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Dyes Market Size 2024 Forecasts On Regional Growth, Industry Players And Applications

Author : Ronak Bora | Published Date : 2019-05-29 

Global Dyes Market report 2024 focuses on the major Types and Applications for the key players. The market forecast report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The research report is a professional and in-depth study on the current state of global Industry.

Dyes Market size is forecast to experience gains exceeding 3% CAGR from 2016 to 2024. The industry growth is chiefly propelled by increasing product applications across various end user industries including paint & coatings, textiles, printing inks and food. Growing foods & beverages demand in BRIC nations will positively influence dyes market size owing to its widespread application for food processing. In addition, population growth along with rising disposable income and rapid urbanization in Middle East countries especially in Saudi Arabia is anticipated to promote food & beverage industry over the forecast timeframe, consequently propelling industry growth by 2024. Global food & beverage industry was valued at over USD 8.6 trillion in 2004 and surpassed USD 15.10 trillion in 2015, the growth was primarily backed by upgraded consumer lifestyle which results in increasing number of restaurants and cafes. Furthermore, new products launch by Nestle, Kraft Foods and Udi will further complement industry growth.

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Cosmetics is one of the important application of dyes market share. It is widely used in manufacturing a broad spectrum of colourful make up products including eye liners and lipsticks. Global cosmetic industry was valued at over USD155 billion in 2006 and marked more than USD 200 billion in 2015, with gains more than 3.5% over the same period. Increasing end user awareness regarding harmful side effects related with synthetic chemicals along with rising regulations directed by FDA for chemical use in cosmetic products may hamper industry growth.

Global dyes market share is significantly propelled by booming textiles industry across the globe. Improved living standard accompanied with increasing end user demand towards colourful fabrics, high quality curtains & bedsheets and woollen clothes, will boost industry growth in coming years. However, textile processing steps including dyeing contributes in environment pollution owing to its chemical constituents, this may negatively hamper dyes market size by 2024. In addition, stringent legislations from REACH may negatively influence industry growth over the forecast timeframe.

On the application basis the industry is segregated as paper & pulp, textiles/fabric, cosmetics, construction, paints & coatings, medicines and leather. Fabrics was the prominent share holder of the global dyes market size. With the technological advancements and digital photographs can be printed on the fabric, unlike conventional screen print photographs that blocks the fabric pores, this allows added fabric breathability absorb moisture, making it comfortable for the wearer. These technological advancements will upsurge product demand for printing fabrics owing to boost industry growth by 2024. Furthermore, the product finds extensive applications in construction sector for paints, cool roofing and concrete owing to boost business growth.

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Asia pacific dominated the global dyes market share in 2015. The regional growth was mainly propelled by growing end user industries including construction, fabrics, automotive, cosmetics. The region is likely to retain its global share by 2024. For instance, the region has largest construction industry mainly due to rapid industrialization along with growing population. China and India are the top dyes producer and consumer, which will consequently complement industry growth. Food & beverages in Singapore witnessed a double-digit growth of 15.6% owing to boost industry growth.

North America, mainly led by the U.S. dyes market is mainly propelled by robust growth in pharmaceuticals and upcoming construction spending for commercial and residential buildings, after 2008 economic downturn. In addition, Europe is anticipated to experience promising gains owing to booming cosmetic sector on account to enhanced consumer lifestyles.

Global dyes market share in competitive and key industry players are focussing on upscaling their production capacity. Clariant International, BASF, Kiri Industries, Cabot Corp, DuPont., ECKART, Huntsman Corporation, Kronos Worldwide, LANXESS, CRISTAL and Rockwood Holdings are some of the industry players contributing the global share.

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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