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The Synthetic Dyes And Pigments Industry Grows With Increasing Demand From End-Users

Segments covered: By Product Type – Acid Dyes, Disperse Dyes, Reactive Dyes, Direct Dyes, Basic Dyes, VAT Dyes, Other Dyes, Inorganic Pigments, Organic Pigments; By End User Industry – Textiles, Food And Beverages, Paper, Inks, Leather, Paints And Coatings, Plastics, Cosmetics And Personal Care, Others

/EIN News/ -- LONDON, June 03, 2021 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the synthetic dyes and pigments market, dyes and pigments find multiple applications in paints and coatings, printing inks, textile, construction and plastics. The paints and coatings industry is experiencing high growth due to expanding infrastructure development in many countries.

Major driving factors of the synthetic dyes and pigments market are increasing demand for high-performance pigments (HPP), and growing opportunities for new applications in end-user industries such as printing inks, textile, construction and plastics. The global paper, plastics, rubber, wood and textile market is estimated to grow from $5,782.5 billion in 2020 to $8,049.7 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%, implying the demand of synthetic dyes in the market.

The synthetic dyes and pigments market is expected to especially be driven by the rapidly growing packaging industry. This is mainly due to increased demand from the toiletries, food & beverages, healthcare, and other industries, particularly in emerging economies. The market for synthetic dyes and pigments is expected to grow with the launch of high-quality digital printing applications on flexible packaging and labelling. Growing demand for digital printing due to the need for high quality printing will lead to an increase in the demand for packaging printing, driving the synthetic dyes and pigments market.

For example, the Asia Pacific packaging and labeling industry is forecasted to grow to $91.28 in 2030 as compared to $40.15 in 2020.

The Business Research Company’s report titled Synthetic Dye And Pigment Global Market Report 2021: COVID-19 Impact and Recovery to 2030 covers major synthetic dyes and pigments companies, synthetic dyes and pigments market share by company, synthetic dyes and pigments manufacturers, synthetic dyes and pigments market size, and synthetic dyes and pigments market forecasts. The report also covers the global synthetic dyes and pigments market and its segments.

Request For A Sample Of The Global Synthetic Dyes And Pigments Market Report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=2907&type=smp

The global synthetic dyes and pigments market is expected to grow from $53.95 billion in 2020 to $58.61 billion in 2021 at a compound annual growth rate (CAGR) of 8.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is then expected to grow at a CAGR of 4.8% from 2020 to reach $68.35 billion in 2025. The synthetic dyes and pigments market expected return is $80.99 billion in 2030, at a CAGR of 3.5%.

Going forward, rising demand for high performance pigments, high demand from end-user industries. and increasing demand from the packaging industry will drive growth. Factors that could hinder the growth of the synthetic dyes and pigments market in the future include fluctuating raw material costs, reduction in free trade, growing demand for natural dyes and pigments and outbreak of coronavirus disease (COVID-19), which are reasons that could lead to the synthetic dyes and pigments market expected to crash.

Asia-Pacific was the largest region in the synthetic dyes and pigments market 2020, accounting for 32.3% of the total. It was followed by Western Europe, North America, and then the other regions. Going forward, the fastest-growing regions in the synthetic dyes and pigments market will be Africa and the Middle East, where growth will be at CAGRs of 9.0% and 8.0% respectively. These will be followed by South America, and Eastern Europe where the markets are expected to grow at CAGRs of 7.5 and 5.3% respectively, during 2020-2025.

The synthetic dyes and pigments market is relatively fragmented, with a large number of small players. The top ten competitors in the market made up to 24.9% of the total market in 2020. Major players in the market include BASF SE, The Chemours Company, Tronox Holdings plc, Venator Materials PLC, Kronos Worldwide, Inc. and others.

Synthetic Dye And Pigment Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here Is A List Of Similar Reports By The Business Research Company:

Synthetic Rubber And Fibers Global Market Report 2021: COVID-19 Impact and Recovery to 2030

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Printing Inks Market - By Segments (Oil-Based Printing, Solvent Based Printing, Water-Based Printing), By Application (Offset Printing Inks, Flexographic Printing Ink, Digital Printing Ink), And By Region, Opportunities And Strategies – Global Forecast To 2022

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