Dyes Market to Set Phenomenal Growth by 2024

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Dyes Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2024

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Dyes Market Snapshot

• Dyes are colored substances applied in the form
  of an aqueous solution on various substrates.
  These are used as colorants in different
  industrial applications such as food processing,
  printing inks, wood stain, textile processing,
  and others.
• Dyes have high selective absorptivity for liquids
  as well as substrates as compared to other
  color-imparting materials such as pigments.
• Excellent absorption characteristics of dyes
  enable them to lose their physical and structural
  properties during their application on
  substrates. Low resistance to light and reduced
  shelf life are some of the other distinct
  features of dyes.

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• The global market for dyes has been witnessing
  significant growth due to rising demand from
  end-user industries such as food, textile,
  printing inks, and paints coatings.
• Developing economies such as China, India,
  Brazil, and Indonesia are likely to play a
  substantial role in boosting consumption of dyes
  in the next few years.
• India and Indonesia are gradually taking the
  lead in manufacturing dyes due to availability of
  raw materials as well as various organic
  intermediate chemicals.
• Countries in ASEAN such as Indonesia, Vietnam,
  and Singapore are expected to be emerging markets
  owing to development of key end-users such as
  paints coatings and food processing

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Dyes Market Driving Factor

• Trends have changed during the past 10 years due
  to several factors such as lower cost of
  production in Asia Pacific as well as rising
  prominence of the region, which acts as the hub
  for end-user industries such as textile, food,
  and paints coatings.
• This shift in production trends from the West to
  East has caused the global market for dyes to
  become concentrated, particularly in Asia
  Pacific.
• This, in turn, has resulted in intense
  competition in the market. 

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 Some of the key players in this market 

• BASF SE
• KRONOS Worldwide Inc.
• Haining Tongyuan Chemical Factory
• Lanxess, Rockwood Holdings, Inc.,
• Tokai Carbon Co., Ltd. 

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