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

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

Dyes And Pigments Market Growth & Trends

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.

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 Report Highlights

• 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

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