Rising demand for dyestuff and masterbatch in various end use segments to drive global colorants market during the forecast period
According to TechSci Research report, “Global Colorants Market By Type, By Color, By End User Industry, By Region, Competition, Forecast & Opportunities, 2025”, the global colorants market is projected to grow at a CAGR of 9% until 2025 on account of surging demand for dyes and pigments from the textile, paints & coatings and flexible packaging industries. Over the next five years, anticipated growth in the global textile industry, increasing construction activities and rising number of infrastructure projects across the globe are expected to continue driving demand for paints & coatings, globally. However, due to COVID-19 outbreak in FY2020, the market has witnessed significant disruption in the supply of the raw materials and decline in demand, which has hugely affected the global colorants market. Nevertheless, it is anticipated that the market will get back to its pre-pandemic growth trend by end of 2020.
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"Global Colorants Market"
In terms of end user industry, the market is fragmented into packaging, building & construction, automotive, textiles, paper & printing and others. Out of these, the paper & printing segment accounted for the largest market share in 2019, followed by paints & coatings, textiles, packaging and plastics segments. Colorants are broadly classified into various categories which include dyes, pigments, masterbatches and color concentrates, which are further divided into sub-categories based on their unique properties. Based on type, the market can be categorized into dyes, pigments, masterbatches and color concentrates. Out of which, the dyes segment dominated the market in 2019 and is expected to maintain its leading position in the market during the forecast period as well.
Increasing demand for masterbatch from various industries such as fast-moving packaging industry and automotive industry would spur the global Colorants demand. Major players operating in the global colorants market include Clariant AG, BASF SE, DIC Corporation, Huntsman Corporation, E. I. du Pont de Nemours & Company, Cabot Corporation, LANXESS AG, PolyOne Corporation, Sun Chemical Corporation, LyondellBasell, Inc., Ampacet Corporation, The DOW Chemical Company, Atul Ltd., Chromatech Incorporated, and Ferro Corporation, among others. Major companies are adopting organic as well as inorganic strategies in order to stay competitive in the market such as new environment friendly product launches, mergers & acquisitions, agreements and collaborations.
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“Companies engaged in the production of colorants are continuously focusing on switching to environment friendly products. As a result of the ban imposed on some specific colorants for apparel & textiles usage, companies are moving forward with the production of non-carcinogenic azo dyes in order to meet surging demand from the global textile industry. With growing demand from the textile and plastic processing industry, the production and consumption of colorants is expected to witness growth at a healthy pace from 2021 onwards until 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Colorants Market By Type, By Color, By End User Industry, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global Colorants market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global Colorants market.
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