Global Dyes and Pigments Market To Generate Revenue worth $57,946.67 Million by 2030

The global dyes and pigments market is projected to generate $57,946.67 million revenue by 2030, advancing at a CAGR of 4.94% during 2021–2030. This can be ascribed to the rising demand for these materials from numerous industries, such as paints & coatings, inks & varnishes, and plastics; increasing construction activities, booming demand for high-performance pigments, and rising preference for environment-friendly products.

Inorganic Pigments and Reactive Dyes Held Major Revenue Share

In terms of pigments, the market is bifurcated into organic and inorganic. Of them, inorganic pigments accounted for the larger revenue share in 2021, and they are further expected to maintain their dominance during the forecast period. This is due to their good wetting, darker color, leanness, higher stability under heat and light, and lower costs in comparison to their organic counterparts. Moreover, the high usage of these pigments in the plastics industry to manufacture PVC pipes, window profiles, vinyl siding, and gutters drives the market demand.

The dyes market is categorized into reactive, vat, acid, direct, disperse, and others. Among these, the reactive dyes category held the largest revenue share, of more than 52%, in 2021. This can be attributed to the growing textile industry, rising consumer preference for eco-friendly textile solutions, expanding leather industry, and surging usage of printing inks. Reactive dyes are also gaining traction due to their water solubility, ease of application, resistance to the degradation caused by UV rays, and availability in different forms, such as powder, liquid, and print–paste, and in varying colors.

The different applications of pigments are plastics, paints & coatings, construction, printing inks, and others. Among these, paints & coatings held the largest revenue share in 2021, and this application is further expected to dominate the market during 2021–2030. This is due to the growing construction activities in emerging economies and booming automotive industry, owing to the surging launches of EVs. In addition, the growing consumption of paints & coatings in the aerospace, printing, and construction sectors is propelling the market growth.

Similarly, the applications of dyes include printing inks, textiles, paper, leather, and others. Among these, textiles contributed the majority of the revenue in 2021, and they are expected to maintain their position during the forecast period. This can be ascribed to the adoption of innovative technologies and growing fashion industry.

Furthermore, printing inks will register significant growth during the forecast period. The progressing digital printing sector, the ability of inorganic pigments to interact chemically with other ingredients and the better picture quality, with the addition of optical brighteners and color-enhancing agents than pigment-based inks, are the reasons for the market expansion.

Geographically, APAC accounted for the largest revenue share in 2021, and it is expected to dominate the market during the forecast period too. This can be ascribed to the rising disposable income, rapid industrialization, growing textile and plastics industries, increasing population, and rising demand for paints and coatings, especially in the building & construction and automotive industries.

North America held a significant revenue share in 2021. This is due to the presence of a large number of industry giants, high adoption of organic dying products, favorable regulations by government on the usage of organic pigments, and growing end-use industries.

Some of the major players in the dyes and pigments market are BASF SE, Clariant AG, Sudarshan Chemical Industries Limited, DuPont de Nemours Inc., Cabot Corporation, Lanxess AG, Huntsman International LLC, and Dainichiseika Color & Chemicals Mfg. Co. Ltd.