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Textile Dyes Market 2024 Analysis By Size, Share, Growth, Trends Up To 2033
Textile Dyes Global Market Report 2024
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According to The Business Research Company's, The textile dyes market size has grown strongly in recent years. It will grow from $9.69 billion in 2023 to $10.58 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to industrialization of textile production, consumer demand for color variety, chemical innovations, textile manufacturing growth, fashion and design .
The textile dyes market size is expected to see strong growth in the next few years. It will grow to $14.84 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to sustainability and environmental regulation, innovation in dyeing technologies, rise in customization and personalization, health and safety concerns, government initiatives and support.. Major trends in the forecast period include digital textile printing, fast fashion and short runs, recycled dye technologies, smart textiles, color trends and sustainability,.
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Market Drivers and Trends:
The increased demand in the garment industry is expected to propel the textile dye market. The garment industry has a significant raw material base that includes all types of natural and synthetic fiber dyes, which has helped it achieve global prominence. These apparel industries are consumer-based, contributing to the economy by providing trade along the clothing and garment production and value chain. Such growing global business and the use of natural and synthetic fiber dyes in various garments applications lead to the increasing demand for textile dyes. For instance, according to a report published in February 2022 by Obrelo, a Russia-based drop shipping company, the fashion industry grew by 18.4 % in 2021, with sales figures for 2022 forecast at $473.42 billion. Therefore, the increasing demand in the garment and fashion industry will drive the textile dyes market.
New technology is a key trend gaining popularity in the textile dyes market. The textile dyes sector is constantly innovating and adopting new advanced dying technologies to become a more sustainable industry. The use of nanotechnology to create more scientific clothing, such as fire-repellent, self-cleaning, and water-repellent clothes, has resulted in significant advancement in the textile industry. These advancements in textile manufacturing technology will enable textile material and product dying markets to use more sustainable and advanced dying technology. Major companies operating in the textile dyes sector are focused on new technologies to sustain their position in the market. For instance, in September 2021, Cosmo Speciality Chemicals, an India-based specialty chemicals company, launched Superwash POL, a dye transfer inhibitor to prevent textiles from bleeding and staining. The specially formulated agents provide the amphiphilic character with polar groups and hydrophilic properties with un-polar groups, which prevent textiles from dye bleeding and redepositing on different colored textiles and white.
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Major Key Players of the Market:
Archroma, Atul Ltd., Colorant Limited, Vipul Organics Ltd, Zhejiang Runtu Co Ltd., Kiri Industries ltd, DEV COLOURS, DyStar Singapore Pte Ltd, Huntsman International LLC, Akik Dye Chem, Blendwell SA, Jiangsu World Chemical Co Ltd, KeyColour, Mahickra Chemicals Limited, Organic Dyes and Pigments, Royce Global S A, Robama, Sun Chemical, Agrofert SA, Chromatech Incorporated, Colourtex, DuPont, Hollindia International BV, Italia Incorporation, Jay Chemicals Industries Ltd, Lanxess AG, Yabang Dyestuff
Textile Dyes Market 2024 Key Insights:
• The textile dyes market size is expected to see strong growth in the next few years. It will grow to $14.84 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Rising Demand From The Fashion/Apparel Industry
• Focus On Lauch Of New Technological Solutions
• Asia-Pacific was the largest region in the textile dyes market in 2023
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