Dublin, Dec. 13, 2021 (GLOBE NEWSWIRE) -- The "Synthetic Dyes and Pigments Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
The global synthetic dyes and pigments market reached a value of nearly $53,946.4 million in 2020, having increased at a compound annual growth rate (CAGR) of 0.9% since 2015. The market is expected to grow from $53,946.4 million in 2020 to $58,613.2 million in 2021 at a compound annual growth rate (CAGR) of 8.7%. The market is then expected to grow at a CAGR of 4.8% from 2020 to reach $68,348.0 million in 2025. The global synthetic dyes and pigments market is expected to reach $80,990.7 million in 2030, at a CAGR of 3.5%.
Growth in the historic period resulted from rapid economic growth in emerging markets, government initiatives, reduced interest rates, global population growth and availability of wide range of synthetic dyes. Factors that negatively affected growth in the historic period were employee safety concerns, stringent regulations, ban on use of dyes and increase in pricing during COVID-19.
Going forward, rising demand for high performance pigments, high demand from end-user industries. and increasing demand from the packaging industry will drive growth. Factors that could hinder the growth of the synthetic dyes and pigments market in the future include fluctuating raw material costs, reduction in free trade, growing demand for natural dyes and pigments and outbreak of coronavirus disease (COVID-19).
The synthetic dyes and pigments market is segmented by type into synthetic pigments and synthetic dyes. The synthetic pigments market was the largest segment of the synthetic dyes and pigments market segmented by type, accounting for 66.6% of the total in 2020. Going forward, the synthetic dyes segment is expected to be the fastest growing segment in the synthetic dyes and pigments market segmented by type, at a CAGR of 5.5% during 2020-2025.
The synthetic dyes market is also segmented by end-user industry into textiles, food and beverages, paper, inks, leather and others. The textiles market was the largest end-user segment of the synthetic dyes market segmented by end-user industry, accounting for 64.6% of the total in 2020 and going forward, this segment is expected to be the fastest growing segment in the synthetic dyes market segmented by end-user industry, at a CAGR of 6.8% during 2020-2025.
Asia-Pacific was the largest region in the global synthetic dyes and pigments market, accounting for 32.3% of the total in 2020. It was followed by Western Europe, North America, and then the other regions. Going forward, the fastest-growing regions in the synthetic dyes and pigments market will be Africa, and the Middle East, where growth will be at CAGRs of 9.0% and 8.0% respectively. These will be followed by South America, and Eastern Europe where the markets are expected to grow at CAGRs of 7.5 and 5.3% respectively, during 2020-2025.
The synthetic dyes and pigments market is relatively fragmented, with a large number of small players. The top ten competitors in the market made up to 24.9% of the total market in 2020. Major players in the market include BASF SE, The Chemours Company, Tronox Holdings plc, Venator Materials PLC, Kronos Worldwide, Inc. and others.
The top opportunities in the synthetic dyes and pigments market segmented by type will arise in the synthetic pigments segment, which will gain $8,862.4 million of the global annual sales by 2025. The top opportunities in the synthetic dyes market segmented by type will arise in the disperse dyes segment, which will gain $1,809.2 million of the global annual sales by 2025.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider synthetic dyes and pigments market and compares it with other markets.
The report covers the following:
- Market Characteristics
- Supply Chain
- End-User Industry Analysis
- Product Analysis
- Customer Information
- Trends and Strategies
- COVID Impact
- Global Market Size and Growth
- Regional Analysis
- Segmentation
- Global Macro Comparison
- Regional Market Size and Growth
- Competitive Landscape
- Key Mergers and Acquisitions
- Market Background
- Opportunities and Strategies
- Conclusions and Recommendations
Companies Mentioned
- BASF SE
- The Chemours Company
- Tronox Holdings plc
- Venator Materials PLC
- Kronos Worldwide, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ygoxi2
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