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Global Colorant Market was valued US$47 Bn by 2017 and is estimated to reach approximately US$77 Bn by 2026 at a CAGR of about 6 % during a forecast period.
Global colorant market is segmented by source, by end use, by product and by region. Based on source of colorant, colorant market is fragmented into natural and synthetic. Based on colorant type, colorant market is divided into dyes and pigment. Based on end use industry, colorant market is segmented into packaging, paint & coatings, textile, paper and others. Based on geography, colorant market is divided into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Textile printing is considered to be a major growth opportunity for colorants manufacturers. Increasing disposable income coupled with consumer spending on packaged food products and fashionable garments is estimated to drive colorant demand over the forecast period. Increasing demand from various end use industry such as plastic, paints & coatings, automotive, and packaging drive the market. However, restriction on trade of artificial colorants adds restrain to the market growth. Excessive supply of dyes, leads to its decreased prices also restraints the market. Increasing use of colorants for colouring plastics is driving the colorants market. Moreover, growing importance of aesthetics in the packaging industry is another driver fuelling the growth of the colorants market.
Global Colorant Market
Synthetic source is dominating the market due to enhance performance offered. Synthetic dyes are readily available at low cost, does not fade when expose to sunlight, gives excellent performance to harsh environmental condition, long lasting gloss, requires less processing cost. Natural colorant are predicted to gain importance due ecofriendly and increased environmental awareness in order to avoid some hazardous synthetic dyes.
Pigments is becoming popular in printing textiles owing to the trends in the fashion industry. Pigments are used as raw materials to produce master batches. Consumption of pigments in the packaging application has increased for colouring packaging materials such as metal, paper, plastics, and fabric.
Demand for pigments is very high in the paints & coatings application which include automotive and building & construction sector. Out of these packaging segment is leading the colorant market. Colorants are used to colour plastic which are used in packaging of goods to attract the consumer by enhancing the appearance of packaging. Packaging segment is followed by paint & coatings industry which includes automotive and construction uses pigment as a colorant is predicted to grow rapidly during a forecast period.
Europe constitute a one third share of the market. Germany being the leading market for dyes & pigments. North America is a second largest colorant market and will show a steady growth during forecast. Asia pacific is anticipated to be fastest growing over the next decade. Colorants demand in the region was estimated over 450 kilo tons in 2015 with China being the dominant consumer over the past few years.
Key players of the colorant market include BASF SE, Sun Chemical Corporation, Clariant AG, Polyone Corporation, E. I. Du Pont De Nemours and Company, Lanxess, Huntsman Corporation, Dystar, DIC Corporation, and Cabot Corporation, Cathay Pigments, Haining and Tongyuan Chemical Factory, Rockwood Holdings Inc.,, OCI Company Ltd., Silberline Manufacturing Co. Inc., Shepherd Color Company and Toyo Ink SC Holdings Co Ltd. CPS Color AG, DIC Corp, E.I DU Pont De Nemours & Co, KRONOS Worldwide Inc, Lanxess AG, Kiri industries Ltd, Merck KGAA , Ferro Corp, Colors and Chemicals Mfg. Co. Ltd, Hunstam International LLC., Ishihara Corporation.
Scope of the Global Colorants Market
Global Colorant Market by Product Type:
Global Colorant Market by End Use Type:
• Paint and coatings
• Food & Beverages
• Paper & Printing
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Report Published by: Maximize Market Research
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