The textile colorant market size is expected to reach over US$ XX billion by 2028. The textile colorant market is witnessing high growth in the past and the same growth is expecting in the forecast period due to the latest technological applications which are eco-friendly. Alchemy Research and Analytics LLP provided this information in a recently published report, titled, “Textile Colorant Market Size, Share & COVID-19 Impact Analysis, By Dye Type (Reactive dye, acid dye, direct dye, disperse dye, basic dye, and Others), By Application (apparel, household, technical textile, automotive and accessories) By Product form (powder, granules, paste, and liquid), By Fiber Type (Synthetic, wool, cotton, Polyester, Natural fiber, Nylon, acrylic, acetate, and others), and By Region(Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa), and Regional forecast,2020-2028.” The textile colorant market report further mentions that the market size stood at US$ XX billion in 2019, and it is likely to exhibit a CAGR of 6.7% during the forecast period 2020 to 2028.
The Increased prevalence of Textile Colorant
The increasing prevalence of textile colorant due to the rise in disposable income, rising textile production market & its coloring applications are the key factors for the textile colorant market growth. The eco-friendly application in recent times with advanced technology is another factor for the growth of the market. Also, the dyes and pigments are the natural and synthetic colorants, which provide color, hiding power, and specific physical attributes to a final product. Color may also add corrosion resistance and durability to products which also gives a boost to the textile market growth.
Rising demand from emerging economies
The demand is increasing for the textile colorant market in developing economies such as Brazil, India, China, Indonesia, Bangladesh, and others due to urbanization and the rise in population. Therefore, the textile colorant consumption is expected to increase in the aforementioned developing economies. The textile colorant market is also fragmented in emerging economies due to low labor costs and adequate infrastructure.
Alchemy Research and Analytics LLP had taken the impact of the ongoing COVID-19 pandemic on the textile colorant market for the year 2020 and 2021. As per our extensive secondary and primary research, the demand for textile colorant industries has decreased in the COVID-19 period owing to a decrease in the demand for cloth. COVID-19 will affect the textile industry in the year 2021.
Key Manufacturers Aim to Enhance Their Portfolios by Partnerships
According to Alchemy Research and Analytics major market players in the textile colorant market are focusing on strategies such as partnerships, collaboration, acquisitions, and mergers to enhance their geographic presence as well as product portfolio. The textile colorant market is highly fragmented.
Alchemy Market Research lists out the names of key market players in the textile colorant market. They are as follows:
- Dow Chemical
- Berkshire Hathawy(Lubrizol Corporation)
- Abitec Corporation
- Buckman Laboratories
- KC Chemical
- K-Tech (India)
- N.Chemical Industries
- Omnova Solutions
- Chemipol(Kothari Group)
- Dainichiseika Color and Chemicals Mfg
- Formosa Organic Chemical Industry
A Significant Industry Development-
- For Instance: Huntsman Textile Effects’ next-generation ERIOPON E3-SAVE textile auxiliary was engineered to address challenges such as resource-intensive, time-consuming, and costly. It eliminates the need for separate pre-scouring, allowing pre-scouring, dyeing, and reduction clearing to be combined in a single bath. Mills that are using ERIOPON E3-SAVE can thus dramatically shorten the polyester dyeing process and save water, energy, and cost.
Further Report Findings-
- In the textile colorant market, Asia-Pacific is witnessing high growth due to the substantial increase in production facilities on the back of various government initiatives in the region. Moreover, In Asia-Pacific countries, China remains the largest consumer due to its high demand for textile colorants.
- The demand for textile colorants is decreasing in some economies such as Japan, the U.S., and European Union due to strict environmental norms and regulations while some economies such as MEA and Latin America are showing a noticeable consumption of textile colorants in the forecast period.
- Based on the application segment, the textile colorant market is segmented into apparel, household, technical textile, automotive, and accessories. The apparel segment is expected to highly grow in the forecast period with a high value of share followed by household segment. Based on product form liquid form had more than 30% share in the year 2019 and is expected to grow significantly in the forecast period.