The value of the dyes and pigments market was $37,549 million in 2021, and will reach $57,947 million by 2030, at a growth rate of 5% in the years to come. This is because of the rising income, rising construction activities, thriving industries like paints & coatings, automotive, packaging, and textile; growing government initiatives for the textile sector, and snowballing awareness toward eco-friendly products.
Organic pigments will grow faster in the years to come. The reason for this will be the increasing awareness of consumers concerning the ills of inorganic pigments, growing use of organic alternatives in printing inks, and budding F& B industry, where these pigments are used as coloring agents.
Inorganic pigments had the larger share in the past, and they are further will maintain their position in the near future. This is because of their cost- effectiveness, increasing industrial use because of their high opacity, lightfastness, fade confrontation, and insolvability; and increasing necessity for inorganic pigments in surface coatings.
The growth of construction, automotive, paints & coatings, printing, plastics packaging, and cosmetics & personal care industries is increasing the demand for dyes and pigments. The increasing income is allowing customers spend more on personal care products. Media penetration, advertising, and promotional offers played a crucial role in increasing the demand for such products.
APAC was the regional dominator of over 60% in the past, and will continue like this in the future as well. This is credited to the increasing economy, growing implication of product innovation, growing urbanization rate, and’ changing preference of consumers. The increasing use of pigments in paints & coatings, automotive industry, and inks & varnishes is fueling the affluence of the market players.
It is because of the increasing consumer awareness with regards to eco-friendly dyes and pigments, the demand for the same is om the rise all around the world.
