Dyes & Pigments Market Size was valued at USD 37.3 billion in 2022. The Dyes & Pigments industry is projected to grow from USD 39.16 Billion in 2023 to USD 57.86 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 - 2032). Growing demand for dyes and pigments from the packaging industry are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for Dyes & Pigments is being driven by essential components used in the wide range of industries, including textiles, paints and coatings, plastics, printing inks, and others. The growing awareness of environmental issues and the need for sustainable and eco-friendly materials is driving the demand for such dyes and pigments. This trend is particularly strong in developed economies, where consumers are becoming more conscious of the environmental impact of the products they purchase. The use of organic and natural dyes and pigments is increasing as they are non-toxic and biodegradable, making them an attractive option for environmentally conscious consumers. Manufacturers are investing in the development of new sustainable products to meet this growing demand.
Additionally, the automotive industry is a significant consumer of coatings, with the demand for customized colors and finishes driving the demand for specialized dyes and pigments. The increasing demand for high-performance coatings, such as those with improved durability, resistance to weathering, and UV protection, is also driving the growth of the market. Also, the construction industry is particularly important as it is experiencing significant growth due to urbanization and infrastructure development in emerging economies. The use of coatings in construction is increasing as they offer protection against weathering, corrosion, and other forms of degradation.
For instance, The European Union's REACH (Registration, Evaluation, authorization & restriction of Chemicals) regulation restricts the use of certain chemicals in the production of dyes and pigments. It requires manufacturers to register their chemicals with the European Chemicals Agency (ECHA) and provide information on their safety and potential risks to human health and the environment. This initiative has been instrumental in promoting the use of more sustainable and eco-friendly dyes and pigments in the European market. Thus, driving the Dyes & Pigments market revenue.
The Dyes & Pigments market segmentation, based on type includes dyes and pigments. The dyes segment dominated the market, accounting for 60%-70% of market revenue. The demand for eco-friendly has increased which leads to an increase in bio-degradable colorants.
Figure 1: Dyes & Pigments Market, by Type, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The dyes and pigments market segmentation is based on the end-user industry, which includes Textile, Leather, Paper, Paint, Printing Inks, Plastics. In the printing inks industry, dyes and pigments are used to achieve the desired color and quality in printed products, particularly in the packaging industry. The leather industry is another significant consumer of dyes and pigments, while the plastics industry uses pigments to color plastics for various applications, including packaging, construction, and automotive parts.
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific Dyes & Pigments market area will dominate this market, owing to demand from the textile, construction, & automotive industries in the region. Furthermore, favorable government policies to promote the growth of the domestic chemical industry have also played a significant role in increasing the supply of dyes and pigments. Further, the China Dyes & Pigments market held the largest market share, and the India Dyes & Pigments market was the fastest growing market in the region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: DYES & PIGMENTS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Dyes & Pigments market accounts for the second-largest market share due to growing demand for high-quality products, the rising use of organic pigments, and increasing investments in research and development activities. Further, the German Dyes & Pigments market held the largest market share, and the UK Dyes & Pigments market was the fastest growing market in the European region
The North America Dyes & Pigments Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to several factors, including the growing demand for high-quality products, increasing investments in research and development, and the rising use of organic pigments. The U.S., as an instance, is the largest market for dyes and pigments in North America, accounting for a significant share of the market. It has a well-established chemical industry, with several companies investing in research and development to develop innovative products that meet the growing demand from various end-user industries.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Dyes & pigments market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Dyes & Pigments industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Dyes & pigments industry to benefit clients and increase the market sector. In recent years, the Dyes & pigments industry has offered some of the most significant advantages to medicine. Major players in the Dyes & pigments market are DIC CORPORATION, Archroma, DyStar, Clariant, and others, are attempting to increase market demand by investing in research and development operations.
DIC Corporation is a leading manufacturer of printing inks, organic pigments, and synthetic resins, with a presence in more than 60 countries worldwide. Its dyes and pigments business is a key component of its operations, offering a wide range of high-quality products for various end-user industries. The company's product portfolio includes pigments for printing inks, coatings, plastics, and textiles, as well as organic and inorganic pigments for various other applications. Its pigments are renowned for their color strength, excellent lightfastness, and outstanding durability, making them ideal for use in a wide range of applications. Also, it invests heavily in research and development to develop new & improved products that meet the evolving needs of its customers. In November 2019, DIC Corporation collaborated with Warehouse TERRADA’s PIGMENT TOKYO, a unique art supply store in Tokyo, Japan, to expand its pigments business. The collaboration leverage DIC's expertise in pigments and Warehouse TERRADA's extensive network and knowledge of the art industry to develop new products and expand their customer base.
Archroma is a Swiss-based leader in the production of specialty chemicals for a variety of industries, including textiles, paper, packaging, coatings, and emulsions. After foundation it start from the textile, paper, and emulsions businesses of Clariant, it has quickly established itself as a leader in the specialty chemicals industry, offering a wide range of high-performance solutions that help customers to achieve their goals in terms of product quality, cost, and sustainability its product portfolio includes a variety of specialty chemicals, including dyes and pigments, optical brighteners, finishing agents, and chemical specialties. Its dyes and pigments are renowned for their high color strength, excellent fastness properties, and superior performance in a wide range of applications. It has developed a range of eco-friendly and sustainable products, including its EarthColors range of dyes, which are made using natural waste materials such as nutshells, leaves, and roots. In May 2022, Archroma entered into a partnership with Stony Creek Colors to scale up production of plant-based dye-stuffs. The partnership enables Archroma to expand its range of sustainable dyes and pigments, while also helping Stony Creek Colors to access new markets and customers. The two companies work together to develop new, high-performance dye solutions using natural materials, with a focus on reducing the environmental impact of the textile industry.
March 2023: BTC Europe, a leading distributor of specialty chemicals signed an agreement with Sudarshan Chemical Industries, a manufacturer of high-quality pigments, for the distribution of Sudarshan's range of organic and inorganic pigments in Europe. This agreement enables BTC Europe to expand its product portfolio and offer a wider range of pigments to its customers across Europe.
August 2022: Archroma, a leader in specialty chemicals acquired Textile Effects Business of Huntsman Corporation, a leading provider of textile dyes and chemicals. This acquisition significantly expand Archroma's product portfolio and strengthen its position in the textile industry. The Textile Effects Business of Huntsman Corporation a strong presence in the Asia-Pacific region and provide Archroma with greater access to this fast-growing market.
February 2021: The Heubach Group entered into partnership with SK Capital Partners, announced acquire Clariant’s Pigments Business. The combined business operates under the Heubach name, creating a pigments leader generating more than €900 million in annual sales.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 37.3 billion |
| Market Size 2023 | USD 39.165 billion |
| Market Size 2032 | USD 57.86454246 billion |
| Compound Annual Growth Rate (CAGR) | 5.00% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End-use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | DIC CORPORATION, Archroma, DyStar, Clariant , LANXESS, BASF SE , Kiri Industries Ltd , Huntsman International LLC Heubach GmbH, Neelikon , Atul Ltd |
| Key Market Opportunities | · Healthy growth of the textile industry in developing economies |
| Key Market Dynamics | · The rise of digital printing technologies |
Dyes Pigments Market Highlights:
Frequently Asked Questions (FAQ) :
The Dyes & pigments market size was valued at USD 37.3 Billion in 2022.
The market is projected to grow at a CAGR of 5.00% during the forecast period, 2023-2032.
Asia Pacific had the largest share in the market
The key players in the market are DIC CORPORATION, Archroma, DyStar, Clariant , LANXESS, BASF SE , Kiri Industries Ltd , Huntsman International LLC Heubach GmbH, Neelikon , Atul Ltd
The Dyes category dominated the market in 2022.
The printing inks had the largest share in the Dyes & Pigments Market
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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