Pigments and Dyes Market Size, Share, Growth Report 2032

Pigments and Dyes Market: Overview

The global Pigments and Dyes Market accounted for USD 29.63 Billion in 2020 and is expected to reach USD 41.14 Billion by 2028, growing at a CAGR of 4.4% from 2021 to 2028.

Pigments and dyes are substances that transmit color to a material. The colorant is often used for both pigments and dyes (also known as dyestuffs). The key difference between pigments and dyes is particle size. Dyes are finer than pigments. Hence, pigments are commonly UV stable whereas dyes are not UV stable. Dyes also called colorants in which the coloring matter is melted from solid to liquid, are absorbed in the material in which they are used. Whereas, pigments consist of immensely fine particles suspended in the liquid form of ground coloring matter which forms a paint film that bonds as it is applied to the surface.

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COVID-19 Impact Analysis

The market was negatively impacted by COVID-19. Owing to the pandemic scenario, various countries went into lockdown, which led to supply chain disruptions and work stoppages. This negatively affected the demand of various industries like paints and coatings, textiles, and others. However, the conditions are expected to recover in 2020, thereby restoring the growth trajectory of the market studied during the forecast period.

Growth Factors

Growing demand from different end-user industries, like construction, paints & coatings, textiles, and plastics, is anticipated to propel the market growth. Key market players are actively venturing into improving their goods by employing advanced technologies for the effective and efficient elimination of precarious pollutants during the process of manufacturing. Manufacturers are expected to experience diverse costs of production owing to volatility in the prices of raw materials, such as benzene. A broad network of distribution in the market is accomplished through both online retailing and physical retail stores.

Availability of the items on online platforms has helped increase clients for the market players. The rapid increase in the construction industry globally has also been a major growth- factor for the market. The growing population combined with rapid industrialization has inspired governments to boost their spending on infrastructural development on construction. Thus, rising expenditure on construction across the world is anticipated to create extensive demand for the product in the forecast period.

Report Scope:

Product Analysis Preview

The reactive Dyes segment held a share of around 52% in 2020. These products have basic applications in textiles tinting and are made of immensely colored substances which are also organic. They have high protection against fading and they are also available in a variety of bright shades, which makes them appropriate for coloring rayon and cotton. Furthermore, during the process of dying, they can form a covalent bond with the fiber. It includes a linking group, parent dye, and an active group. These benefits enable them to obtain traits, which are better and favored in cellulose fibers over other dyes.

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Application Segment Analysis Preview

The printing Ink segment will grow at a CAGR of over 60% from 2021 to 2028. The rising digital printing sector is expected to propel the demand for dyes in the application of printing inks. Nations, such as China and India, are key producers of dyes, which in turn are expected to provide definite scope for the application of printing inks across the Asia Pacific region.

Regional Analysis Preview

Asia accounted for a share of over 49.31% in 2020. The market faces rigid regulations which restrict usage of the product as well as production in Europe and North America. Hence, the production units are being moved to the Asia Pacific region due to favorable conditions of manufacturing and forbearance in regulations. This is also backed by skilled and low-cost manpower and the easy availability of raw materials.

Pigments and Dyes Market: Key Players & Competitive Landscape

Some of the key players in the Pigments and Dyes Market are Clariant AG, BASF SE, Sudarshan Chemical Industries Ltd., DIC Corp., Huntsman Corp., Atul Ltd., Lanxess AG, Kronos Worldwide Inc., Kiri Industries Ltd., among others. 

The Global Pigments and Dyes Market is segmented as follows:

By Product

• Pigments
• Dyes

By Application

• Paints & Coatings
• Printing Inks
• Textiles
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa