Global Synthetic Dyes Global Market
Dublin, May 16, 2022 (GLOBE NEWSWIRE) -- The "Synthetic Dyes Global Market Opportunities And Strategies To 2030, By Product Type, End User Industry" report has been added to ResearchAndMarkets.com's offering.
The synthetic dyes market reached a value of nearly $18,037.1 million in 2020, having increased at a compound annual growth rate (CAGR) of 0.03% since 2015. The market is expected to grow from $18,037.1 million in 2020 to $23,576.4 million in 2025 at a rate of 5.5%. The market is then expected to grow at a CAGR of 4.1% from 2025 and reach $28,883.0 million in 2030.
This report describes and explains the synthetic dyes market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.
Growth in the historic period resulted from emerging markets growth, government incentives, low interest rate environment, population growth, and wide range of synthetic dyes. Factors that hindered the growth of the synthetic dyes market during the historic period include safety concerns, regulatory challenges, ban on dyes, and increase in pricing during COVID-19.
Going forward, high demand from end-use industries, and increasing partnerships & alliances will drive the growth. Factors that could hinder the growth of the synthetic dyes market in the future include reduction in free trade, growing demand for natural dyes, and outbreak of COVID-19.
The synthetic dyes market is segmented by product type into acid dye, disperse dyes, reactive dyes, direct dyes, basic dyes, vat dyes, and other dyes. The acid dyes market was the largest segment of the synthetic dyes market segmented by product type, accounting for 22.6% of the total in 2020. Going forward, the VAT dyes market is expected to be the fastest growing segment in the synthetic dyes market segmented by product type, at a CAGR of 11.9% during 2020-2025.
The synthetic dyes market is segmented by end-use industry into textiles, food and beverages, paper, inks, leather, other industries. The textile was the largest segment of the synthetic dyes market segmented by end-use industry, accounting for 64.6% of the total in 2020. Going forward, the textile segment is expected to be the fastest growing segment in the synthetic dyes market segmented by end-use industry, at a CAGR of 6.8% during 2020-2025.
Asia Pacific was the largest region in the synthetic dyes market, accounting for 36.5% of the total in 2020. It was followed by Western Europe, and North America. Going forward, the fastest-growing regions in the synthetic dyes market will be Africa, and South America where growth will be at CAGRs of 10.3% and 9.4% respectively. These will be followed by Middle East, and Eastern Europe, where the markets are expected to grow at CAGRs of 8.3% and 5.5% respectively.
The COVID-19 outbreak had a significant impact on the synthetic dye market, as governments globally imposed lockdowns, and suspended domestic & international transportation services to contain the virus. Manufacturing and supply of various materials, including synthetic dye was affected as facilities were shut down and the movement of people and goods were restricted.
The disruptions in the supply of synthetic dyes impacted India's production, as the import of raw materials from China was restricted due to the COVID-19 outbreak. The majority of synthetic dye manufacturing units in India (Gujarat and Maharashtra) depend on the raw materials from China. For instance, 470 textile units in Tripura, India require 500 tons of synthetic dyes each month, disruption in the supply of synthetic dyes led them to look for alternatives such as natural dyes.
The global synthetic dyes is highly fragment, with a large number small players operating in the market. The top ten competitors in the market made up to 8.55% of the total market in 2020. Major players in the market include DyStar Singapore Pte Ltd, Huntsman International LLC, Sumitomo Chemical Co., Ltd., Zhejiang Jihua Group Co., Ltd., and Zhejiang Longsheng Group Co., Ltd.
The top opportunities in the synthetic dyes market segmented by product type will arise in the disperse dyes segment, which will gain $1,809.2 million of global annual sales by 2025. The top opportunities in segment by end-use industry will arise in the textiles segment, which will gain $4,555.6 million of global annual sales by 2025. The synthetic dyes market size will gain the most in the Indonesia at $575.8 million.
Market-trend-based strategies for the synthetic dyes industry include investing IOT technology, implementing big data analytics in their operations, investing in the latest products, development of eco-friendly dyes, investing R&D projects, merger and acquisition agreements with emerging companies. Player-adopted strategies in the synthetic dyes industry include establishment of new research and manufacturing facilities, new product launches, research & development of innovative or ecofriendly synthetic dyes.
To take advantage of the opportunities, the publisher recommends the synthetic dyes companies to focus on adoption of IoT technology, focus on eco-friendly dyes, high wet-fast disperse dyes, investment in R&D, expand operations in emerging markets, strategic collaborations, leverage e-commerce to maximize reach and revenues, offer competitive pricing, increase visibility through business websites and listing websites, leverage technology to maximize reach and to focus on fast-growing end-use industries.
Key Topics Covered:
1. Synthetic Dyes Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6.1. Segmentation By Geography
6.2. Segmentation By Product Type
6.3. Segmentation By End Use Industry
7. Synthetic Dye Market Characteristics
7.1. Market Definition
7.2. Market Segmentation By Product Type
7.2.1. Disperse Dyes
7.2.2. Acid Dyes
7.2.3. Basic Dyes
7.2.4. Direct Dyes
7.2.5. Vat Dyes
7.2.6. Reactive Dyes
7.2.7. Other Dyes
7.3. Market Segmentation By End Use Industry
7.3.2. Food And Beverages
7.3.6. Other Industries
8. Synthetic Dyes Market Trends And Strategies
8.1. Rising Adoption Of IoT
8.2. Big Data Analytics In Synthetic Dye Manufacturing
8.3. High Wet-Fast Disperse Dyes
8.4. Eco-Friendly Dyes
8.5. Rising Investment In R&D
8.6. Increasing Mergers and Acquisitions
8.7. Strict Regulation for Chemical Based Synthetic Dyes
9. Impact Of COVID-19 On The Synthetic Dyes Market
9.1. Impact On The Demand And Supply Chain In The Synthetic Dye Sector
9.2. Government Measures Supporting The Market
9.3. Impact On Synthetic Dye Companies
9.4. Future Outlook
10. Global Synthetic Dyes Market Size And Growth
10.1. Market Size
10.2. Historic Market Growth, 2015 - 2020, Value ($ Million)
10.2.1. Drivers Of The Market 2015 - 2020
10.2.2. Government Incentives
10.2.3. The synthetic dyes market growth is supported by government initiatives in the historic period.
10.2.4. Restraints On The Market 2015 - 2020
10.3. Forecast Market Growth, 2020 - 2025, 2030F, Value ($ Million)
10.3.1. Drivers Of The Market 2020 - 2025
10.3.2. Restraints On The Market 2020 - 2025
11. Global Synthetic Dyes Market Segmentation
11.1. Global Synthetic Dyes Market, Segmentation By Product Type, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.2. Global Synthetic Dyes Market, Segmentation By End Use Industry, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
12. Synthetic Dyes Market, Regional And Country Analysis
12.1. Global Synthetic Dyes Market, By Region, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
12.2. Global Synthetic Dyes Market, By Country, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
DyStar Singapore Pte Ltd.
Huntsman International LLC
Sumitomo Chemical Co., Ltd.
Zhejiang Jihua Group Co., Ltd.
Zhejiang Longsheng Group Co., Ltd.
Everlight Chemical Industrial Co.
Kyung-In Synthetic Corporation
Milliken & Company
Kiri Industries Limited
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