According to the latest market research study released by Technavio, the global dyes and pigments market is expected to grow at a slow and steady CAGR rate, close to 4%, during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global dyes and pigments market based on application:
Global dyes and pigments market share by application 2015
|
Paints and coatings |
29.0% |
|
Textiles |
24.5% |
|
Printing inks |
18.0% |
|
Plastics |
14.0% |
|
Other markets |
14.5% |
Source: Technavio
The top four revenue contributing application segments are discussed below:
Global dyes and pigments market for paints and coatings industry
There will be a steady growth in global demand for dyes and pigments market in the paints and coatings industry during the forecast period. Progress in end-user industries such as automotive, construction, and plastics, increase the demand for paints and coatings. With the increasing infrastructure investments and real estate developments, the APAC region is expected to dominate the global paints and coatings market during the forecast period.
“The global automotive market is now expected to grow after surviving the economic crisis. This directly leads to an increase in production and sales of vehicles, which will increase the demand for metals and paints,” says Swapnil Tejveer Sharma, a lead analyst at Technavio for research on paints, coatings, and pigments.
Technavio’s analysis states that infrastructure spending in APAC will grow by 7% year-on-year by 2025, representing approximately 60% of the total infrastructure market. The growing trade relations with other countries and the involvement of public-private partnerships has enhanced infrastructure development in the region. This further results in an increase in demand of varnishes, paints, plastics, and other materials.
Global dyes and pigments market for textile industry
Applications of textile varies based on requirements such as clothing and the making of products like curtains, bed covers, and carpets. Urbanization in the growing economies of APAC and Central and South America drives the textile market. Urbanization in APAC will grow from over 45% in 2015 to 50% in 2020. The global textile market has been registering significant growth over the past few decades and is anticipated to grow at a CAGR of over 4% during the forecast period.
Global dyes and pigments market for printing inks industry
Printing inks comprises of pigments which are mixed with oil or varnish such as black printing ink produced using linseed oil. It is expected that the global printing inks market will grow at a CAGR of more than 5% by 2020. The increase is resulted by the growing demand from the packaging sector and the rising consumption of UV-curable inks. The global packaging printing ink market is anticipated to grow at a CAGR exceeding 6% during 2016-2020. The printing inks industry consumed 1,692 kilotons of dyes and pigments in 2015, and this will increase to 2,042 kilotons by 2020, growing at a CAGR of 3.83%.
Global dyes and pigments market for plastics industry
The plastics industry uses pigments which are either organic or inorganic in nature that has properties such as opacity, heat stability, and broader chroma range. These pigments are dispersed with a resin matrix for use in plastics, whereas dyes dissolve in the resin. The growing demand from various end-user industries like pipes, injection molding, plastic films and sheets, as well as food and beverage packaging, will increase the global plastic demand. In terms of consumption, the global plastic market is anticipated to grow at a CAGR of 8% during 2016-2020.
The top leading vendors operating in the global dyes and pigments market are:
- BASF
- Clariant
- Cabot
- DuPont
- Huntsman
- LANXESS
The other prominent vendors in the market include ATUL, DIC, ECKART, Heubach, and Flint.
A more detailed analysis is available in the Technavio report titled, ‘Global Dyes and Pigments Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Printing Inks Market 2016-2020
- Global Antifouling Coatings Market 2016-2020
- Global Yacht Coatings Market 2015-2019
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