced sustainably, reducing the carbon footprint associated with their production, and minimizing negative impacts on the ecosystem. Moreover, organic dyes provide a wider range of colors, which has led to their adoption in the beauty and cosmetics industry. This adoption offers consumers a safer and more eco-friendly alternative. Overall, these factors are expected to drive the demand for organic and natural dyes, contributing to the growth of the global dyes and pigment market in the forecast period.
Technological advancements in dyeing and printing processes is the key trend in the market. The market has witnessed significant advancements in technology, leading to enhanced efficiency, cost-effectiveness, and sustainability across various end-user industries, including textiles, paints and coatings, construction, plastics, and advanced technologies. In the textile sector, digital printing has emerged as a game-changer, offering high-quality, precise results on various fabrics with minimal waste. This innovation eliminates the need for multiple screens, cylinders, and stencils, thereby reducing setup time and cost. Moreover, digital printing enables customized designs and patterns based on individual customer preferences, ensuring faster turnaround times. In the realm of paints and coatings, inorganic pigments like iron oxide and organic pigments have gained popularity due to their superior properties such as lightfastness, heat stability, and chemical resistance.
In the advanced technologies sector, organic substances are being used to replace hazardous chemicals, ensuring safer manufacturing conditions. In summary, technological advancements have led to improved efficiency, cost-effectiveness, and sustainability across various industries. Digital printing in textiles, inorganic and organic pigments in paints and coatings, and eco-friendly pigments in plastics are some of the key trends driving market growth. The focus on sustainable manufacturing practices and regulatory compliance is expected to continue shaping the market landscape in the coming years. Thus, such trends will shape the growth of the market during the forecast period.
The rise in health and safety concerns due to synthetic dyes and pigments affects the growth of the market. One of the main concerns is the presence of harmful chemicals in dyes and pigments, which can adversely affect human health. Studies have shown that long-term exposure to these chemicals can increase the risk of developing different types of cancer, including lung, bladder, and skin cancers. Another important health problem concerns the potential toxicity of dyes and pigments when they come into contact with the skin.
Furthermore, there are environmental safety issues associated with the manufacture and use of certain dyes and pigments. Synthetic dyes and pigments are made from non-renewable resources and require large amounts of water and energy to produce. Treating wastewater containing dyes and pigments can also negatively impact water availability, contaminating and harming aquatic life. As a result, these factors are expected to impede the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Vibrantz Technologies: The company offers dyes and pigments such as Cu-Phthalo Blue, Pigment Red 146, Pigment Violet 23, and Pigment Yellow 83.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is a significant contributor to various industries, including textiles, paints and coatings, construction, plastics, and advanced technologies. Reactive dyes are widely used in textiles for tinting, while organic and inorganic pigments are employed in paints, coatings, plastics, printing inks, and other applications. The construction sector's spending on infrastructure development and infrastructural projects fuels the demand for pigments and dyes. However, environmental concerns, such as hazardous pollutants from high metal content and high water consumption, have led to stringent regulations. Benzene, a known carcinogen, is a concern in the textile industry. E-commerce logistics platforms have emerged as a popular sales channel, enabling easy access to a wide range of pigments and dyes.
Advanced technologies, such as covalent bonding, are used to enhance color and density in various applications. Policy changes and increasing focus on eco-friendly products have led to the development of sustainable pigments and organic products. Natural variants, such as iron oxide pigments, are gaining popularity due to their high performance and eco-friendly attributes. Optical brighteners and color enhancing agents are used to improve the color and density of products. High-performance pigments offer excellent lightfastness, heat stability, and chemical resistance. The market is expected to grow significantly due to the increasing demand for fashion apparel and sustainable pigments.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
182 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.9% |
|
Market growth 2024-2028 |
USD 14.3 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
5.57 |
|
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
Europe at 39% |
|
Key countries |
US, China, Japan, UK, and Germany |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
AGROFERT AS, Archroma Management, Atul Ltd., Cabot Corp., Clariant AG, Dainichiseika Color and Chemicals Mfg. Co. Ltd., DIC Corp., Dow Inc., Flint Group, Heubach GmbH, Huntsman Corp., Kemira Oyj, Kronos Worldwide Inc., Lanxess AG, Pidilite Industries Ltd, Sudarshan Chemical Industries Ltd., Toyo Ink, Venator Materials Plc, Vibrantz, and Zhejiang Longsheng Group Co. Ltd. |
|
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period. |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
