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Reactive Dyes Market Report 2024 - Reactive Dyes Market Growth, Insights And Forecast
Reactive Dyes Market
According to The Business Research Company's, The reactive dyes market size has grown rapidly in recent years. It will grow from $2.62 billion in 2023 to $2.92 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to shift towards cellulosic fibers, widespread use in apparel and home textiles, regulatory compliance and eco-friendly properties, globalization of textile manufacturing, research and development in dye chemistry.
The reactive dyes market size is expected to see rapid growth in the next few years. It will grow to $4.3 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to expansion into technical textiles, increased focus on sustainable dyeing, biodegradability and eco-friendly formulations, demand in emerging markets, global economic . Major trends in the forecast period include digital printing technologies, innovation in dyeing technologies, focus on cold water dyeing processes, customization and specialty reactive dyes,expansion in apparel and fashion industry.
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Market Drivers and Trends:
Growing expansion in the textile sector is expected to propel the growth of the reactive dyes market going forward. The textile sector refers to the industries primarily concerned with the design or manufacture of clothing and the distribution and use of textiles. Reactive dyes are used in the textile industry to print color and design on cellulosic fibers such as cotton, linen, and other clothes. Thus the growth in the textile sector will drive reactive dyes market growth. For instance, in June 2020, Euratex, a Europe-based European Apparel and Textile Confederation estimate, the textile and garment industry in the EU-27 region was €147 billion in 2021, an 11% growth over 2020. Additionally, in January 2020, according to the China Chamber of Commerce for Import and Export of Textiles, a China-based local organization of businesses to develop local companies and businesses, China's apparel and textile exports reached US$291.22 billion, up 9.5% year over year, and contributed to a 1% rise in the nation's overall export of products. Therefore, the growing expansion in the textile sector is driving the market for reactive dyes.
Product innovation is a key trend gaining popularity in the reactive dyes market. Major companies operating in the reactive dyes market are focused on developing new technological solutions to strengthen their position. For instance, in November 2021, Huntsman International LLC, a Germany-based provider of high-quality dyes, chemicals, and digital inks to the textile industry, launched the third generation of its revolutionary 'AVITERA SE' polyreactive dye. It is uniquely designed with unique low-temperature and high-speed wash-off technology that slashes the water and energy required for production by up to 50% and increases mill output by up to 25% or more. The dye has high chlorine resistance and is tailor-made for stringent Japanese and US laundering requirements.
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Major Key Players of the Market:
Archroma Corporation; Kiri Industries Ltd.; Nippon Kayaku Co. Ltd.; Sumika Chemtex Co.Ltd.; Colourtex Industries Private Limited; Roop Dyes & Intermediates; Kevin Dyes And Chemical Pvt. Ltd.; Zhejiang Jinguang Chemical Industry Limited; The Kyung-In Synthetic Company; Bezema Colour Solutions; Everlight Chemical Industrial Corp.; Bodal Chemicals Ltd.; Eksoy Chemicals India Pvt. Ltd.; Sumitomo Chemical Co. Ltd.; Zhejiang Runtu Co. Ltd.; Hubei Chuyuan Group Co. Ltd.; Anoky Co. Ltd.; Vibfast Pigments Pvt. Ltd.; Dominion Colour Corporation; Neochem Industries; DCL Corporation; Trust Chem Co. Ltd.; Dainichiseika Color & Chemicals Mfg. Co. Ltd.; Changzhou Longyu Pigment Chemical Co. Ltd.; Pidilite Industries Ltd.; Jeco Group; Xinguang Group Co.Ltd.; Sanyo Color Works Ltd.; Sunlour Pigment Co. Ltd.; Flint Group; Cappelle Pigment
Reactive Dyes Market 2024 Key Insights:
• The reactive dyes market will grow to $4.3 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%.
• Textile Sector Expansion Fuels Growth In The Reactive Dyes Market
• Product Innovations Transforming The Reactive Dyes Market
• Asia-Pacific was the largest region in the reactive dyes market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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