Dyes and Pigments Market: Global Industry to reach at USD 53 Billion by 2026

According to the Facts and Factors, Research Report, global Dyes and Pigments market in 2019 was approximately USD 38 Billion. The market is expected to grow at a CAGR of 5% and is anticipated to reach around USD 53 Billion by 2026.

Dyes and pigments add color to the material by reflecting the light of a specific wavelength. The hue of color depends on the amount of scattered and light reflected. The more light-reflecting material tends to be darker. Nevertheless, light scattering in the case of pigments often depends on the particle size and refractive index of the pigments and their binders. The market for dyes & pigments is driven primarily by increased demand from end-use industries.

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Dyes & pigments have a wide variety of uses from clothing production, paints & coatings, and printing inks to plastics. In these main industries, growth in the dyes & pigments market is driven in part by a turnaround and their growing need in these applications. The growing infrastructure, the paint & coatings industry is growing considerably. Due to the growing population and infrastructure projects, Asia-Pacific is expected to be a major paint & coatings sector. Thus, coloring & pigment companies will gain profit margin by offering different types of coloring to cater for the growth in the Asia-Pacific paint industry.

Based on segments dyes and pigments market is bifurcated such as dyes, pigments, and applications. Based on dyes, the market is categorized as reactive dyes, disperse dyes, vat dyes, direct dyes, acid dyes, and others. Reactive dyes are anticipated to lead the market in the forecast period. The reactive dye is estimated to hold more than 50% of the market share owing to its wide use for coloring the textiles. The demand is specifically generated from the regions like Central and South America, and the Asia Pacific. On the basis of the Pigments market is split as inorganic, and organic. The demand generated by the inorganic pigments is more than that of the organic pigments. Inorganic pigments deliver the leanness and darker color which is anticipated to boost the market growth. In terms of application, the market is categorized as textile, construction, leather, plastics, paper, and paints & coatings. Textile and construction are anticipated to hold the major share. The rapid growth of the construction market in the Asia Pacific is projected to augment the market.

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According to region market is bifurcated such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Predominant construction activities in Asia and lenient laws are anticipated to propel the market growth in the forecast period. The region holds more than 60% in 2019 in the global market. On the other hand, stringent regulations and focus on gaining more carbon credits North America and Europe are estimated to witness moderate growth in the forecasted period. Few European companies are focused on expanding their production capacity which is projected to increase the share of European regions across the globe. The moderate GDP of Latin America and Middle East is estimated to generate moderate demand for the dyes and pigments in the forthcoming time.

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The Dyes and Pigments Market is quite fragmented. The presence of big as well small players leads to intense rivalry and price war. The leading players of the market are BASF SE, Lanxess AG, Clariant AG, Kronos Worldwide Inc., DIC Corporation, Kiri Industries Ltd., Sudarshan Chemical Industries Limited, Cabot Corp, Huntsman Corporation; and Atul Ltd.

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