DYESTUFF MARKET ANALYSIS

Dyestuff is a colored substance, which has affinity towards the substrate it is applied to in an aqueous solution. There are two types of dyes, namely natural and synthetic. Although natural dyestuff was largely used earlier, currently, synthetic dyestuff accounts for larger share in the dyestuff market. Various types of synthetic dyestuff include azo dyes, cyanine dyes, nitroso dyes, anthraquinone dyes, and others. Dyestuff is insoluble in nature and find applications in textiles, paints and coatings, food, leather, metals, and paper.

Market Dynamics

Increasing demand for dyestuff from various end-use industries such as textiles, leather, paper, construction, and paints and coatings is significantly driving growth of the global dyestuff market. Moreover, rising demand for apparels among consumers due to rising disposable income and per capita income is expected to increase demand for dyestuff from textile industry and in turn drive growth of the dyestuff market over the forecast period.

However, factors such as stringent environmental regulations for synthetic-based dye stuff is expected to restrain the dyestuff market growth over the forecast period.

Market Outlook

The global dyestuff market is expected to be valued at US$ 260 million by 2027, exhibiting a CAGR of 8.0 % between 2019 and 2027.

On the basis of region, the global dyestuff market is segmented into North America, Asia Pacific, Europe, Latin America, Middles East, and Africa. Asia Pacific holds dominant position in the global dyestuff market, owing to increasing demand for dyestuff from industries such as textile, leather, and paper in China, followed by India. Asia Pacific region is a major consumer of dyestuff due to growing textile industry in China, India, Taiwan, and South Korea. Europe is the second major consumer of dyestuff, owing to growth of textile industry in the region.

North America is the third largest market of dyestuff, owing to large consumption of dyestuff in textile, paper, and leather industry in the region. Latin America and Middle East also witnessed growth in global dyestuff market, as these regions have various applications such as textile dye, leather dye, paper dye, wood dye, and others.

Key Players

Some of the major players operating in the global dyestuff market include Clariant International Ltd., Lanxess AG, Orion Colorchem Industries, Seta? Color Center, Synthesia, a.s, Synthetic Corporation, Avocet Dye & Chemical Co. Ltd, Arkema SA, Huntsman Corporation, BASF SE, KRONOS Worldwide Inc, Haining Tongyuan Chemical factory, Rockwood Holdings Inc., and Tokai Carbon Co. Ltd.