According to a new market research report the “Textile Dyes Market by Dye Type (Direct, Reactive, VAT, Basic, Acid, and Disperse), Fiber Type (Wool, Nylon, Cotton, Viscose, Polyester, and Acrylic), and Region (APAC, Europe, and North America) – Global Forecast to 2024″, The market is projected to reach USD 10.9 billion by 2024 at a CAGR of 5.9% during the forecast period. Low-cost of manufacturing in counties in APAC such as China and high demand for textile dyes in APAC are the key factors driving the demand for textile dyes.
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This report also provides a comprehensive analysis of the companies listed below:
- Huntsman Corporation (US)
- Kiri Industries (India)
- Zhejiang Longsheng Group Co., Ltd. (China)
- LANXESS AG (Germany)
- Archroma Management LLC (Switzerland)
The market is witnessing a high growth due to the growing use of textile dyes. Low-cost of manufacturing in APAC countries and high demand for textile dyes in the region are driving the global textile dyes market.
Huntsman Corporation (US) is the leading manufacturer and supplier of differentiated organic and inorganic chemical products, globally. These products are used in a wide range of applications such as coatings, printing inks, textile, food, personal care, and cosmetics. The company operates through four business segments: polyurethanes, performance products, advanced materials, and textile effects. Under the textile effects segment, the company produces and sells textile dyes, textile chemicals, and digital inks to the textile industry. The segment accounted for 9% of the overall organizational revenue in 2018. In August 2015, Huntsman introduced 210 unique textile dye formulations for its range named PANTONE FASHION, HOME + INTERIORS. This collaboration between Huntsman (a global leader in textile dyes) and Pantone (a leading provider of the color system) is expected to help the textile industry produce eco-friendly home furnishings, and fashion and interior design products.
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Archroma Management LLC (Switzerland), which was founded in 2013, is one of the leading producers of specialty chemicals and colors. The company operates its business under three main segments, namely, textile specialties, paper solutions, and emulsion products. The company offers color solutions for a variety of applications, including textile, paper, paints, and coatings. The company has been a leading adapter of mergers & acquisitions. For instance, in September 2017, Archroma announced the acquisition of additional 26% shares (of which 49% was acquired in 2014) of M. Dohmen (Germany), a multinational group specializing in the production of textile dyes and chemicals. Moreover, in July 2015, Archroma acquired the textile chemicals business of BASF. This acquisition has helped Archroma acquire a leading position as the supplier of chemical dyes to the global textile industry.
Disperse is the largest dye type segment in the textile dyes market
Disperse dyes is estimated to be the largest dye type in the global textile dyes market. These dyes are used to dye synthetic hydrophobic fibers. Moreover, they are also used on polyester and acetate fibers. The companies such as Jiangsu Zhejiang Chemical Co. (China) has a dedicated R&D center for the development of various types of disperse dyes. APAC contributes more than 50% to the global disperse dyes market.
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Viscose is the fastest-growing fiber type in the textile dyes market.
Viscose fiber was the first commercially produced synthetic fiber. It is a regenerated fiber as the cellulose obtained from softwoods is converted to a liquid compound, pressed through minuscule holes in spinnerets, and then converted back to cellulose in the form of fiber. The market of viscose is growing as this fiber has properties similar to cotton and can also be manufactured to resemble silk. Moreover, viscose fiber can be produced in multi-stranded versions that integrate metallic threads and also in the form of novelty fibers.
APAC is expected to account for the largest market share during the forecast period.
With economic contraction and saturation in Europe and North America, textile manufacturers are shifting their production base to APAC. China is one of the leading producers and consumers of textile dyes in the region. The strengthening economy of countries such as China and India is attracting new investments in APAC. In addition, the growing demand and policies regarding the use of environment-friendly and low-VOC products have led to innovation in the APAC textile dyes market.
