PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250711
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250711
According to Stratistics MRC, the Global Textile Dyes Market is accounted for $11.40 billion in 2022 and is expected to reach $16.73 billion by 2028 growing at a CAGR of 6.6% during the forecast period. While colouring textile items including fibres, yarns, and fabrics, textile dyes are employed. The market will be driven by consumer preferences for natural dyes, an increase in the demand for coloured fabrics and fibres, and substantial investment in plant-based dye research and development.
According to the report by the Organization for Economic Co-operation and Development, household expenditure in China has increased from 3,334.045 billion in 2007 to 9,809.086 billion in 2018.
Increasing consumer spending
As a result of high economic growth and rising disposable income, there is a spike in domestic demand for textiles, which will support the expansion of the textile dye market during the forecast period. Moreover, wealthy and aspiration households encouraged domestic consumption across the globe. Customers have increased their expenditure on fashion, personal care, and financial services during the past ten years, demonstrating a trend of attention being paid to one's appearance.
Dearth of universal directives
The lack of global regulations governing the use of textile dyes is anticipated to constrain the market over the coming years. Regarding the usage of textile dyes, each nation has its own regulations and laws. Businesses find it challenging to comply with these national mandates and laws. This could deter investment from the textile dyes business, which would hurt the market. Over the projection period, it is anticipated that a shortage of knowledge and a low acceptance of textile dyes in several developed and undeveloped nations will limit market growth.
Growing demand in the garment industry
The style, fashions, and global networking of the clothing sector have all seen numerous revolutionary changes in recent years. Throughout the projected period, increased disposable cash and rising household expenditure in emerging economies are anticipated to fuel market expansion. Also, an increasing number of shops around the world are helping to meet the increased demand for clothing, which is in turn boosting the need for textile dyes. Natural dyes are being used more frequently in textile applications due to rising consumer demand for ecologically friendly products, which has increased dye sales. The textile sector has expanded significantly in recent years, and as fashion trends change, new opportunities are being sought by the apparel industry.
Stringent government regulations
The main issues in the textile dyes market that have been identified as having the potential to impede market expansion in the coming years are the environmental impact of dyes and strict government regulations. Certain dyes have different environmental effects, and the governments of different nations have enacted different rules regarding residue in waterways, air pollution, as well as other issues. For instance, the Indian government has outlawed several azo dyes because they are thought to be cancerous and contain dangerous substances like formaldehyde and specific metals.
The COVID pandemic caused lockdowns as well as other restrictions to be implemented by governments all around the world, which halted the production of garments and apparel. There were consequently fewer options on the market, which reduced the production of apparel and clothing and consequently reduced sales of clothing-related products. The need for dyes in the textile sector dropped as a consequence of a decrease in the production of clothing and apparel since dyes are needed to give clothes colour.
The Polyester segment is expected to be the largest during the forecast period
The Polyester segment is estimated to have a lucrative growth, due to its many qualities, including being both strong and lightweight, quick to dry, highly durable, and resistant to shrinking, stretching, wrinkling, and abrasions. The most popular applications for polyester are sporting, apparel, footwear, and bedding items including blankets, duvet covers, sleeping bags, etc.
The Clothing and Apparel segment is expected to have the highest CAGR during the forecast period
The Clothing and Apparel segment is anticipated to witness the fastest CAGR growth during the forecast period, due to rapid urbanisation, the emergence of e-commerce platforms offering goods made of eco-friendly materials like recycled polyester, the rise of at leisure, and the trend towards size-inclusive fashion are all contributing factors. Hence, these changes have caused a change in how individuals dress and a greater use of clothing.
Asia Pacific is projected to hold the largest market share during the forecast period owing to its well-established textile industry and the presence of key textile-producing nations like China and India. Also, the market for textile dyes is anticipated to benefit from the region's developing manufacturing sector, rapid urbanisation, and better economic conditions in a number of the region's nations. The market has grown as a result of the rise in customer demands for textiles used in a variety of industries, including clothing manufacturing, home textiles, and industrial/technical textiles.
North America is projected to have the highest CAGR over the forecast period, owing to established automobile sector in this region. Increasing environmental laws during the manufacturing of synthetic fibers are likely to impede the market's expansion in the area. The market for textile dyes is also growing as a result of lower manufacturing costs brought on by cheaper labour and raw materials.
Some of the key players profiled in the Textile Dyes Market include Atul Ltd., Huntsman Corporation, Alchemie technology, Jay Chemical Industries Limited, Avocet Dye & Chemical Co. Ltd., Sumitomo Chemical Co., Ltd., Lanxess AG, Organic Dyes and Pigments LlC, Archroma, Everlight Chemical, Anand International, Aarti Industries Ltd, Kiri Industries, Bodal Chemical and Jihua Group.
In March 2022, Atul Ltd. Expanded its sulfur black manufacturing facility to enhance its production of liquid and powder formulations. The company offers a wide range of vat, reactive, disperse, acid and direct dyes for use across various industries.
In April 2020, Alchemie technology, a UK-based manufacturer of unique digital materials fabrication technologies, launched Alchemie Endeavour, a waterless smart dying technology. This waterless smart dying uses advanced digital manufacturing technology to achieve a breakthrough in cost structure, supply chain capability, and fabric colouration for sustainability. Endeavour employs advanced digital colourant application and fixation technology to provide fabrics with single pass roll-to-roll solid colours.
In September 2019 Huntsman introduced a new product HIGH IQ Cool Comfort. With this launch, the company extended its HIGH IQ series.
Fiber Types Covered:
Types Covered:
End Users Covered:
Regions Covered:
All the customers of this report will be entitled to receive one of the following free customization options: