PUBLISHER: The Business Research Company | PRODUCT CODE: 1429663
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429663
Synthetic dye is a chemical substance crafted to impart vibrant and enduring colors to various products, including soaps, shampoos, and mouthwashes. In contrast, synthetic pigment is a carbon-based molecule created from petroleum compounds, acids, and other chemicals. This category encompasses lakes and toners, excluding electrostatic and photographic pigments.
The primary classifications within synthetic dye and pigment comprise synthetic dyes and synthetic pigments. Synthetic dyes, organic in nature, originate from coal-tar derivatives but are synthesized from benzene and its derivatives. The spectrum of dye types encompasses acid dye, reactive dye, dispersed dye, basic dye, vat dye, and other variations. Pigment types span both organic and inorganic categories. Applications of synthetic dye and pigment extend across textiles, food and beverages, paints and coatings, cosmetics and personal care, and various other sectors.
The synthetic dye and pigment market research report is one of a series of new reports from The Business Research Company that provides synthetic dye and pigment market statistics, including synthetic dye and pigment industry global market size, regional shares, competitors with a synthetic dye and pigment market share, detailed synthetic dye and pigment market segments, market trends and opportunities, and any further data you may need to thrive in the synthetic dye and pigment industry. This synthetic dye and pigment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The synthetic dye and pigment market size has grown rapidly in recent years. It will grow from $67.11 billion in 2023 to $73.91 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The historical growth in the synthetic dye and pigment sector can be attributed to the expansion of emerging markets, governmental initiatives, decreased interest rates, global population growth, and the availability of a diverse range of synthetic dyes.
The synthetic dye and pigment market size is expected to see strong growth in the next few years. It will grow to $105.18 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The anticipated growth in the synthetic dye and pigment sector can be attributed to an increasing demand for high-performance pigments, a surge in demand from various end-user industries, and a rising need within the packaging sector. Major trends in the forecast period include significant investments in the production of a wide range of high wet-fast disperse dyes, the adoption of IoT technology and big data analytics to optimize manufacturing processes and reduce production costs, a shift in manufacturing capacities from the western regions to low-cost countries for cost savings, and substantial investments in research and development activities and technological innovation aimed at creating products with enhanced physical and chemical properties.
The growth of the synthetic dyes and pigments market is anticipated to be propelled by the rapidly expanding packaging industry, particularly in emerging economies. This surge is attributed to heightened demand in various sectors such as toiletries, food and beverages, and healthcare. The market is poised for further growth with the introduction of high-quality digital printing applications for flexible packaging and labeling. The increasing preference for digital printing, driven by the need for superior print quality, is expected to boost the demand for packaging printing, thereby influencing the synthetic dyes and pigments market.
The synthetic dye and pigment market are expected to experience growth due to the rising textile industry. The textile industry encompasses the production, processing, and distribution of fibers, fabrics, and textiles used in the manufacturing of clothing, home textiles, and various industrial and consumer goods. Synthetic dyes and pigments play a crucial role in enhancing the textile industry by offering a diverse range of vibrant and long-lasting color options for fabrics. This enables manufacturers to meet consumer demand for diverse and attractive clothing and textiles, while ensuring color consistency and durability in the final products. For instance, in 2022, the National Council of Textile Organizations (NCTO) reported that shipments of man-made fiber, textiles, and garments from the United States were estimated at $65.8 billion, up from $64.04 billion in 2021. Therefore, the growing textile industry is a significant driver of the synthetic dye and pigment market's expansion.
Numerous textile companies are embracing the use of eco-friendly dyes in their textile and fabric production processes. These companies are opting for dyes that are not environmentally harmful, as traditional dyes are known to cause significant damage to the environment and can lead to skin allergies and respiratory diseases. The positive environmental attributes and lower toxicity of eco-friendly organic dyes are driving the shift toward their adoption, despite their higher cost compared to inorganic dyes. Leading companies in the production of eco-friendly dyes include DyStar, Huntsman, and Archroma.
Key players in the synthetic dye and pigment market are actively engaged in the development of sustainable products, exemplified by innovations such as Xennia Pearl pigment ink. This specialty ink is of high quality and is designed to impart lustrous and pearlescent effects in various printing applications. For instance, in October 2021, Sun Chemical, a chemical company based in the United States, introduced Xennia Pearl pigment inks specifically designed for high-speed industrial applications as part of Innovate 2021 Textile Innovation Week. The ink range, catering to both mid-viscosity and high-viscosity printheads, has been meticulously developed to meet market demands and address specific customer needs, including high fastness, compatibility with various substrates, consistent color quality, and outstanding print performance.
Major companies operating in the synthetic dye and pigment market report are BASF SE, The Chemours Company, Tronox Holdings PLC, Venator Materials PLC, Kronos Worldwide, Inc., Lanxess AG, Merck Group, Altana AG, Archroma Management LLC, DIC Corporation, SETAS, Sudarshan Chemical Industries Ltd., Jet-Mate Canada Inc., K. Sakai & Co. Ltd., Synthesia, Samixcolor S.P.A., Flint Group, PJSC Pigment, Atul Ltd., Cappelle, Taoka Chemical Co. Ltd., Toyo Ink SC Holdings Co., Kiri Industries Ltd., Chromatic India Ltd., Sun Chemicals, John Hogg & Co Ltd., Sciencedye, Ltd., Cathay Industries, Global Colors Z.A.O., Hangzhou Tiankun Chem Co., Meghmani Organics Ltd., Authentix, Qingdao Haiwan Specialty Chemicals Co., Asahi Songwon Colors Ltd., Union Colours, Yaroslavsky Pigment, Dominion Colour Corporation, Hangzhou Chungyo Chemicals, Sensient Technologies, Fitmor, Huntsman, Organic Dyes and Pigments LLC, Clariant International, NISHINO KINRYO CORPORATION, ECKART GmbH, Orion Colorchem Industries, Dainichiseika Color & Chemicals Mfg. Co., NOVACT Corporation, Mifal S.r.l., Abbey Color, Novyi Dom LLC, Heubach GmbH, Hikal Ltd., Arkema, National Industrialization Co.
Asia-Pacific was the largest region in the synthetic dye and pigment market in 2023. Western Europe was the second-largest region in the synthetic dye and pigment market. The regions covered in the synthetic dye and pigment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the synthetic dye and pigment market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The synthetic dye and pigment market consists of the sales of alizarin, azo-pigments, phthalocyanine, metal compounds, azoic dyes, chrome dyes, and direct dyes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Synthetic Dye And Pigment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on synthetic dye and pigment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for synthetic dye and pigment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The synthetic dye and pigment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.