Colorants Market worth 65.65 billion USD by 2022 | Key players operating in the market include Clariant AG, BASF SE, DIC Corp, Huntsman Corp, E. I. du Pont de Nemours

According to recent market research "Colorants Market by Type (Dyes, Pigments, Masterbatches, Color Concentrates), End-Use Industry (Packaging, Building & Construction, Automotive, Textiles, Paper & Printing), Region (North America, Asia-Pacific, Europe) - Global Forecast to 2022", The colorants market was valued at USD 47.45 Billion in 2016 and is projected to reach USD 65.65 Billion by 2022, at a CAGR of 5.0% from 2017 to 2022.

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The increasing use of colorants for coloring plastics is driving the colorants market. Moreover, growing importance of aesthetics in the packaging industry is another driver fueling the growth of the colorants market.

The demand for pigments is very high in the paints & coatings application of the automotive and building & construction end-use industries. The use of pigments is also increasing in printing textiles owing to the trends in the fashion industry. Pigments are also used as raw materials to produce masterbatches and color concentrates. The consumption of pigments in the packaging application is also increasing for coloring packaging materials such as metal, paper, plastics, and fabric.

The packaging end-use industry is leading the colorants market, which can be attributed to the increased use of colorants for coloring plastics used for packaging various types of products. Use of colorants for packaging enhances the product appeal of goods. A high degree of aesthetic appeal of products not only helps in product differentiation but also influences preferences of customers. Pigments, masterbatches, and color concentrates are widely used in plastics.

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The colorants market is estimated at USD 47.45 Billion in 2016 and is projected to reach USD 65.65 Billion by 2022, at a CAGR of 5.0% from 2017 to 2022. The increasing use of colorants to improve the aesthetic appearance of packaging, increase in the consumption of colorants in emerging economies, growing demand for plastics, and rise in demand in paints & coatings across various industries is expected to drive the market for colorants during the forecast period.

The report analyzes the key growth strategies adopted by the leading market players between 2015 and 2017. Clariant AG (Switzerland), BASF SE (Germany), DIC Corporation (Japan), Huntsman Corporation (U.S.), E. I. du Pont de Nemours & Company (U.S.), Cabot Corporation (U.S.), LANXESS AG (Germany), PolyOne Corporation (U.S.) and Sun Chemical Corporation (U.S.) are the key players operating in the colorants market. These companies adopted new product launches, mergers & acquisitions, investments & expansions and agreements & partnerships strategies to strengthen their positions in the colorants market.

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Clariant AG (Switzerland) is one of the key players operating in the colorants market. The company operates in the color, additive, and masterbatch businesses. It has adopted the new product launches, mergers & acquisitions, and agreements & partnerships strategies to enhance its position in the colorants market. For instance, in April 2017, Clariant (Switzerland) introduced Hostatint A 100-ST, a pigment preparation of transparent preparations and Hostatin UV range for radiation cured coating systems. Hostatint A 100-ST imparts metallic and mineral effects and shades for surface shades and contour applications.

BASF SE (Germany) is the market leader in the colorants market and manufactures different types of colorants such as dyes, pigments, and masterbatches. The dispersions & pigments unit accounted for 30% of the sales of this business segment. The company in the last two years has been engaged in agreements & partnerships, new product launches, investments & expansions strategies to provide solutions to coatings, plastics, printing, cosmetics, and agriculture industries. The company is constantly innovating to satisfy the needs of its growing customers. For instance, in April 2017, BASF SE and Landa Labs entered into a partnership, and as per the agreement, BASF decided to adopt Landa’s revolutionary nano-pigment technology for the manufacture of dispersible ultra-high transparency pigments under the Colors & Effects brand.

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