Dyes and Pigments Market: Current Analysis and Forecast (2021-2027)

Dyes and pigments are the colorants that are used to impart colour to a material. Both are powerful colorants and are used in textile, pharmaceutical, food, cosmetics, plastics, paint, ink, photographic, and paper industries. Dyes are finer than pigments and unstable under UV rays, while pigments show great stability even under UV rays. Since dyes get absorbed onto the applied surface, the better application is observed in fields like paints, coatings, surface protection, and corrosion prevention. Due to the broad-spectrum usage, the dyes and pigments market is expected to showcase significant growth with a CAGR of around 5% over the forecast period (2021-2027). Furthermore, during the pandemic, the packaging industry started booming, which led to a substantial increase in the printing ink industry, required for packages. This has positively influenced the dyes and pigment market globally.
However, according to a World Bank report, lack of clean water limits economic growth by one-third. Thus, factors like water pollution, high metal content in pigments, and excess water usage during the production of dyes and pigments pose serious environmental threats and may hamper the market growth in certain regions.
- Based on Type, the market is separate for both dyes and pigments. Dyes are classified into reactive dyes, disperse dyes, VAT dyes, direct dyes, and acid dyes. While pigments are allocated into inorganic and organic. Reactive dyes grabbed a considerable market share, due to their inherent properties like anti-fading and availability in a range of bright shades. In pigments, Inorganic ones are preferred due to better wettability, darker colors, and leanness.
- Based on Application, the market is segmented into textile, paints & coatings, plastics, leather, paper, printing ink, and others. The textile segment took a significant market share in 2020. However, the printing ink segment is anticipated to grow with a lucrative CAGR during the projected timeframe owing to the rapidly growing digital printing sector.
- For a better understanding of the market adoption of the dyes and pigments industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, France, UK, Italy, and Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific); and Rest of World. Asia-Pacific holds the biggest market share and is expected to witness the highest CAGR during the forecast period on account of the rapidly growing middle-class population, which fuels the textile and plastic demand. The pigments and dyes market will majorly be concentrated in the Asia Pacific region, mainly due to lenient environmental laws, cheap labor costs, easy availability of low-cost raw materials, and higher market demands.
- Some of the major players operating in the market include BASF SE, DIC Corporation, Clariant, Sudarshan Chemical Industries Ltd., Huntsman International LLC., Atul Ltd., Cabot Corporation, DuPont, Kiri Industries, KRONOS Worldwide. These major corporations are heavily investing in research & development divisions for superior-quality dyes and pigments.