Market Synopsis:
Dyes play an integral role in the chemical industry and enhances the growth of the market. In recent times, synthetic Dyestuff has replaced natural Dyestuff and has covered a large market share. Dyestuff is available in types such as nitroso dyes, cyanine dyes, anthraquinone dyes, nitroso dyes, azo dyes, and others. According to a new report by Market Research Future (MRFR), the COVID-19 Dyestuff Market Analysis is expected to expand at 8.3 % CAGR during the forecasted period (2016-2023).
Garments, textiles, and carpets are prominent sectors using dyes in the textile industry. The market for dyestuff is no longer restricted to the textile industry and has diversified into other sectors as well. As the chemical properties differ, various kinds of Dyestuff are utilized for various uses. Waterless dyeing and dyes are developed to battle water pollution since water used in the dyeing process are usually released into water bodies such as lakes and seas. The demand for natural dyes is increasing at a significant rate, owing to the drawbacks of synthetic dyes.
Industrial Developments:
Huntsman Textile Effects on October 2017 introduced a Teratop XKS HL range of reactive inks which were being exclusively designed for mills to produce technical textiles. These textiles possess highest color-fastness performance for outdoor furnishings, automotive, and home textile industries.
Competition Analysis:
Some of the prominent players operating the Dyestuff Market are Lanxess AG (Germany), BASF SE (Germany), Clariant International Ltd. (Switzerland), Setaş Color Center (Turkey), Orion Colorchem Industries (India), and more.
Future Drivers Affecting the Market Growth:
With the growth of industries such as paper, leather, wood, textile, and others, the market is sure to expand. Dyestuff is also used to color a variety of textile fibers that incorporates acrylic fibers, nylon fibers, and polyester fibers. As the demand for technical textile is expanding at a rapid pace, the global market for Dyestuff is anticipated to witness growth in the future. Moreover, growth in the apparel market is boosting the industry growth. Also, governments across countries are supporting trade associations which are expected to propel the growth of the market globally.
Meanwhile, volatility in the cost of raw materials will negatively impact the market growth. Falling margins due to overcapacity will also act as a hindrance to the growth of the market. Strict government mandates on the use of synthetic Dyestuff will hinder the market growth.
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Global Dye Stuff Market Segmentation:
The Global Market for Dyestuff can be segmented on the basis of Process, Form, Composition, Application, Type, and Region.
The market for Dyestuff is segmented into synthetic and natural dyestuff based on Form.
By Composition, the market is segmented into organic and inorganic Dyestuff.
Based on Process, the market is segmented into direct dye, sulfur dye, vat dye, disperse dye, acid dye, reactive dye, cationic dye, and others.
By Type, The market is segmented into cyanine dyes, azo dyes, nitroso dyes, anthraquinone dyes, and others.
The market can also be segmented into wood dye, leather dye, paper dye, textile dye, and others based on Application.
Regional Analysis:
The market is further segmented into Europe, North America, Latin America, Asia Pacific, and Middle East and Africa based on region.
Owing to the demand in industries such as leather, textile, and paper, Asia Pacific holds the largest market share of dyestuff, followed by India and China. With the growing demand for apparel in regions such as India, China, Taiwan, and South Korea, the Asia Pacific region is expected to witness a windfall in the Dyestuff Market.
Europe holds the second position after Asia Pacific and mainly driven by the textile industry. North America is anticipated to hold the third largest position, owing to the consumption in leather, paper, and textile industries. Moreover, Middle East and Latin America markets have also witnessed growth owing to the applications in paper dye, textile dye, wood dye, paper dye, and others.
COVID-19 Study in Detail:
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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