Published Date : Nov 14, 2016
Albany, NY, Nov 14, 2016: The research report, titled “Global Dyes And Pigments Market 2016-2020” offers a 360-degree view of the global dyes and pigments market. As per the findings of the report, the market is projected to rise at a CAGR of nearly 4% from 2016 to 2020.
Pigments and dyes are extensively used in a wide range of industries such as paints and coatings, textiles, plastics, and pharmaceuticals. The rising demand for high-performance pigments in paints and coatings and automotive industries is driving the global dyes and pigments market. High-quality pigments such as quinacridones offer high durability, improved resistance to light and heat, and superior pigment concentration. Thus, the growing awareness about the advantages of such pigments is contributing to the growth of the overall market. Moreover, the flourishing growth of end-user industries, especially in developing countries such as Indonesia, India, and China, is triggering the demand for dyes and pigments.
However, the environmental pollution and health hazards related to the manufacturing and application of dyes and pigments has compelled governments worldwide to make stringent regulations. The increasing stringency of these regulations is hampering the growth of the global dyes and pigments market. Furthermore, local players in the market are competing fiercely with the multinational players in terms of price. This, in turn, is staggering the overall revenue growth of the market. On the bright side, these stringent environment laws are impelling manufacturers to produce natural dyes. The increasing demand for natural dyes coupled with the easy accessibility to the raw materials required for their manufacturing is likely to present tremendous growth potential to the market.
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Based on application, the global dyes and pigments market is segmented into textiles, plastics, printing inks, and paints and coatings. Paints and coatings was the leading segment in terms of revenue in 2015. The rapid growth of end-user industries such as construction, plastics, and automotive is fuelling the growth of this segment.
On the basis of geography, Asia Pacific is expected to lead revenue generation through 2020. The growth of this region can be attributed to the robust growth of the industrial sector, rapid urbanization, and growing demand from end-uses industries. Moreover, with the majority of international players shifting their manufacturing units to countries such as India, China, and Taiwan, the market is expected to flourish in Asia Pacific over the forecast period.
Due to easy raw material availability and cheap labor offered, developing economies such as India, China, and South Korea are emerging as attractive destinations for leading players in the global dyes and pigments market. As a result, companies are increasingly shifting their manufacturing units from western centers to these countries. The leading players in the market are LANXESS, DuPont, Clariant, BASF, Cabot, and Huntsman. Other prominent companies are Flint Group and Heubach.
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