Dyes and Pigments Market Size, Share & Industry Analysis, By Type (Dyes, {Reactive, Disperse, Vat, Acid, and Others}, and Pigments {Inorganic and Organic}), By End-use (Dyes {Textiles, Leather, Paper, Paints, Plastics, and Others}, Pigments {Printing Inks, Paints and Coatings, Plastics, and Others), and Regional Forecast, 2024-2032

The global dyes and pigments market size was valued at USD 42.64 billion in 2023 and is projected to grow from USD 44.68 billion in 2024 to USD 56.91 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period. Asia Pacific dominated the dyes and pigments market with a market share of 41.3% in 2023. Moreover, the dyes & pigments market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 11.12 billion by 2032, driven by the rapidly growing textile industry in the U.S., boosting the market size’s growth.

Dyes and pigments are substances that give a material color and are termed colorants often used in paints & coatings, plastics, textiles, and printing inks industries. Dyes are finer than pigments and not stable in UV, while pigments are typically stable in UV conditions. Dyes dissolve the coloring matter in the air and are absorbed into the substance they are applied to. This factor results in higher usage of products for surface protection and corrosion prevention. Textile and paints & coatings industries are on the rise due to population increase and economic development, thereby surging product demand. Moreover, the growing e-commerce industry led to a rise in printing inks demand, which is driving the dyes and pigments market growth.

The spread of the COVID-19 affected several countries globally, resulting in restrictions on finished goods and raw materials oversupply, thereby impacting the value chain. Major paints & coatings production countries were shut down, causing a dip in product consumption. Moreover, this aspect reduced the firms' production capacity due to a lack of workers and a shortage of raw materials. However, dyes and pigments are used as a key ingredient for the production of printing inks. The increasing spread of coronavirus has fueled the packaging industry, where packaging provides extra protection to finished goods to prevent the virus spread. This factor is thereby supporting the recovery of the market amid the pandemic.

Dyes and Pigments Market Trends

Growing Demand from Printing Ink Industry to Drive Market Growth

Growing demand for dyes and pigments from the packaging industry is one of the prime drivers for the global printing ink industry. The steady growth of e-commerce and the growing demand for foreign shipping of non-consumer products is expected to boost the packaging sector during the forecast period. Paperboard packaging has become relevant in the packaging sector and printing ink industry due to its durable design property. Rapid globalization has also led to the growing demand for printing ink, which is likely to remain a key driver for industry growth during the forecast period. Strong demand from package printing, package printing, publishing, and other industrial printing industries is anticipated to boost the growth of the printing ink industry. The product is extensively used in printing ink, which is one of the leading market trends. Inks are either paste or liquid and are preferably used for tattoos, coloring, and printing.

Anti-counterfeiting inks such as fountain pen ink, paper currency inks, and gel inks react with paper cellulose to create a permanent color change. A broader color spectrum and lower cost have been the main advantages of dye-based inks. Pigmented inks last longer and are more water-resistant. The pigments used in the printing ink are both inorganic and organic. Opaque pigments absorb light from their surface and mask or hide the surface they are printed on. Transparent pigments transmit light and allow visualization of the context in which they are printed through the film.

Dyes and Pigments Market Growth Factors

Rise in Textile Industry to Drive Market Growth

Global depletion of available capital, rapid changes and climate-related unpredictable trends, increasing population, knowledge of organic goods, and technological development are some of the factors attributable to the growth of the textile industry. The luxury brands have started to tap into the Asia Pacific market as domestic demand has slowly increased in the region.

The global textile industry is dominated by China, Japan, India, and the U.S. In 2018, China was the largest producer and exporter of textile apparel globally. In 2018, China's textile exports rose by around 3%, and it was the leading country in textile manufacturing and worth almost one-fourth of the global textile industry. In Europe, countries such as France, Italy, the Netherlands, Spain, and Germany are the major producers of textiles and account for around 32.1% of the world's textile exports. India was the third-largest fabricated textile industry. The U.S. has been one of the largest consumers of textiles.

Textiles are typically colored to make them attractive. There are two ways to add color to a textile - substratum impression and dyeing. Dyeing is the method of giving a textile material color by means of a dye. The product is used for coloring the materials. There are various forms of dyes such as direct dyes, vat dyes, reactive dyes, sulfur dyes, disperse dyes, acid dyes and metal complex dyes with different properties, affinity toward fibers. Textile dyes include acid dyes mainly used for the dyeing of linen, silk and nylon, and similar or substantive dyes with a strong affinity to cellulose fibers. Dyeing uses dyes and pigments on synthetic product types such as fibers, yarns, and others. Thus, the growth of the global textile industry is projected to drive this market.

Increase in Demand for Product from Paints & Coatings Industry to Drive Market

Dyes and pigments give paints and coatings their color and finish and serve to protect the underlying surface from corrosion and weathering and hold the paint intact. Pigments are particulate solids distributed in paints to provide other characteristics, including color, clarity, toughness, mechanical strength, and protection against corrosion in metal substrates.

The paints & coatings industry includes architectural, automotive, decorative, and others. The architectural industry is expected to fuel the demand for paint & coatings. The demand for architectural paints & coatings is projected to be fueled by healthy growth in spending on residential construction, especially in the U.S., Europe, and Japan. The demand for coatings in manufacturing applications is expected to increase due to the increasing production of motor vehicles and rising construction operations. Growth in the manufacturing sector for paints & coatings is attributed to growing infrastructure and rising investments in the construction industry.

 Global automotive industry development is one of the main reasons for developing the global demand for paints & coatings. In developing countries, economic growth and growing foreign investment have increased per capita income. As a result, the willingness of customers to purchase cars has increased, which in turn will fuel the demand for automotive paints & coatings. Therefore, increasing demand for paints & coatings is projected to augment market growth.

RESTRAINING FACTORS

Stringent Regulations Regarding Waste Generation to Hinder Market Growth

The EPA has classified residues from this industry as hazardous under the Property, Conservation and Recovery Act (RCRA). Waste from the manufacture of the product is classified as EPA hazardous waste K181. The waste comes from the preparation and processing of dyes and pigments at manufacturing facilities that occur on-site. Such groups of these products are widely used for clothing, paper, fabrics, leather, inks, paints & coatings, meats, medicines, and cosmetics coloration.

As many as 36 facilities nationally produce and maintain the production of dye & pigment waste, which this legislation may theoretically impact. The EPA reports that these installations produce about 36,000 metric tons of potentially affected waste annually. The waste generated from the industry adversely affects water bodies, humans, and aquatic life. Thus, the waste generated from this industry is likely to hamper the market's growth.

Dyes and Pigments Market Segmentation Analysis

By Type Analysis

Reactive and Inorganic Segments to Gain Impetus Due to Rising Demand from Textile Industry

Based on type, the market is segmented into dyes and pigments.

The dyes segment is further segmented into reactive, disperse, vat, acid, and others. In terms of demand, the reactive sub-segment held the major share of the dyes segment. Reactive dyes are available in various colors and have increasing demand as wool and nylon colorants. The growing textile industry and consumer shift toward sustainable textile solutions are driving the use of reactive dyes. Whereas the vat sub-segment is expected to expand rapidly during the forecast period due to its wide usage in cellulose fibers. Vat dyes are organic compounds used for coloring cotton fiber, leather, and viscose rayon. Demand for dispersed dyes can be attributed to high use of dyeing nylon, cellulose triacetate, and acrylic fibers.

The pigments segment is further bifurcated into inorganic and organic. The inorganic segment accounted for the primary share of the pigment segment and is likely to expand rapidly. Colors of pigments may be used to paint certain objects by painting them or combining them with the drug's ingredients. Organic pigments are colorants for food & beverages and skin cosmetics. Inorganic pigments use chemical formulae for different applications to achieve the desired properties of the material. Inorganic pigments use compounds derived from inorganic metal compounds and salts such as metallic oxides, chromates, sulfates, and others. Inorganic pigments have primary applications for industrial coatings such as automotive refinish, house paints, printing inks, and plastics.

By End-Use Analysis

Textiles Segment to Account for a Major Share Due to its Wide Usage in Dye Industry

Based on end-use, the market is categorized into textiles, leather, paper, paints & coatings, plastics, printing inks, and others.

In terms of dyes, the textiles segment constituted the major share during the forecast period. The leather segment is expected to expand at a rapid pace during the forecast period. Dyes can be classified as substances that, when applied to a substrate, give color through a process that alters the crystal structure of the colored substances, at least temporarily. With substantial coloring ability, these substances are commonly used in the textile industry. In the textile industry, up to 200,000 tons of such colors, due to the inefficiency of the dyeing process, are lost to effluents every year during the dyeing and finishing operations. Leather dyeing requires the application of active and acidic dyes in alkaline environments, most often with mordant. These are generally picked from the clothing dyes. The leather used in the making of clothing includes overall dyeing in which the surface color is the same as that of the cut area.

Dyes are used during the manufacturing of paints to attain the desired color and finish for applications in the metal, automotive, plastic, and printing industries. Dyes & pigments not only give paints and coatings their color and finish but also serve to protect the underlying surface from corrosion and weathering and hold the paint intact. Pigments are particulate solids distributed in paints to provide them with other characteristics, including color, clarity, toughness, mechanical strength, and protection against corrosion in metal substrates.

Dyes are usually used with polycarbonates, polystyrene and acrylic polymers. For example, Clariant provides a wide range of high-performance organic pigments, polymer-soluble dyes, and optical brighteners that fulfil strict regulations and safety laws for food packaging coloration while ensuring the product remains eye-catching and attractive to the end consumer. Moreover, dyes are used for an additional range of plastics, such as PVC, acrylic, plastic filaments and sheets, nylon, polyester resins, polyamide, polypropylene, polycarbonate, and ABS.

Printing Segment to Dominated the Pigments Market Due to its Wide Application Usage in Packaging Industry

In terms of pigments, printing inks held the key share, and paints & coatings industries are projected to expand rapidly during the forecast period. Printing inks will remain the largest sub-segment for pigments, driven by double-digit rises for metallic pigments used for packaging, graphics advertisements, phosphorescent pigments used for anti-forgery, counterfeiting, and other protection applications. Pigments are particles that are added to the formulations of paint & coatings to impart color. Dyes and pigments are often used in wet or dry films to impart the bulk of a desired physical and chemical property.

REGIONAL INSIGHTS

The market in Asia Pacific stood at USD 17.61 billion in 2023. Asia Pacific held the major share of the global market. The rise in the middle-class population is likely to boost global consumer spending. This factor will contribute to the growth of the textile and plastic industries, fueling the market growth. The textile industry accounted for more than half of the dyes and pigment demand, likely to be the primary contributor to the demand.

Consumption of dyes and pigments will remain concentrated in the Asia Pacific region, where the bulk of the world's production of textile and consumer plastic products occurs. Although China will remain dominant in the global market, countries such as Bangladesh, India, and Vietnam are witnessing a shift in textile and plastic production owing to low labor costs. In addition, consumer tastes for new, unique textile colors that are not fading and eco-friendly are anticipated to fuel demand growth as textile producers increasingly shift to these newer, higher-value goods.

The rapidly growing textile industry in the U.S. shall boost industry growth. According to the International Trade Administration (ITA), United States Department of Commerce, the textile and clothing industry in the U.S. is worth over USD 70 billion in terms of industry shipments. The rising use of titanium dioxide as a pigment in the manufacturing process of plastics will augment the market growth in Canada.

The rapidly growing leather industry in Europe is creating several new opportunities for this market and increasing product consumption in leather to further manufacture footwear, furniture, automotive industry, cloths, and other leather products.

The growing demand for the dyestuff business in Brazil for the apparel industry shall propel the market growth during the forecast timeframe. Furthermore, dyestuff plays an important role in the chemical sector, helping to drive Latin American market growth.

List of Key Companies in Dyes and Pigments Market

Key Players Devise Crucial Strategies to Maintain their Dominance in Market

The major players operating in the market are BASF SE, Clariant, Sudarshan Chemical Industries Limited, DIC CORPORATION, and Huntsman International LLC. Market participants face strong competition from regional and international players with large distribution networks and good supplier and regulatory expertise. Major market players are engaged in research and development to produce superior quality colors to provide enhanced features. Furthermore, the companies are now promoting strategic partnerships to improve their R&D efforts. The businesses put great emphasis on increasing the area of service to raise the market share and boost the company's revenues. The industry has the involvement of large numbers of multinationals and small producers running their companies by means of high volumes of production. Companies are dedicated to introducing new goods to suit the growing trends in consumers.

LIST OF KEY COMPANIES PROFILED:

• BASF SE (Germany)


• DIC CORPORATION (Japan)


• Clariant (Switzerland)


• Sudarshan Chemical Industries Limited (India)


• Huntsman International LLC. (U.S.)


• Atul Ltd (India)


• Cabot Corporation (U.S.)


• DuPont (U.S.)


• Kiri Industries Ltd. (India)


• KRONOS Worldwide, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• June 2021 - Sun Chemical and DIC Corporation acquired BASF’s global pigments business. This acquisition will extend DIC's portfolio as a global manufacturer of pigments for various applications such as electronic displays, cosmetics, coatings, paints, and inks.


• December 2020 - Asahi Songwon Colors started the commercial operations at the Dahej plant of Asahi Tennants Color, its 51:49 joint venture with Tennants Textile Colours Limited (TTC) of the U.K. This acquisition will widen Asahi’s presence as a global pigments supplier.

REPORT COVERAGE

The global dyes and pigments market research report delivers a detailed value chain analysis of the market and focuses on crucial aspects such as leading companies, end-uses, and types. Also, the report offers insights into market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the growth of the market in recent years.

Report Scope & Segmentation