Colorants Market Expected to Reach $64 Billion by 2023

Global Colorants Market was valued at $41 billion in 2016, and is projected to reach $64 billion by 2023, registering a CAGR of 6.5% from 2017 to 2023. Colors are added to products to enhance their appeal. Pigment and dyes are the most common colorants added to food items, clothes, paper, and beverages, in liquid, liquid gel, gel paste, and powder form. Dyes can be natural or synthetic. Natural dyes are available from plants, animals, and minerals.

Increased demand from end-use industry such as plastic, paints & coatings, automotive, and packaging drive the market. However, ban on trade of artificial colorants hampers the market growth. Oversupply of dyes, leading to its decreased prices also restraints the market. Technological advancement is seen as a major growth opportunity for colorants manufacturers.
The global colorant market is segmented based on type, end-use industry, and geography. Based on type, it is classified into dyes and pigments. Based on end-use industry, it is divided into packaging, building & construction, automotive, textiles, paper & printing, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Asia-Pacific is expected to witness the highest growth rate in the global colorant market, owing to high demand from emerging economies such as India, China, South Korea, and others. In addition, increase in consumer expenditures in these countries for packaged food & beverages is expected to increase the demand for colorant market.
Top investment pockets

The colorant market in India is anticipated to be the most lucrative market for manufacturers soon, owing to the increased demand from end-use industry such as automotive, building & construction, packaging, and textiles. Latin America is also projected to offer growth opportunity for the manufacturers due to the rise in the cosmetics industry.

Segment Review

In 2016, the pigments segment accounted for the highest share in 2016, registering a CAGR 7.2% from 2017 to 2023. The pigments segment is driven by its increased consumption from the clothes, paints, prints, plastics, photographs, and ceramics industry globally. The dyes segment is projected to witness the decline in its prices owing to its oversupply worldwide.

LAMEA Review
The colorants market in Latin America is estimated to be the largest in the LAMEA region and is estimated to attract manufacturers during the forecast period. Growth in cosmetics and packaging industry drives the market in the region.

The key players profiled in the report include BASF SE, Sun Chemical Corporation, Clariant AG, Polyone Corporation, E. I. Du Pont De Nemours and Company, Lanxess, Huntsman Corporation, Dystar, DIC Corporation, and Cabot Corporation.

The other key players in the value chain (not profiled in this report) include Sudarshan Chemical Industries Limited, The DOW Chemical Company, The Chemours Company, Flint Group, and Archroma.

Key Benefits

• The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global colorant market to elucidate the prevailing opportunities and tap the investment pockets.
• It offers qualitative trends and quantitative analysis of the global market from 2016 to 2023 to assist stakeholders to understand the market scenario.
• In-depth analysis of the key segments demonstrates the market potential of the colorant industry.
• Competitive intelligence of the industry highlights the business practices followed by key players across geographies and prevailing market opportunities.
• Key market players and their strategies & developments are profiled to understand the competitive outlook of the market.

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