Dyes and Pigments Market to Grow by USD 12.98 Bn. from 2022-2027: Technavio
09 September 2023: Dyes and pigments market size is expected to grow by USD 12.98 billion from 2022 to 2027. In addition, the growth momentum of the market will be progressing at a CAGR of 5.66% during the forecast period, according to Technavio. Increasing demand for dyes and pigments from various industries is notably driving the dyes and pigments market. However, factors such as volatility in raw material prices may impede market growth. The market is segmented by product (Pigments and Dyes), end-user (Paints and coatings, Textiles, Printing inks, Plastics, and Others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
Rising awareness about the use of organic and natural dyes is notably driving the growth of the market. The surging popularity of organic and natural dyes can be attributed to their pronounced advantages, particularly their minimal adverse effects on human well-being. These dyes, sourced from renewable origins like plants, vegetables, and fruits, ensure their safety for application in products that come into direct contact with the human body. Furthermore, their environmental credentials offer an additional layer of appeal. A fascinating aspect of these dyes is their capacity to yield a broader spectrum of colors, adding to their allure.
The pigments segment is estimated to witness significant growth during the forecast period. Pigments play a pivotal role in presenting vibrant and enduring hues to paints. Their transformative impact enhances surface aesthetics, bolsters resilience against weathering and fading, and contributes substantively to the overall durability of paint compositions. Organic pigments, originating from organic compounds, are renowned for their capacity to infuse paints with vivid and dynamic colouration.
Europe is estimated to account for 36% of the global market during the forecast period. Countries such as China, India, and Japan have invested heavily in developing advanced manufacturing capabilities, allowing them to produce high-quality dyes and pigments at competitive prices.
Challenge – Rise in health and safety concerns due to synthetic dyes and pigments restricts the growth of the market. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View FREE PDF Sample Report
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