New York, NY, Dec. 12, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Colorants Market by Type (Dyes, Pigments, Masterbatches, and Color Concentrates) and by End-Use Industry (Packaging, Building & Construction, Automotive, Textiles, and Paper & Printing): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, the global colorants market was valued at approximately USD 49.82 billion in 2017 and is expected to generate revenue of around USD 70.11 billion by 2024, growing at a CAGR of around 5.0% between 2018 and 2024.
The flourishing building and construction activities globally are expected to drive the global colorants market growth over the forecast timeframe. The construction industry uses products that offer high performance in many areas along with being corrosion- and weather-resistant, durable, safe, heat stable, environment-friendly, and cost-effective. Dye and pigment colorant solutions are used to meet these needs. Organic and inorganic pigments are used in many applications, such as recycled products, wood stains, industrial coatings, adhesives, construction sites, dust-abatement tackifiers and polymers, foam and fiberglass insulation, and polishing compounds. Furthermore, the growing housing activities indicate the level of construction activity. As more homes are built, the demand for modern and innovative construction materials increases that are anticipated to the drive colorants market in the future.
Browse through 112 Tables & 26 Figures spread over 110 Pages and in-depth TOC on “Global Colorants Market Size & Share 2017: Industry Type, Growth, Trends and Forecast to 2024”.
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The construction sector and construction activities are major sources of development, economic growth, and economic activities. Construction and engineering services play a major role in economic growth and development. Increasing demand for paints and coatings coupled with growing construction activities globally is expected to drive the colorants market growth during the estimated timeline. Rising spending on homes for renovations, home improvements, and remodeling is expected to positively impact this market in the upcoming years.
By type, the colorants market is segmented into dyes, pigments, masterbatches, and color concentrates. Pigments are expected to witness significant growth over the forecast timeframe, due to the rising demand for pigments in paints and coatings applications for building and construction and automotive industries. The use of pigments is also increasing in printing textiles due to the growing trends in the fashion industry, which, in turn, is expected to positively impact this market.
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By end-use industry, the colorants market has been segmented into packaging, building & construction, automotive, textiles, and paper & printing. Packaging accounted for the highest revenue share in 2017, due to the increasing use of colorants for coloring plastics for packing various products. Colorants enhance the products’ visual and aesthetic appeal. Pigments, color concentrates, and masterbatches are widely used in plastics, which are expected to positively impact the market in the future.
The European colorants market accounted for a major revenue share in 2017. Increasing demand for naturally extracted color additives and favorable government legislation encouraging the product use across various industries are likely to increase the demand for colorants in personal care, food, and textiles in the forthcoming years. EUROCONSTRUCT (EC-19), an association of 19 European member states, anticipated the construction output in the region to increase by 9% between 2014 and 2018.
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The North American colorants market is expected to witness substantial growth in the future. Increasing construction activities and growing demand for colorants for paints and coatings in the region is the major factor likely to drive the colorants market growth in the forecast span. Moreover, the rising demand for architectural coatings and printing inks in North America would further fuel this market in the upcoming years.
The Asia Pacific colorants market is projected to grow at the highest rate of growth over the forecast time period. Japan, India, and China are likely to emerge as major market contributors, due to the increasing investments made in infrastructural projects. Infrastructure investments in the Asia Pacific are likely to increase the region’s economic outlook. Both residential and non-residential construction sectors are likely to witness double-digit growth rate over the forecast timeframe, which, in turn, will drive the colorants market in this region.
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Latin America and the Middle East and Africa are expected to witness lucrative growth in the global colorants market in the forthcoming years, due to the increasing investments made in the construction sector in both the regions, which is likely to positively impact the colorants market during the estimated timeline.
Some key players operating in the global colorants market include Pylam Products, Sethness Products Company, Jagson Colorchem Limited, Teknor Apex Company, PolyOne, Sensient Technologies Corporation, GNT Group San-Ei Gen F.F.I., Inc., Lanxess AG, Penn Color, Chr. Hansen Holding, Clariant International, DD Williamson, Symrise AG, T.H. Glennon, and ROHA JTT Group, among others.
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This report segments the global colorants market as follows:
Global Colorants Market: Type Segment Analysis
- Dyes
- Pigments
- Masterbatches
- Color Concentrates
Global Colorants Market: End-Use Industry Segment Analysis
- Packaging
- Building & Construction
- Automotive
- Textiles
- Paper & Printing
Global Colorants Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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