As we know, the primary usage of Dyes and Pigments is to provide desired colors to fabric materials and paints. There are certain differences between dyes and pigments. While dyes are soluble in water, pigments are first converted into a coarse powder after which they can be mixed with a dispersing agent and applied as desired. This difference in the nature of dyes and pigments leads to vastly different uses.
For instance, dyes are generally used in the paper and textile market, whereas pigments are more popular in industries like inks, plastics, and coloring paints.
As dyes and pigments find their application in almost every industry, the dyes and pigments market size reached 32.9 billion USD in 2020 as per a report published by Grand View Research Inc. From substances like vegetables and fruits to synthetic dyes and pigments, the product has seen many trends. This year too there are 5 emerging trends that I will discuss in this article.
Top 5 Trends in Dyes and Pigments Market:
1. Shifting production to a low-cost region:
Top dyes and pigments manufacturers are considering cost-cutting and thus they are shifting their production facilities to low production cost areas. Other than cost-cutting, such companies are shifting their facilities to deal with the stringent rules and regulations in regions such as Europe. The dyes and pigments manufacturers are shifting towards the Asia-Pacific region especially countries like China and India as their regulations and labor costs both are less.
2. Increasing demand for high-performance dyes and pigments:
As per a report published by Grand View Research Inc. the growth rate of the dyes and pigments industry in the coming years will be 5.1%. This demand percentage is due to the push generated by changes in lifestyle and high customer expectations. The high-performance dyes and pigments show exceptional chemical and physical properties. They are highly durable and UV, radiation, heat, and chemical corrosion resistant. Additionally, such pigments exhibit characteristics such as luminescence and thermochromism.
3. Consumers love organic dyes and pigments:
In the past few decades, consumers have become smarter than ever. They have started picking goods based on their contents and ingredients. Among these consumers are becoming more aware of environment-friendly products; they are demanding organic products which are non-hazardous. In addition to strict guidelines imposed by the governments, dyes and pigments manufacturers are actually opting for organic compounds over chemical hazardous compounds.
4. Rise in product portfolio:
Since pigment dye is difficult to differentiate, it can be easily duplicated by local brands which can be challenging for the top players. To deal with such challenges smartly, dyes and pigments manufacturers are offering integrated end-to-end and industry-specific solutions. This includes consultations for color selections, logistic support, technical advisory, customization of colors, and even extended warranties. Such methods help the buyers in reducing the cost and complexities associated with dyes and pigments.
5. Greater investments in research and development:
The dyes and pigments suppliers are increasing their investment in research and development activities. All this along with technological innovations will develop products with enhanced chemical and physical characteristics. Some of the manufacturers are researching how to create dyes and pigments that have high color fastness and greater temperature resistance.
Dyes and Pigments Market Study:
- Talking about the revenue, Asia Pacific led the dyes and pigments market worldwide. It is hence expected to grow at a CAGR of 5.8% from 2021-2028.
- The rise in demand for the product from the end-use industries is expected to drive the APAC region.
- The dyes market is expected to be the fastest-growing as well as the largest market over the forecast period.
- The increase in usage of pigments in industries such as automotive and marine is expected to support the growth of the paints and coatings segment.
Final Words:
The dyes and pigments world is as vast as the number of colors. Their application is also very vast and therefore if you are in the industry, it’s time you start following these trends for a profitable business.
With this, we come towards the end of our blog. Do let me know your suggestions and queries in the comment section below.
Author bio:
Toshina Singh
Toshina is a writer at Grand View Research, Inc. holding expertise in writing various content. Her main focus is to come up with blogs that can help readers enhance their technical knowledge.
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