According to the new market research report “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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The textile dyes market is projected to grow from USD 8.2 billion in 2019 to USD 10.9 billion by 2024, at a CAGR of 5.9%, between 2019 and 2024. APAC is the largest consumer of textile dyes. Low-cost of manufacturing in APAC countries and high demand for textile dyes in the region are driving the demand for textile dyes globally.
Waterless dyeing technology is expected to tackle the major restraint faced by the textile industry. In the textile industry, 100–150 liters of water is needed per kilogram of textile dyes in various processes, which includes scouring, washing, bleaching, and dyeing. Thus, the separation of dye chemicals and processed water is a real challenge for the textile dyeing industry globally. The wastage of water and its pollution can be avoided with the help of waterless dyeing methods. With low viscosities and diffusion properties, this method can lead to a shorter dyeing time than with water. Unlike water dyeing, the dyeing, extraction of spinning oils, and removal of excess dye can all be carried out in a single plant in the carbon dioxide dyeing process. This method involves only changing temperature and pressure conditions. Moreover, drying is not required as at the end of the process, CO2 is released in the gaseous state. This CO2 can be recycled easily with up to 90% retained after precipitation of the extracted matter in a separator. This technology is expected to change the business landscape of the textile dyes industry in the coming future.
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The textile dyes market is projected to grow from USD 8.2 billion in 2019 to USD 10.9 billion by 2024, at a CAGR of 5.9% between 2019 and 2024. APAC is the largest consumer of textile dyes. Low-cost of manufacturing in APAC countries and high demand for textile dyes in APAC are the major factors driving the market.
The key market players are the Huntsman Corporation (US), Kiri Industries (India), Zhejiang Longsheng Group Co., Ltd. (China), LANXESS AG (Germany), and Archroma Management LLC (Switzerland). These players have adopted various strategies, such as new product launch and merger & acquisition between 2015 and 2019, to enhance their market shares and expand their global presence.
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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.
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.
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