Dyestuff Market to Grow at CAGR of 7.8% during 2014-2020 due to Rising Demand from Asia Pacific

Transparency Market Research has released a new research report on the global dyestuff (black color) market. The report, titled “Dyestuff (Black Color) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, forecasts the growth of the overall market at a CAGR of 7.8% during the period between 2014 and 2020. The global dyestuff (black color) market was worth US$120.8 million in 2013 and with the healthy growth prospects, the overall market is expected to reach US$204.3 million by 2020. The report attributes the increasing demand from the global dyestuff (black color) market to the increasing demand for technical textiles. Growth in the apparel market is also expected to fuel demand for dyestuff (black color). However, the market is expected to be restrained by volatile crude oil prices. Also, stringent environmental regulations regarding the production of dyestuff will hamper the growth of the market. However, this has evolved into an opportunity, as the global dyestuff (black color) market is shifting focus towards manufacturing natural dyes. The growing popularity of natural dyes will propel market growth during the period between 2014 and 2020.

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The report categorizes the global dyestuff (black color) market on the basis of types of fibers such as monofilament fibers, staple fibers, and others including multifilament fibers and tow. The staple fiber segment generated the highest revenue in 2013 and accounted for more than 48% of total revenue generated in the market. It was the largest segment of the global dyestuff (black color) market for nylon fibers. Nylon staple fibers blend easily with other types of fibers available in the market, which will lead to the growth of this segment. During the forecast period, the segment is expected to grow at a CAGR of 8%.

The report segments the global dyestuff (black color) market depending upon the end users. Apparel, home textiles, and others including automotive, protective clothing, and agriculture are the major end-use segments. Apparel was the leading segment of the market and accounted for more than 45% of total market revenue in 2013. As nylon fibers are widely used in manufacturing clothing of various kinds, the apparel segment is expected to grow at a CAGR of 7.9% during the period between 2014 and 2020. Segments such as automotive, protective clothing, and agriculture are expected to grow rapidly in the next five years.

Geographically, the global dyestuff (black color) market has been divided into Europe, North America, Asia Pacific, and Rest of the World. As the demand for technical textiles is high in Asia Pacific, the region accounted for close to 60% of the overall revenue generated in the market in 2013. With increased demand, the region will grow further during the forecast period, especially driven by the markets in countries such as India, Korea, Japan, and China.

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The report profiles some of the key players in the global dyestuff (black color) market, such as DuPont, Huntsman Corporation, Arkema SA, Clariant AG, Rockwood Pigments Inc., Kiri Industries Ltd., BASF SE, and Kemira.

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