LONDON, July 15, 2015 /PRNewswire/ -- World demand to exceed $30 billion by 2019
Worldwide demand for dyes and organic pigments is expected to grow at a healthy pace, increasing to more than $30 billion in 2019. Rising personal consumption expenditures will drive increased dye and organic pigment demand in textiles and plastics, while strong growth in global construction expenditures will boost demand in paints and coatings. Increases in value demand will further reflect the growing importance of more expensive, higher value dyes and pigments that meet increasingly stringent performance stan-dards and preferences for more environ¬mentally friendly products. Despite the healthy growth, even faster advances will be limited by a moderation in worldwide motor vehicle production, and slow growth in printing inks due to challenges facing the print media industry.
Textiles to be main driver of dye & pigment demand
Rising textile production -- the textile market accounted for more than half of world dye and organic pigment demand in 2014 -- will be the primary contributor to increased demand going forward. However, increased consumer expendi¬tures will also contribute to above average growth in organic pigment demand in plastic products. Dye and organic pigment consumption will remain concentrated in the Asia/Pacific region, where the majority of world textiles and consumer plastic products are manufac¬tured. While China will remain the dominant consumer of dyes and organic pigments, more rapid growth will be experienced in some of the smaller Asian markets such as Bangladesh, India, and Vietnam, as textile and plastic producers continue to seek out the lowest cost options. In addition, consumer prefer¬ences for new, unusual colors that don't fade, and yet are environmentally friendly, will boost growth in value demand as textile producers increasingly turn to newer, higher value products.
Paint & coatings to be fastest growing application
The fastest growth in dye and organic pigment demand will be in paint and coatings applications, driven primarily by strong advances in construction expendi¬tures in North America and continued growth in the Asia/Pacific region. As in other applications, the increasing use of more expensive products that afford greater tinting strength and yet remain environmentally eco-friendly will help drive value gains. While the outlook for many applications remains healthy, more moderate advances are forecast in dye and organic pigment demand in printing inks, due to the growing publishing of information in electronic form. Opportu¬nities will exist, though, for dyes and organic pigments that can be used in digital inks.
Dyes remain dominant over pigments
Dyes will continue to represent the majority of the overall market in both volume and value. Disperse and reactive dyes will continue to represent nearly half of total world dye demand, due to their popularity in the large textile mar-ket, where they are commonly used to color polyester and cotton, respectively. Organic pigment demand will rise mod-erately faster than dyes going forward, though from a smaller base. Organic pigments are expected to gain further market share due to the increased usage of high performance pigments in printing inks, coatings, and plastics applications.
This upcoming industry study, World Dyes & Organic Pigments, presents historical demand data (2004, 2009 and 2014) plus forecasts (2019 and 2024) by product, end use market, world region, and for 19 countries. The study also considers key market environment factors, examines the industry structure, evaluates company market share and profiles 33 competitors in the global industry.
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