Dyes & Pigments market COVID-19 Impact, Trends & Business Statistics By 2030Posted by Mrudula Karmarkar on September 22nd, 2022 The global dyes & pigments market size is expected to reach USD 57.2 billion by 2030, registering a CAGR of 5.2% during the forecast period, from 2022 to 2030 according to a new report by Grand View Research, Inc. Dyes & pigments market is projected to witness substantial growth in the consumption, on account of a high application scope coupled with increasing demand from textile and paints & coatings application. The product demand in Asia Pacific is expected to expand at the fastest CAGR, during the forecast period. The growing construction industry coupled with rapid industrialization and urbanization, increasing disposable income of the middle-class families in emerging economies of the region is likely to be the primary driving factor in the coming years. Moreover, strong government support & initiatives along with increasing investment by the government are the factors propelling the growth of the construction industry within the region, which in turn is anticipated to fuel demand for the product in the Asia Pacific. Increasing utilization of plastics in consumer goods is likely to provide a positive scope for market growth during the forecast period. Pigments are added to polymers to obtain the specific colors in plastic products. Its use in plastics depends upon their weather ability, aging, light fastness, warping, nucleation, and transparency. The demand for inorganic pigments is higher than organic plastics. The organic pigments tend to form clumps owing to their poor dispersion, which further results in spots and specks in the final product. As a result, inorganic pigments are a preferable option as they are easily dispersed. Titanium dioxide is the widely used inorganic pigment in the plastics application segment. Based on the product type, reactive dyes and disperse dyes are expected to witness major demand during the forecast period. Dyes cover a broad range of applications from being used in textiles to their application in organic LEDs and liquid crystal displays (LCD). Properties such as enhanced dyeing efficiency, photophysical/photochemical properties, and improved quality to reduce toxicity are expected to propel the growth of reactive dye and disperse dyes in the next eight years. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/dyes-and-pigments-market Increasing demand from various application industries, such as textiles, paints & coatings, construction, and plastics, is expected to drive the market growth. Major producers are actively venturing into enhancing their products by utilizing advanced technologies for the efficient removal of hazardous pollutants during the manufacturing process. Manufacturers are likely to experience varied production costs due to volatility in the prices of raw materials, such as benzene. A wide distribution network in the market is achieved through both physical retail stores and online retailing. Dyes & Pigments Market Report Highlights
The availability of the products on e-commerce platforms has increased the client base of the market participants. Rapid growth in the global construction industry has also been a key growth-driving factor for the overall market. Countries, such as the U.S., the U.K., China, Indonesia, India, Saudi Arabia, and UAE, are the major countries exhibiting significant global growth potential in the construction sector. The rising population coupled with rapid industrialization has encouraged governments to increase their construction spending for infrastructural development. Thus, an increase in construction expenditure across the world is expected to create massive product demand in the coming years. However, increasing environmental concerns are resulting in policy changes across the globe, which is anticipated to restrain the market growth during the forecast period. Major players in the market are involved in the research & development for the production of superior-quality colors that provide improved features. In addition, the companies are also adopting technological collaborations to boost their efforts in R&D activities. The products are generally distributed through the company-owned distribution channels; however, third-party distribution channels are also employed. The companies lay high emphasis on expanding the area of operation to increase their market share. The global dyes & pigments market is significantly fragmented owing to the presence of a large number of manufacturers across the globe. Some of the prominent players in the global dyes & pigments market:
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