NEW YORK, Sept. 21, 2016 /PRNewswire/ -- Dye is a colored substance that has an affinity to the substrate to which it is being applied. Dyes are applied in an aqueous solution, and may require a mordant to improve their fastness on the fiber. Pigments are substances that impart black, white or a color to other materials, especially in a powdered substance that is mixed with a liquid in which it is relatively insoluble, and are used especially to impart color to coating materials (as paints) or to inks, plastics and rubber. Chlorophyll, Carotenoid, Phycobilin and Melanin are some pigments.
The Synthetic Dye and Pigment industry comprises establishments that primarily engage in manufacturing synthetic organic and inorganic dyes and pigments, such as lakes and toners (except electrostatic and photographic). Synthetic dyes are organic dye compounds that are originally derived from coal-tar derivatives synthetically produced from benzene and its derivatives. Eosin, methylene blue and fluorescein are different synthetic dyes.
Synthetic Dye and Pigment was one of the smaller segments in the chemicals market in 2015 with revenues of $XX billion and XX% market share.
Asia was the largest geographic market in the synthetic dye and pigment market in 2015, accounting for $XX billion or XX% of the global market. Asia is the largest market because of growth in production technology, manufacturing industry, cheap labor and operational costs. Europe was the second-largest geographic market, accounting for $XX billion or XX% of the global market. The Americas was the third-largest geographic market, accounting for $XX billion or XX% of the global market.
Global per capita synthetic dye and pigment consumption grew from $XX in 2011 to $XX in 2015 at a CAGR of XX% and is expected to grow to $XX in 2019 at a CAGR of XX%. Per capita consumption is increasing because of growth in end-user industries, leading to an increased consumption of synthetic dyes and pigments.
There has been an increasing migration of manufacturing capacities from the West to low-cost countries in the Asia-Pacific region. This is driven mainly by stringent environmental compliance issues in Europe and North America. Gradually maturing production technologies and the presence of strong downstream customer bases within countries such as China and India have been propelling demand for pigments in these countries in recent years. Examples of companies that have moved their manufacturing facilities to the Asian region are Huntsman Corp, DyStar and Clariant.
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