The Global Colorants market is forecasted to grow at a rate of 4.9% from USD 55.33 billion in 2019 to USD 78.99 billion in 2027. The boost in the preference of environment-friendly dyes in western countries since rising concern towards good health is one of the major factors for an increase in the demand for Colorants markets globally.
Along with this factor, textile printing is considered to be a significant growing chance for colorants manufacturers. Increasing disposable income combined with consumer spending on packaged food products and fashionable garments is expected to propel colorant demand over the forecast period. Increasing demand from various end-use industry such as plastic, paints coatings, automotive, and packaging drive the market. Rising use of colorants for coloring plastics is driving the colorants market. Moreover, the growing importance of aesthetics in the packaging industry is another driver fuelling the growth of the colorants market.
Top Companies Operating in the Global Colorants Market:
Cabot Corporation, BASF SE, LANXESS AG, Huntsman Corporation, DIC Corporation, Sun Chemical Corporation, Clariant AG, Flint Group, PolyOne Corporation, E. I. du Pont de Nemours Company.
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Restrictions on the trade of artificial colorants act as restrain to market growth. Excessive supply of dyes leads to decreased prices also restraints the market. Natural colorants are predicted to gain importance due to ecofriendly and increased environmental awareness to avoid some hazardous synthetic dyes.
Europe constitutes a one-third share of this market. North America is the second-largest colorant market and will show steady growth during the forecast. The Asia Pacific is forecasted as fastest-growing over the next decade.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of "in silico" simulations. Companies' existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and work sites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
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Colorants Market Segmentation
Form Outlook (Revenue, USD Billion; 2017-2027)
- Color Concentrates
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Building Construction
- Paper Printing
Source Outlook (Revenue, USD Billion; 2017-2027)
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Colorants market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Colorants market.
The global Colorants market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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