Global Colorants Market 2017-2021
Colorants are specialty chemicals added in plastics and other substances to impart color. Colorants are used in various applications such as painting, printing, coloring materials like plastics, and foods. Colorants are classified as organic and inorganic. Organic colorants are made of carbon atoms and carbon-based molecules. Most organic colorants are soluble dyes. Pigments that are derived from mineral compounds are known as inorganic colorants. Minerals that are used in inorganic colorants are oxides or sulfides of one or more than one metals.
Technavio’s analysts forecast the global colorants market to grow at a CAGR of 5.23% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global colorants market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Colorants Market 2017-2021
Technavio recognizes the following companies as the key players in the global colorants market: Clariant, Huntsman International, BASF, Cabot Corporation, PolyOne, and DIC CORPORATION.
Other Prominent Vendors in the market are: Ampacet Corporation, A. Schulman, Archroma, Atul, Flint Group, Heubach Color, Holland Colours, Solvay, Sudarshan Chemical Industries, LANXESS, Chromatech Incorporated, DuPont, DyStar, Ferro Corporation, and Greenville colorants.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for color shades in cosmetic industry. The basic colors, such as beige and mauve, are in high demand in the cosmetics market. In addition, colors like orange, olive green, and purple in cosmetics is growing consumer base. Earlier, only some specific colors were popular, but now consumers are offered different shades and hues in cosmetic products.”
According to the report, one driver in the market is increasing demand for plastics. The increase in the use of plastics in the automotive, packaging, and constructions industries in the emerging economies, such as China, India, and Brazil, is anticipated to foster the growth in the colorants market. Plastic in the automotive industry is used in interior as well as exterior parts to reduce the overall weight of the vehicle, which in turn, increases the fuel efficiency of the vehicle. Colorants are extensively used to give an attractive appearance to the plastic parts. Colorants such as pigments and dyes are used more for coloring plastic components.
Further, the report states that one challenge in the market is volatility in raw material prices. Colorants are majorly derived from benzene. Benzene is derived from crude oil. The availability and the price of benzene affect the price of colorants. For instance, the price of benzene was $640.19 per metric ton in July 2016, which increased to $1055.35 per metric ton in Jan 2017 and again dropped to $729.38 per metric ton in July 2017. Such fluctuations in prices, negatively affect the cost and operations of vendors involved in colorants manufacturing. It affects the profit margins of vendors and hinders the production process by disrupting the demand and supply ratio. Furthermore, it is anticipated that the demand for bio-diesel will increase in the coming years, which will also cause a surge in the prices of biofuel.
Clariant, Huntsman International, BASF, Cabot Corporation, PolyOne, DIC CORPORATION, Ampacet Corporation, A. Schulman, Archroma, Atul, Flint Group, Heubach Color, Holland Colours, Solvay, Sudarshan Chemical Industries, LANXESS, Chromatech Incorporated, DuPont, DyStar, Ferro Corporation, and Greenville colorants.
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