Global Textile Dyes Market Size Is Estimated To Reach USD 19.56 Billion By 2031, Growing At A CAGR Of 5.8%: Straits Research

(MENAFN- GlobeNewsWire - Nasdaq) New York, United States, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Dyes are compounds that color fabrics, particularly denim products, polyester fiber, cotton, nylon, silk, wool, fur, and carpet. Dyes are also used to color food. During the dying process that takes place in textile production plants, a variety of chemicals and dyes are utilized. Numerous factors are considered when choosing dyes, such as the cost of the dyeing process, lightfastness, reaction to rubbing, and reaction to washing.

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Increasing Demand from Asia-Pacific Region Drives the Global Market

According to Straits Research,“The global textile dyes market size was valued at USD 11.7 billion in 2022. It is expected to reach USD 19.56 billion by 2031, growing at a CAGR of 5.8% during the forecast period (2023–2031).” Asia-Pacific is expected to be the most important market in the future, particularly in India and China, where demand is expected to be higher because these are the world's fastest-growing economies. They have experienced consistent economic growth over the last decade and are now one of the world's economic powerhouses. Asia-Pacific countries like China and India have the world's highest population densities. Textiles are in high demand due to the world's growing population.

Furthermore, rising consumer demand for textiles for various applications such as apparel, home textiles, and industrial/technical textiles has contributed to the market's expansion. Similarly, the lower manufacturing cost due to the raw material availability and labor at lower rates drives the growth of textile dyes.

Minimizing Water Wastage and Organic Dyes Creates Tremendous Opportunities

The textile dyeing process wastes a lot of water and is a limitation because water is scarce. The development of new water-saving processes is expected to provide a significant opportunity for market expansion. Similarly, advancements in environmentally friendly organic dyes present a promising new market for the textile dyes industry.

Regional Analysis

Asia-Pacific is the most significant global textile dye market shareholder and is estimated to exhibit a CAGR of 6.4% over the forecast period. China, Japan, and India are the major Asian economies contributing to the region's adoption of technical textiles. China is one of the leading automotive manufacturers, so technical textiles are used more frequently. Favorable investment policies and government initiatives to promote the growth of technical textiles in India and China drive demand for textile dyes . Growth in these regions is also driven by the development of manufacturing sectors, increased population on the continent, and improved economic conditions.

Additionally, growth in public infrastructure development, rise in the healthcare sector, and rapid urbanization are key factors driving the technical textile market. For example, the Indian government launched a scheme in 2014 to promote the use of geotextiles in the North East, with a five-year duration (2014-2019). The scheme aims to promote and use geotextiles in infrastructure development by providing technical and financial assistance. This investment is expected to increase demand for textile dyes because direct or substantive dyes, which have a strong affinity for cellulose fibers, are used on the material and textile dyes, such as acid and basic dyes, are used primarily for dying material.

Key Highlights

• Based on the dye type, the global textile dyes market is classified into direct, reactive, Vat, basic, acid, dispersed, and others. The dispersed segment dominates the global market and is expected to exhibit a CAGR of 5.6% over the forecast period.
• Based on fiber type, the global textile dyes market is segmented into wool, polyester, acrylic, and others. The polyester segment owns the highest market share and is expected to exhibit a CAGR of 5.9% during the forecast period.
• Asia-Pacific is the most significant global textile dye market shareholder and is estimated to exhibit a CAGR of 6.4% over the forecast period.

Competitive Players

The key players in the global textile dyes market are Agrofert S.A., Archroma, Chromatech Incorporated, Colourtex, DuPont., Hollindia International B.V., Huntsman Corporation, Jay Chemicals Industries Ltd., Kiri Industries Ltd. (Kiri), and Organic Dyes and Pigments., and others .

Market News

• In March 2023, Huntsman Corporation announced the acquisition of Clariant's dyestuffs business for USD 1.1 billion. This acquisition will strengthen Huntsman's position in the textile dye market and broaden the company's product offering.
• In June 2023, German-Japanese textile startup Aizome announced its latest development-Wastecare-a new skincare product made from textile dyeing waste. This step forward signifies a major stride in pursuing a circular economy and environment-friendly practices in the textile and fashion industries.

Global Textile Dyes Market: Segmentation

By Dye type

• Direct
• Reactive
• Vat
• Basic
• Acid
• Disperse

By Fiber type

• Wool
• Polyester
• Acrylic
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA

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About Straits Research Pvt. Ltd.

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Tags Textile Dyes Market Size textile production plants textile mills textile printing textile industry textile dyes manufacturers

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