Newark, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The global acid orange market is expected to grow from USD 148.92 million in 2020 to USD 302.07 million by 2028, at a CAGR of 8.49% during the forecast period 2021-2028. The substantial growth of the textile industry in emerging economies is one of the factors affecting the demand of the market.
The Brainy Insights launched a study titled “Acid Orange Market Size by Color Index Number (Acid Orange 3, Acid Orange 7, Acid Orange 10, Acid Orange 24, Acid Orange 67, Acid Orange 74, Acid Orange 80, Acid Orange 86), Solubility (Soluble in Water, Insoluble in Ethanol), Packaging, End User, Region, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028”
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Base Year | 2020 |
| Market Size in 2021 | USD 148.92 million |
| Market Size in 2028 | USD 302.07 million |
| CAGR | 8.49% |
| No. of Pages in Report | 232 |
| Segments Covered | color index number, solubility, packaging, end user and regions |
| Drivers |
|
| Opportunities | Increasing Application in cosmetics product |
| Restraints | The stringent regulations and policies |
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Acid Orange 7 segment dominated the market with the highest market share of 18.7 % in 2020
The colour index number segment is divided into Acid Orange 3, Acid Orange 10, Acid Orange 24, Acid Orange 67, Acid Orange 7, Acid Orange 74, Acid Orange 80, Acid Orange 86 and others. As of 2020, Acid Orange 7 is the leading colour index number segment of the global acid orange with 18.7%. This segment seems to register the fastest growth with the highest CAGR during the forecast period. This is due to the fact that it is widely used in the textile industry and with the growing awareness, there is an increase in demand by cosmetic and personal care product manufacturing company, to use it as a colouring agent.
Soluble In Water segment dominated the market with the highest market value of USD 96.56 Million in 2020
The solubility segment includes soluble in water and insoluble in ethanol. Acid orange dyes are highly soluble in water and have better lightfastness than basic dyes. So, the water-soluble acid orange segment has shown the highest market value of USD 96.56 Million in 2020.
HDPE drums segment dominated the market with the highest market share of 48.17% in 2020
The packaging segment includes HDPE bags, HDPE drums and Carton boxes. HDPE drums are accounted for the highest market share in 2020, which is 48.17%. It will continue to lead with a significant CAGR during the forecast period.
Textile segment dominated the market with the market value of USD 92.6 Million in 2020
The end-user segment includes cosmetics, hair dying agents, inks, textiles, medical, food & beverages and others. The textile application segment is projected to attain the highest acid orange market value of USD 92.6 Million in 2020. The acid orange dyes are used in the textile industry to impart various colours. Acid orange dyes often display better colour fastness compared to conventional dyes due to their superior bonding resulting in improved durability.
Regional Segmentation Analysis:
The regions analyzed for the Acid orange market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Asia Pacific region emerged as the largest market for the Acid Orange market, with a market value of USD 67.56 million in 2020.the rise in the production of silk in the emerging economies like India and China will drive the manufacturing of acid dyes and, which in turn will drive the acid orange dye in the forecasting period. Both Europe and North America held the significant market shares followed by APAC in 2020, taking 2nd and 3rd position in this market.
Competitive Analysis:
The major players ofmarketincludeSigma-Aldrich Corporation, Vinayak Ingredients Pvt. Ltd., Megha International, Shramik Chemicals, Krishna Dyestuff Company, Asim Products, Ciech S.A., Merck KGaA, Mayur Dye Chem, Tokyo Chemical Industry Co., Ltd., Nitin Dye ChemPvt. Ltd., Sterling Pigments & Chemicals, Aeromax Industries and Magnil Dye Chem., among others.
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About the report:
The market is analyzed based on value (USD Billion) and volume (k units). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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