Dye and pigment market will reach 46.4 billion US dollars in 2025
With the rising demand for dyes and pigments, the scale of the industry has also exploded. According to a report by grand view research, the global market size of dyes and pigments was $30.42 billion in 2016, and is expected to reach $46.4 billion by 2025, with a compound annual growth rate of 4.9%. Due to the demand of printing ink application field, the use of dyes and pigments will increase significantly.
The growing demand for dyes and pigments in applications such as textiles, construction and plastics in the Asia Pacific region will drive the development of the market. Consumer spending growth, industrialization and rapid economic growth will further drive the development of the entire region.
The rapid growth of digital printing market is expected to provide a positive space for the printing ink industry, thus promoting economic growth. Increasing food and beverage consumption is expected to further drive product demand.
Reactive dyes dominated in 2016, accounting for 54.4% of total revenue. They consist of highly pigmented organic materials, which are mainly used in textiles and leather. Their high resistance to fading and bright color range make them particularly suitable for coloring cotton and rayon. It is expected that consumption in the Asia Pacific region, central and South America will continue to increase. The average annual compound growth rate of Asia Pacific market is expected to reach 5.6% from 2017 to 2025. Due to strict regulation in Europe, the industry has shifted its demand to Asia Pacific countries, such as India and China. It is expected that the construction industry in the whole Asia Pacific region will provide positive development prospects for pigment and dye product demand in the forecast period. In April 2017, BASF and Landa laboratories signed a cooperation agreement to help the company use the nano pigment technology of Landa laboratory to develop new pigments and use them to serve the automotive industry; in May 2017, Clariant and Huntsman signed a merger agreement, consolidating the company’s position in the pigment industry.
Reactive dyes and disperse dyes will continue to grow in the next few years. Their application fields involve various technologies and industrial products. In addition to the traditional application of dyed textiles, they will also be extended to new application fields such as laser dyes, organic LED (OLED) and liquid crystal display (LCD).
Compared with organic pigments, inorganic pigments have a higher market share. The properties of inorganic pigments, such as good wettability, darker color and pure color, are expected to further promote its market.
It is estimated that the compound annual growth rate of the market value of organic pigments will be 5.8% from 2017 to 2025. The strict laws and regulations affecting the further development of inorganic pigment industry will provide positive space for the demand of organic pigment substitution.