Global Dyes and Pigments Market 2016-2020
About Dyes and Pigments
Dyes and pigments are both coloring substances but differ from the other in terms of their solubility. While dyes are easily soluble in water and are absorbed by the material to which they are applied, pigments are insoluble in water and in most solvents. Pigments require mixing with a liquid binder or a carrying base that acts as a glue, and in which the pigment particles remain suspended. Dyes and pigments are used extensively in a range of industries like textiles, paints, pharmaceuticals, coatings, and plastics.
Technavio’s analysts forecast the global dyes and pigments market to grow at a CAGR of 3.99% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global dyes and pigments market for 2016-2020. To calculate the market size, the report considers the sales volume of dyes and pigments to key end-use industries worldwide. The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Dyes and Pigments Market 2016-2020
Technavio recognizes the following companies as the key players in the global dyes and pigments market: BASF, Clariant, Cabot, DuPont, Huntsman, and LANXESS.
Other Prominent Vendors in the market are: ATUL, DIC, ECKART, Heubach, and Flint.
Commenting on the report, an analyst from Technavio’s team said: “Shift of manufacturing hub to APAC will be a key trend for market growth. Dyes and pigments are derived from invertebrates, minerals, and other natural sources. These products are manufactured worldwide in developed and developing countries. Countries such as the US and those in Europe and Central and South America are the main producers of dyes and pigments. However, the manufacturing bases in European countries such as the UK, Germany, and Switzerland are increasingly shifting to APAC because of the region's relatively low-cost labor, favorable government subsidy packages like interest subsidy on loans, and increased downstream processing capacity. As a result, countries in APAC such as China and India are emerging as key manufacturing hubs for dyes and pigments.”
According to the report, growth of end-use industries will be a key driver for market growth. Dyes and pigments cater to the coloring requirements of a number of industries. With the global economy recovering from the effects of the recession of the late 2000s and early 2010s, industries have shown improved activity and are looking at positive developments over the next five years. This is further enhanced by the improved consumer ability to spend more money on the products these industries provide. Companies are encouraged to design products that are in line with changing consumer expectations.
Further, the report states that growing pressure on pricing strategies will be a challenge for the market. Trade protectionism is prevalent in the chemical industry and is widely implemented in emerging countries such as Brazil, China, Turkey, and India. These countries levy significant import duties on petrochemicals, including dyestuffs, to secure the prices and interests of indigenous vendors. This practice leads to artificial price fixing and can increase the prices of the products. The production of dyestuff for the textile segment is limited to certain regions, and the product often needs to cross several frontiers to reach the end-user. For instance, the surplus supply of dyestuff for textiles from the EU finds it difficult to enter the Southeast Asian markets because of high import tariffs. These products are, therefore, available at higher prices to end-users.
BASF, Clariant, Cabot, DuPont, Huntsman, LANXESS, ATUL, DIC, ECKART, Heubach, Flint.