Dyes And Organic Pigments Market To Hit $30bn in 2019

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July 30th, 2015
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9:00 AM

Worldwide demand for dyes and organic pigments is expected to grow at a healthy pace, increasing to more than $30 billion in 2019. And textile production in Asia is a driving force.

Worldwide demand for dyes and organic pigments is expected to grow at a healthy pace, increasing to more than $30 billion in 2019. And, textiles are the main driver.According to a recent report, the textile market accounted for more than half of world dye and organic pigment demand in 2014, and will be the primary factor in up-ing demand moving forward. Dye and organic pigment consumption will remain concentrated in the Asia Pacific region, where the majority of world textiles and are manufactured. The report predicts China will remain the dominant consumer of dyes, with more rapid growth expected in the smaller Asian markets such as Bangladesh, India, and Vietnam.The shift comes as textile producers seek out the lowest cost options. In addition, consumer preferences for new, unusual colors that don't fade, and yet are environmentally friendly, will boost growth in demand as textile producers increasingly turn to newer, higher value products.And expansion of the middle class, particularly in the Asia Pacific and Africa-Mideast regions, is another acceleration in global consumer spending.“The fastest growth in dye and organic pigment demand will be in paints and coatings applications, driven primarily by strong advances in construction expenditures in North America and continued growth in the Asia/Pacific region," says Nick Cunningham, analyst at Freedonia."While the outlook for many organic colorant applications remains healthy, more moderate advances in printing inks, due principally to the growing publication of information in electronic form, will restrain overall dye and pigment demand. Opportunities will exist, though, for dyes and organic pigments that can be used in digital inks,” added the release.