Dyes & Pigments Market

Market Overview

The global dyes & pigments market size was valued at USD 36.2 billion in 2021 and is projected to reach USD 58.26 billion by 2030, registering a CAGR of 5.43% from 2022 to 2030.

Pigments and dyes are two types of colorants that find widespread application in the printing, textile, and automotive sectors, respectively. Dye compounds are ionizing and aromatic substances, and they have a strong attraction to the surface to which they are applied. In order to modify the color of dyes, color modifiers such as methyl and ethyl groups are frequently utilized. In addition to their usage as colorants in a wide variety of polymer and textile dyeing applications, dyes are also utilized in the field of biotechnology.

Dyes are available in a wide variety of forms, including granules, liquids, pastes, pellets, dry powders, and chips, and they are used for a variety of applications in the fields of decoration, aesthetics, and art. The pigment can be either organic or inorganic, and it takes the form of a powdery solid that is insoluble. Pigments have several beneficial properties, including high tinting strength, good baking stability, exceptional resistance to solvents, a readily dispersible nature, high baking stability, and unique hues that are consistent with one another. Additionally, pigments are utilized in the production of paints, which can serve both as ornamental and protective coatings. These are also used to impart color to a variety of polymers and rubber, including polyvinyl chloride (PVC), acrylonitrile-butadiene-styrene resins (ABS), and nylons and rubber. Urea-formaldehyde (U-F) resins are colored using these.

Market Dynamics

Global Dyes & Pigments Market Drivers

• Robust demand from the coatings & paints industry

Both dyes and pigments are chemicals that are utilized in the process of imparting color to a material. It is probable that the expansion of the coatings and paints industry will be fueled by the growing demand for the product in the sector. In addition, an increased understanding of the corrosion resistance, mechanical strength, toughness, transparency, and color of the solids is anticipated to boost demand for them. In addition to this, the expanding use of chemicals in the ornamental, automotive, and architectural industries is anticipated to boost sales of the product. In addition to this, it is anticipated that the success of the sector will be driven forward by the growing need for coatings in the manufacturing industry. These factors have the potential to fuel growth in the dyes and pigments market.

Global Dyes & Pigments Market Restraints

• Increase in regulatory restriction

One of the primary aspects that is anticipated to be one of the primary factors restricting the growth of the dyes and pigments market is the increasing number of regulatory constraints placed on the manufacture of dyes and pigments. The Environmental Protection Agency of the United States has adopted laws that identify potential consequences of waste generated from the production of product classes including azo, triarylmethane, anthraquinone dye, and pigment. These product classes include anthraquinone dye.

Global Dyes & Pigments Market Opportunity

• Rise in the textile industry to drive market growth

The expansion of the textile business is attributable to a number of variables, including global depletion of available capital, quick changes, and climate-related unpredictability, a growing population, a greater understanding of organic products, and technical advancement. Luxury brands have begun to enter the Asia-Pacific market as domestic demand in the region has gradually increased.

China, Japan, India, and the United States control the worldwide textile market. In 2018, China was the world's top manufacturer and exporter of textile garments. In 2018, China's textile exports increased by almost 3 percent, and it led the world in textile production, accounting for nearly a quarter of the worldwide textile sector. Europe's biggest textile exporters include France, Italy, the Netherlands, Spain, and Germany, which account for approximately 32,1 percent of global textile exports. India had the third-largest textile manufacturing sector in the world. The United States has been one of the largest textile consumers.

Typically, textiles are colored to make them more appealing. There are two methods for coloring a textile: substrate impression and dying. Dyeing is the process of coloring a textile material with a dye. This item is used to color the materials. There are numerous types of dyes, including direct dyes, vat dyes, reactive dyes, sulfur dyes, disperse dyes, acid dyes, and metal complex dyes, each with unique characteristics and fiber affinity. Acid dyes are primarily employed to color linen, silk, and nylon, while comparable or substantial dyes have a high affinity for cellulose fibers. Dyeing synthetic product types such as fibers, yarns, and others with dyes and pigments. Thus, it is anticipated that the expansion of the global textile sector would generate potential prospects for this market.

Regional Analysis

The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.

As a result of the region's expanding middle class population, Asia Pacific is anticipated to have the largest share of the dyes and pigments market. It is anticipated that the market in the Asia Pacific region will expand favourably over the course of the following years and reached a value of USD 15.91 billion in 2021. Additionally, the growth of the textile sector in the region may be beneficial to the advancement of the market.

In North America, it is anticipated that the textile sector in the United States, which is expanding at a rapid rate, will drive the use of dyes and pigments. In addition, the expanding use of titanium dioxide as a pigment in manufacturing is anticipated to contribute positively to the expansion of the sector.

It is anticipated that the growing product consumption in the leather industry in Europe will enhance the usage of dyes and pigments. In addition, the expanding demand for it in industries including as clothing, furniture, and footwear, as well as the automotive sector, is anticipated to drive the expansion of the market.

Segmental Analysis

• Reactive and Inorganic Segments to Gain Impetus Due to Rising Demand from Textile Industry

Based on type, the market is segmented into dyes and pigments.

The dyes market is subdivided into reactive, dispersion, vat, acid, and other segments. In terms of demand, the reactive subsegment of the dyes market held the largest share. Reactive dyes are available in a variety of hues and are in high demand as colorants for wool and nylon. The utilization of reactive dyes is driven by the expansion of the textile industry and a customer trend toward eco-friendly textile solutions. In contrast, the vat subsegment is anticipated to increase at a significant rate over the projected period due to its widespread application in cellulose fibers. Vat dyes are organic compounds that are applied to the cotton fiber, leather, and viscose rayon to impart color. The rising demand for dispersed dyes can be ascribed to the extensive usage of nylon, cellulose triacetate, and acrylic fibers in the dyeing process.

The pigments section is subdivided into inorganic and organic pigments. The inorganic sector accounted for the largest portion of the pigment market and is anticipated to grow rapidly. Certain items can be colored with pigments by painting them or combining them with the drug's contents. Organic pigments are used as food and beverage coloring agents and in skin cosmetics. For many uses, inorganic pigments use chemical formulas to create the necessary material qualities. Inorganic pigments are comprised of substances generated from inorganic metal compounds and salts, such as metallic oxides, chromates, and sulfates. Industrial coatings, such as automobile refinish, house paints, printing inks, and plastics, are the most common applications for inorganic pigments.

• Textiles segment to Account for a Major Share Due to its Wide Usage in Dye Industry

Based on end-use, the market is categorized into textiles, leather, paper, paints & coatings, plastics, printing inks, and others.

During the projection period, the textiles category held the largest share of the dyes market. During the projected period, the leather market sector is anticipated to grow rapidly. Dyes are compounds that, when applied to a substrate, impart color by a process that momentarily modifies the crystal structure of the colored substances. These chemicals are widely employed in the textile sector due to their high dyeing capacity. Due to the inefficiency of the dyeing process, the textile industry loses up to two hundred thousand tonnes of these hues each year throughout the dying and finishing processes. Dyeing leather necessitates the use of active and acidic dyes in alkaline settings, most frequently with mordant. Typically, these are selected from textile dyes. The leather used in apparel production is dyed uniformly so that the surface color matches that of the cut region.

• Printing Segment to Dominated the Pigments Market Due to its Wide Application Usage in Packaging Industry

In terms of pigments, printing inks held the largest market share, and the paints & coatings industry is anticipated to grow quickly throughout the forecast period. Printing inks will continue to be the largest subsegment for pigments, led by double-digit increases for metallic pigments used for packaging and graphic advertisements, as well as phosphorescent pigments used for anti-counterfeiting, counterfeiting, and other protection applications. Pigments are particles that are added to paint and coating formulas in order to provide colour. In wet or dry films, dyes and pigments are frequently employed to impart the majority of a desired physical and chemical property.

Recent Developments

In January 2022, the sale of Clariant's Pigments business to a partnership comprised of Heubach Group ("Heubach") and SK Capital Partners ("SK Capital") was successful. Despite this, the corporation continues to own an interest in the newly created Group equal to twenty percent.

In June 2021, In continuing with the statement made in August 2019, DIC Corporation has successfully completed the acquisition of BASF's global pigments business, which is referred to as BASF Colors & Effects (BCE)..

In July 2021, the names of these revolutionary new color travel pigments are Reflecks MD Midnight Sapphire and Reflecks MD Midnight Cherry. They were introduced by Sun Chemical.