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.
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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.
Cosmetics is one of the important application of dyes market share. It is widely used in manufacturing a broad spectrum of colorful 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.
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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 focusing 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.
This latest Dyes Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across a number of regional markets. The report also analyzes the Dyes Market industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report “Dyes Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”. in detail along with the table of contents:
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Key Insights in this Report
- Dyes Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Dyes Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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