The global Colorants Market size is expected to reach USD 37.49 billion by 2025, at a registering a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising consumer demand for dyestuffs in various end-use segments such as plastics, textiles, food, and paints & coating is anticipated to act as a major growth factor for the global market over the next few years.
Growing population, increasing disposable income
coupled with consumer spending on packaged food products, and fashionable
garments are estimated to drive product demand over the forecast period.
Increasing awareness of environment-friendly features and the health benefits
of natural colorants coupled with favorable government regulations towards
eco-friendly initiatives are anticipated to remain a key factor for the growth
of the natural ingredients market over the next nine years.
Paints & coatings sector is expected to appear
as the fastest-growing application segment and is estimated to exceed USD 10
billion by 2025. Rising pigment and dye demand coupled with growing investment
in advanced technologies used for the production of colorants are major factors
contributing towards significant product demand in paints and coatings sector.
Caramel colors used in foods and beverages,
including batter, buns, brown bread, chocolate, cookies, spirits, cough drops,
and liquor such as beer, brandy, whiskey, and rum, are expected to remain the
leading product category in food segment over the forecast period. The segment
is estimated to reach a net worth exceeding USD 47.9 million by 2025.
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Further key findings from the report suggest:
- Textile segment emerged as the leading application category and
accounted for over 30% of the total demand in 2015. Disperse dyes
dominated the product category with a total market of over 125 kilo tons
in the textile application sector in 2015.
- Plastic application is anticipated to experience steady growth, with
a CAGR of 2.7% over the next nine years. Titanium dioxide pigment emerged
as the dominant plastic colorant accounting for over 36% of revenue share
in 2015.
- Printing application is the second fastest-growing sector with a
demand of over 140 kilo tons in 2015
- Europe emerged as the dominant region and was valued over USD 8.7
billion in 2015, Germany is the leading market for dyes & pigments in
overall Europe region is anticipated to grow at a CAGR of over 4% over the
forecast period.
- Asia Pacific is anticipated to experience the fastest growth over
the next decade. Colorants demand in the region was estimated at over 450
kilo tons in 2015 with China being the dominant consumer over the past few
years.
- Major players including Chr. Hansen Holding A/S, BASF, Huntsman,
Pidilite, Sensient Technologies, Jagson Colorchem, PolyOne, Penn Color,
Clariant, and Lanxess dominated the global colorant market in 2015
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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