The Business Research Company’s Synthetic Dye And Pigment Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LANDON, GREATER LANDON, UK, November 28, 2023 /EINPresswire.com/ — The global synthetic dye and pigment market experienced substantial growth, surging from $60.41 billion in 2022 to $65.66 billion in 2023, indicating a robust Compound Annual Growth Rate (CAGR) of 8.7%. Projections suggest further expansion, with the market anticipated to reach $89.65 billion by 2027, driven by an expected CAGR of 8.1%.

Packaging Industry Growth as a Prime Driver

The rapid expansion of the packaging industry is anticipated to be a primary catalyst propelling the synthetic dye and pigment market. This surge is attributed to heightened demand in various sectors, including toiletries, food and beverages, healthcare, particularly in emerging economies. Furthermore, the market is poised to benefit from the introduction of high-quality digital printing applications in flexible packaging and labeling. The increasing demand for digital printing, driven by the need for superior printing quality, is expected to boost the demand for packaging printing, thereby fostering the growth of the synthetic dye and pigment market.

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Key Players Shaping the Market Landscape

Major companies influencing the synthetic dye and pigment market include BASF SE, The Chemours Co, Tronox Inc., Kronos Worldwide Inc., DIC Corporation, Kao Corporation, Lanxess AG, Merck KGaA, Ferro Corp, and Sudarshan Chemical Industries Limited.

Shift Towards Natural Dyes Impacting Market Dynamics

Growing awareness of the adverse health effects associated with certain synthetic dyes has prompted a shift from chemical-based synthetic dyes to natural alternatives, impacting the market negatively. Manufacturers are increasingly transitioning to natural dyes to align with consumer preferences for environmentally friendly and new textile colors. The ban on the import of synthetic dyes, particularly azo dyes, in various developed and developing countries, adds to the challenges faced by synthetic dye manufacturers. The adoption of eco-friendly dyes by textile companies, such as DyStar, Huntsman, and Archroma, aims to mitigate environmental damage and health concerns.

Regional Dynamics and Market Segmentation

In 2022, Asia-Pacific emerged as the largest region in the synthetic dye and pigment market, with Western Europe securing the second-largest position. The market segments based on type include synthetic dye and synthetic pigment.

The global synthetic dye and pigment market is segmented –

1) By Type: Synthetic Dye, Synthetic Pigments

2) By Dye Type: Acid Dye, Reactive Dye, Disperse Dye, Basic Dye, VAT Dye, Other Dye Types

3) By Pigment Type: Organic, Inorganic

4) By Application: Textiles, Food and Beverages, Paints and Coatings, Cosmetics and Personal Care, Other Applications

Subsegments Covered: Disperse Dyes, Acid Dyes, Basic Dyes, Direct Dyes, VAT Dyes, Reactive Dyes, Other Dyes, Organic Pigments, Inorganic Pigments, Textile, Food & Beverages, Paper, Ink, Leather, Others, Paints & Coatings, Plastics, Printing Inks, Textile, Cosmetics & Personal Care, Others

To explore the complete report and gain strategic insights into the market:
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Synthetic Dye And Pigment Global Market Report 2023from TBRC covers the following information:

• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Synthetic Dye And Pigment Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on synthetic dye and pigment market size, synthetic dye and pigment market drivers and trends, synthetic dye and pigment market major players, synthetic dye and pigment market competitors’ revenues, synthetic dye and pigment market positioning, and synthetic dye and pigment market growth across geographies. The synthetic dye and pigment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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