VAT Dyes Global Market Report 2024

“VAT Dyes 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 vat dyes 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.

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Where is the largest and fastest growing market for vat dyes? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The vat dyes 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.

Scope

Markets Covered:

• 1) By Product Type: Carbazole Derivatives; Indigo Derivatives; Anthraquinone Derivatives; Thio-indigo Dyes; Others Product Types
• 2) By Methods: Dip Dyeing; Pad Dyeing
• 3) By Application: Wool; Cotton; Fiber; Viscose Rayon; Leather; Others Applications
• Companies Mentioned: Clariant International Ltd.; CPS Color Group; Flint Group Pvt. Ltd; Jagson Colorchem Ltd.; Kiri Dyes and Chemicals Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Vat dyes, often referred to as Oil colors, are natural coloring agents utilized for dyeing cloth through methods such as immersion, spraying, or pad printing. They find primary application in printing on materials such as leather, wood, and other surfaces.

The major types of vat dyes include carbazole derivatives, indigo derivatives, anthraquinone derivatives, thio-indigo dyes, and other variations. Carbazole derivatives represent an organic compound with an aromatic heterocyclic structure. These dyes are commonly applied through methods such as dip dyeing and pad dyeing, finding diverse applications in materials such as wool, cotton, various fibers, viscose rayon, leather, among others.

The VAT dyes market research report is one of a series of new reports from The Business Research Company that provides VAT dyes market statistics, including VAT dyes industry global market size, regional shares, competitors with a VAT dyes market share, detailed VAT dyes market segments, market trends, and opportunities, and any further data you may need to thrive in the VAT dyes industry. This VAT dyes 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 vat dyes market size has grown rapidly in recent years. It will grow from $1.76 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth observed in the historical period can be attributed to several contributing factors. These include the expansion of the textile industry, an increased demand for sustainable dyeing practices leading to the growth of vat dyes, steady and consistent growth in the apparel industry, adherence to regulatory compliance standards governing dyeing processes, and the effects of industrialization and urbanization driving the need for these dyeing solutions within manufacturing hubs and urban centers. These factors collectively contributed to the growth and adoption of vat dyes in various industries.

The vat dyes market size is expected to see rapid growth in the next few years. It will grow to $2.89 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The anticipated growth in the forecast period is expected to be driven by several factors. These include a heightened focus on sustainable practices within the dyeing industry, increased awareness regarding the properties and impact of dyes on the environment, regulatory emphasis on the use of eco-friendly dyes, a notable shift towards the adoption of organic dyes, and the ongoing process of textile digitization influencing dyeing processes and practices. Key trends projected for the forecast period encompass a rising demand for eco-friendly products prompting the use of sustainable dyes, the implementation of educational initiatives and training programs fostering awareness and understanding of eco-friendly dyeing practices, an expansion in the home textile sector emphasizing the use of sustainable dyes, the development of high-performance dyes meeting eco-friendly criteria, and a surge in textile recycling efforts aimed at reducing environmental impact.

The vat dyes market is expected to experience substantial growth, driven by the increasing demand for textiles. Textiles, which encompass materials made from natural, synthetic, or a combination of fine threads or filaments, are a key application area for vat dyes. Vat dyes are favored in the textile industry for their excellent chlorine fastness, making them suitable for printing on cotton, cellulosic fibers, and other textile materials. This surge in textile demand directly contributes to an increased need for vat dyes. For example, a report from the Textile Industries Media Group LLC. in June 2022 highlighted the growth in the value of US textile exports from $25.3 billion in 2020 to $28.4 billion in 2021. The US experienced a 6.5 percent increase in textile and apparel exports to the western hemisphere in 2021, reflecting a rising trend in textile consumption. Therefore, the expanding demand for textiles serves as a significant driver for the growth of the vat dyes market.

The growth of the fashion industry is poised to further propel the vat dyes market. The fashion industry, which encompasses the design, manufacturing, distribution, and marketing of apparel, relies on vat dyes for providing vibrant and colorfast solutions for various textiles and garments. Vat dyes are particularly instrumental in coloring natural plant fibers such as cotton, viscose rayon, and leather-materials extensively utilized in the fashion sector. As reported by FashionUnited, the global apparel and footwear industry experienced an 18.1% growth at current prices in 2020-2021, reaching $1.71 billion in 2021. This growth underscores the significance of vat dyes in meeting the coloration needs of the fashion industry. The continuous expansion of the fashion sector is expected to drive sustained growth in the vat dyes market.

The anticipated rise in disposable income is expected to act as a driving force for the vat dyes market. Disposable income, which represents the funds available to individuals or households after deducting taxes and essential expenses, is crucial for discretionary spending and savings. Vat dyes, renowned for their versatility and extensive use in coloring textiles, stand to benefit from increased consumer spending on clothing and fabric products. The growth of the fashion and textile industries, coupled with heightened consumer demand for vibrant and long-lasting colors in apparel, contributes to the widespread adoption of VAT dyes. For example, in India, disposable personal income increased from 238,573,760 INR Million ($2,869,262.20 million) in 2021 to 272,995,370 INR Million ($3,283,241.61 million) in 2022. This significant rise in disposable income is expected to positively impact the vat dyes market, reflecting increased consumer purchasing power.

Product innovation emerges as a notable trend in the vat dyes market, with major companies actively developing innovative solutions to strengthen their market positions. In January 2022, Atul Ltd., an integrated chemical company based in India, introduced NOVATIC Classic Dark Green Pdr and NOVATIC Classic Dark Navy Pdr-customized vat dye products. These vat-dyed products exhibit excellent build-up, reproducibility, and overall fastness properties, offering superior tinctorial strength. The applications of these products are well-suited for furnishings, leisure wear, and institutional wear, catering to various textile clusters. The focus on product innovation underscores the industry's commitment to meeting evolving consumer preferences and demands, thereby contributing to the growth and competitiveness of the vat dyes market.

In June 2021, Sun Chemical, a US-based chemicals company and a member of the DIC group, successfully acquired BASF SE for an undisclosed amount. This strategic acquisition is aimed at broadening Sun Chemical's product portfolio across various sectors, including electronic displays, cosmetics, coatings, inks, plastics, and specialty applications. The acquisition underscores Sun Chemical's commitment to offering tailored solutions that meet the specific needs of its customers. BASF SE, the acquired company, is a Germany-based chemical company known for producing VAT dyes primarily for the textile industry. This move positions Sun Chemical to enhance its capabilities and offerings, reinforcing its position in the market and enabling it to provide a more comprehensive range of solutions to its customers in various industries.

Major companies operating in the vat dyes market report are Clariant International Ltd., CPS Color Group, Flint Group Pvt. Ltd, Jagson Colorchem Ltd., Kiri Dyes and Chemicals Ltd., Lanxess AG, Royce Global, DuPont de Nemours Inc., Eckart GmbH, Arkema S.A., Sinocolor Chemical, Sudarshan Chemical Industries Limited, Atul Ltd., Huntsman Corporation, Sumitomo Chemical Co. Ltd., BASF SE, DowDuPont, CHT USA, ChemUniverse Inc., First Source Worldwide LLC, Keycolour Inc., Standard Dyes Inc., Walrus Enterprises LLC, Passaic Color & Chemical Co., Dystar Singapore Pte Ltd., Everlight Chemical Industrial Corp., Kolorjet Chemicals Pvt Ltd., Krishna Industries, Rung International, Shree Laxmi Corporation .

Asia-Pacific was the largest region in the vat dyes market in 2023. The regions covered in the vat dyes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the vat dyes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The vat dyes market consists of sales of fiber-reactive dyes, direct dyes, and acid 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.