Insights on the Organic Functional Dyes Global Market to 2027 – by Type, External Energy, Application, and Region
Request Sample Report at: https://www.astuteanalytica.com/request-sample/organic-functional-dyes-market
The rising use of organic functional dyes due to their eco-friendly properties will primarily drive the growth of the market. Additionally, the global functional dyes market is expected to seize several opportunities in the coming years due to the wide applications of these dyes in the development of printing inks, paints, and coatings. Some of the renowned key players dealing in the global organic functional dyes market include Heubach Gmbh, BASF, Kiri, and Clariant, which hold a cumulative share of 23.2%. The market is witnessing monopolistic competition in nature, which is expected to change into an oligopoly during the study period as industry players are making innovative strategic moves to gain a competitive edge.
Global Organic Functional Dyes Market by Region
Europe's organic functional dyes market garnered the lead with the largest market share of 32% in 2021, owing to the rising demand for organic pigment from the pharmaceutical industry and growing knowledge about bio-based paints and coatings, combined with sustaining government laws. Recognizing the scope, industry players are fast expanding their reach through strategic steps in order to outgrow the market. For instance, Cathay Industries, a Belgium-based pigment manufacturer, acquired Hoover Color Corporation, a US-based pigment manufacturer, in June 2016 to get hold of the wider pigment customer base in the country.
The organic functional dyes market of Asia-Pacific will exhibit the highest CAGR of 9.9% due to the high production rate of organic dyes in India, China, and Japan. Additionally, rising construction activities led by growing urbanization in these countries will also present attractive prospects for market growth during the analysis period.
COVID-19 Impact Analysis
The COVID-19 pandemic led to a downturn in the growth graph of the organic functional dyes market as the rate of construction activities dramatically fell. Further, delays in the shipment of raw material prices and the significant decline in the demand for chemicals further hampered the organic functional dyes market growth.
Global Organic Functional Dyes Market Dynamics
Drivers:
Organic Functional dye applications are used in textile, electrophotography, optical data storage, LCDs, energy conversion, robotics, OLEDs, OFETs, thermal and ink-jet printing, electronic sensors, pH sensors, gas sensors, etc. The growing demand for organic functional dyes from these industries will fuel the growth of the market during the analysis period. Additionally, these dyes are growing in popularity due to the steadily declining cost of progressive printers. Further, the fact that consumers are willing to pay more for eco-friendly products will attract opportunities for market growth.
Browse Detailed Summary of Research Report: https://www.astuteanalytica.com/industry-report/organic-functional-dyes-market
Restraints:
The global organic functional dyes market is expected to confront obstacles due to price undercutting in order to compete with the organized sector and export market. This strategy results in companies outbidding each other and neglecting international competitors.
The rising cost of raw materials may limit the demand from end-users, thereby hampering the growth of the overall organic functional dyes market.
Opportunity:
Organic dyes are also ideal for health-related applications like illness detection, treatment, and in vivo imaging. Further, organic functional dyes feature optical properties like fluorescence, absorption band, photodynamic, and photothermal, which will bring ample growth opportunities for the market during the analysis period. Additionally, the organic functional dyes exhibit photophysical characteristics, which are ideal for building effective optical diagnostic reagents.
Trends:
Trends like growing demand for environmentally friendly printing inks, paint and coatings, and plastics will benefit the global organic functional dyes market.
Segmental Analysis of the Global Organic Functional Dyes Market
Based on Type, the chromic dyes segment garnered the highest share of 70% in 2021 and is expected to grow at the highest CAGR of 9.9% during the study period. The sub-segment of chromic dyes, photochromic dyes, will continue to lead due to the fact that they offer excellent stability, especially when kept away from light and heat.
Based on external energy, the light segment leads with the highest share of 28% in 2021, while the electric field segment is expected to grow at the highest CAGR of 10.3%. The growth of the light segment is attributable to the fact that organic dyes absorb light in a specific wavelength range and develop various colors.
Based on the Application, the textile segment stayed dominant in 2021 with a value of US$ 32.4 million due to the fact that functional dyes enable protection from UV radiation, microbes, insects, and moth. Meanwhile, moth and mosquito repellent dyes are expected to grow at the highest growth rate of 11.8% during the forecast period because these dyes provide protection against moths and mosquitos.
The global organic functional dyes market is segmented into following segments:
By Type
Chromic Dyes
o Photochromic
o Piezo chromic
o Electrochromic
o Others
Leuco Dyes
Fluorescent Dyes
Phosphorescent Dyes
Others
By External Energy
Heat
Light
Electric Field
Pressure
Chromophore
Other
By Application
Textile
o Medical Textile
o Non-Medical (Smart) Textiles
3D-Display
Electrophotography
Thermal and Ink-Jet Printing
Optical Data Storage
LCDs
OLEDs
OFETs
Energy Conversion
Robotics
Electronic Sensors
pH Sensors
Gas Sensors
Optical & Chemical Sensors
Molecular Scale Logic Devices
Photodynamic Therapy
Medical Diagnosis
Functional Lens
Imaging
Packaging
Thermo Regulation (Brand Forgery)
Surface Disinfectant (antimicrobial)
UV Protection Dye
Moth/ Mosquito Repellant Dyes
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
ASEAN
South Korea
Rest of Asia Pacific
Rest of the World
Middle East & Africa
South Africa
Looking For Customization: https://www.astuteanalytica.com/ask-for-customization/organic-functional-dyes-market
About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
+1 888-429-6757
email us here
Visit us on social media:
Twitter
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
