(MENAFN- America News Hour) In a recently published report, Global Dyes and Pigments Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Dyes and Pigments Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Dyes & Pigments Market is valued approximately USD 35.3 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2019-2026. A dye is a type of substance that is used to spread or relay color to paper, leather, textiles, beverages, rubber and other materials in such a manner that the coloring is not changed by rinsing, heat, light, or any other factors to which the substance is likely to be exhibited. Dyes are distinct from pigments since pigments are precise particles scattered in a liquid like ink or paint or are blended with other substances. Most dyes are organic compounds while pigments may be inorganic or organic compounds. Dyes and pigments are widely used in the automotive and textile industries. For instance, textile industry use dyes for producing textiles and fabrics. Growing automobile and textile industries is increasing the demand for dyes and pigments. Increasing demand from end use industries coupled with surging per capita consumption of pigments and dyes are key driving forces of the market growth. For instance, as per India Brand Equity Foundation, India Textile exports is anticipated to reach $82 billion by 2021 from $31 billion in 2019. Further, as per India Brand Equity Foundation, Textile and Apparel Industry in India is expected to reach $223 billion in 2021 as compared to $108 billion in 2015. Similarly, as per Statista, China is the largest textile producing and exporting country across the globe. As per the source, in 2018, China Textile export valued about $119 billion that account to 37.6% of the global textile exports. Apart from this, technological advancements in dyes and pigments is anticipated to create significant growth opportunity in the market over the forecast period. However, volatility in raw material prices impedes the growth of the market over the forecast period of 2019-2026.
The regional analysis of global Dyes & Pigments market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising number of construction activities and demand for dyes and pigments from end sue industries. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rising infrastructure activities, disposable income, increasing populations and surging textile industry would create lucrative growth prospects for the Dyes & Pigments market across Asia-Pacific region.
Major market player included in this report are:
BASF SE
DIC Corporation
Clariant AG
Sudarshan Chemical Industries Limited
Huntsman Coporation
Atul Ltd.
Cabot Corp.
E.I. Dupont De Nemours & Co.
Kiri Industries Ltd.
Kronos Worldwide, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Dyes
Pigments
By Application:
Textile
Paints & coatings
Plastics
Leather
Paper
Construction
Printing ink
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Dyes & Pigments Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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