Organic Dyes and Pigments Market to Exceed US$ 37 Bn Amid Rising Need for Sustainable Dye Solutions to Curb Carbon Emission

NEW YORK, March 17, 2022 /PRNewswire/ -- The global demand for organic dyes and pigments market is projected to reach US$ 22 Bn in 2022, growing at a CAGR of 5.4% during the forecast period (2022-2032).

Demand for dyes and pigments to color different substrates, such as paper, hair, drugs, leather, grease, wax, and textile materials is expected to spur the sales. On account of this, the organic dyes and pigments market is expected to surpass US$ 37 Bn by 2032.

Besides this, rising demand for colorants in the textile and paints & coatings industries is projected to increase the adoption of organic dyes and pigments over the coming years. Also, growing preference for organic soap and light acids resistant compounds is likely to create lucrative prospects for the organic dyes and pigments market.

Rapid urbanization and government initiatives for developing modern infrastructure has increased the construction activities. This is propelling the demand for paints and coatings, thereby, improving the sales of organic dyes and pigments.

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Additionally, growing environmental concerns due to emission of hazardous pollutants during the manufacturing of traditional dyes and paints is likely to improve the demand for organic dyes and pigments.

Further, increasing popularity of digital printing for modern infrastructure is estimated to spur the demand for dyes for application in the printing inks. In addition to this, India and China are expected to be the major producers of dyes. This is estimated to offer lucrative opportunities for the growth in Asia Pacific market.

Key Takeaways:

• Asia Pacific is anticipated to dominate the market on the back of increasing demand for polyester coupled with expansion of textile industry in India.
• Based on product type, the organic dyes segment is estimated create an absolute $ opportunity of US$ 12 Bn by the end of 2032.
• In terms of application, the overall sales of organic dyes and pigments in textiles sector is projected to reach US$ 9 Bn during the forecast period.
• In terms of volume, the consumption of organic dye and pigment registered in 2021 was around 4,452 tons.

Growth Drivers:

• Growing environmental sustainability concerns among the consumers has surged the demand for eco-friendly products such as organic dyes and pigments. This is likely to bode well for the market.
• Improved standard of living and increasing purchasing power is pushing the demand for innovative and high-quality infrastructure. This is expected to fuel the demand in paints, coatings & inks segment.

Restraints:

• Stringent regulations regarding the manufacturing of dyes and pigments to reduce carbon emission and water pollution might limit the sales in the coming years.
• Fluctuations in production costs owing to unpredictability in raw materials cost, such as benzene, might impede the growth.

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Competitive Landscape:

According to Fact.MR, the top players of the global organic dyes and pigments market are KRONOS Worldwide, Inc., Atul Ltd, Cabot Corporation, Clariant, and DIC CORPORATION. These players are estimated to account for nearly 30% of the overall market share.

Leading players are adopting organic growth strategies such improving the production capacities to strengthen their global presence. Besides this, some of the players are also updating their product lines to expand their businesses in the coming years.

For instance,

• March 2019: Clariant partnered with Neste, a renewable hydrocarbon producer, to develop the first-ever bio-based version of Pigment Red 254. This is likely to aid in reducing the consumption of fossil resources and fossil-based carbon emissions.
• January 2020: Organic Dyes and Pigments (ORCO) launched its new addition of OrcoTint™ NS Bright Green GL to its existing "OrcoTint™NS Polymeric Color" line. This new dye improves the prevailing palette of three different blue shades and a violet to offer the users with a better, unique and non-staining colorant that fits their needs.

 Key Companies Profiled by Fact.MR

• Cabot Corporation
• BASF SE
• Clariant
• KRONOS Worldwide Inc.
• Atul Ltd
• Sudarshan Chemical Industries Limited
• DIC CORPORATION
• Organic Dyes and Pigments (ORCO)
• DuPont
• Huntsman International LLC.
• Kiri Industries Ltd.

More Valuable Insights on Organic Dyes and Pigments Market

Fact.MR, in its report, offers a market analysis on the global organic dyes and pigments market providing unbiased analysis for the forecast period of 2022 to 2032. This survey also reveals the growth projections in the organic dyes and pigments market with detailed segmentation on the basis of:

By Product Type:

• Organic Pigments
• Organic Dyes

By Application:

• Textiles
• Leather
• Paper
• Paints, Coatings & Inks
• Food & Beverages
• Pharmaceuticals
• Cosmetics
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa

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Key Questions Covered in the Organic Dyes and Pigments Market Report

• Which are factors driving the growth in the organic dyes and pigments market?
• What is the expected sales of global organic dyes and pigments market during 2022-2032?
• At what rate will the global organic dyes and pigments market grow until 2032?
• Which are the challenges faced in the global organic dyes and pigments market?
• Who are the key manufacturers in the organic dyes and pigments market?
• Which region is anticipated to exhibit fastest growth rate in global organic dyes and pigments market?

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SOURCE Fact.MR