DELRAY
BEACH, Fla., Sept. 4,
2024 /PRNewswire/ -- The
report "Synthetic Dyes Market by Structure,
Form, Application, Fabric Type, Type (Acid; Disperse; Reactive;
Direct; Basic; Solvent), End-Use Industry (Textile; Leather; Pulp
& Paper; Building & Construction; Personal Care) - Global
Forecast to 2029" is Projected to Reach USD 9.1 billion by 2029, at a CAGR of 5.0% From
USD 7.1 billion in 2024.
The Synthetic Dyes market is driven by increasing demand for
sustainable dyes and technological advancements in manufacturing
processes. Technological advancements are significantly boosting
the efficiency and functionality of synthetic dyes. The innovation
in effective dyeing techniques has broadened the application of
synthetic dyes in various industries. Simultaneously, the strong
push of manufacturers towards sustainability is encouraging
manufacturers to invest in R&D to produce ecofriendly synthetic
dyes and reduce environmental impact. Additionally, the
growth and industrialization of emerging economies is increasing
the demand for synthetic dyes among various applications such as
textiles, packaging and consumer goods. The increase in the
industrial activity is rising the need for high performing and good
quality colors. Moreover, the evolving trends in fashion industry
is fueling the market for synthetic dyes by creating the need for
vibrant, diverse and long-lasting colors in clothing.
Browse in-depth TOC on "Synthetic Dyes Market"
250 – Tables
50 – Figures
212 –
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Textile is projected to be the fastest growing industry for
Synthetic Dyes, in terms of value, during the forecast
period.
Various factors such as population growth, rapid
industrialization, rising of disposable income and economic growth
is fueling the global demand for textiles. This rise in demand for
textiles is eventually driving the demand for synthetic dyes for
dyeing. The increased utilization of synthetic fibers such a s
polyester, nylon and acrylic due to their versality and cost
advantages has led to rise in the demand for disperse dyes which
have high functionality towards synthetic fibers. Additionally, the
push of consumer preference towards sustainability is encouraging
manufacturers to invest in R&D and innovate ecofriendly
synthetic dyes to reduce their environmental impact. Moreover, the
globalization trend is contributing to the expansion of synthetic
dyes market as dyes manufactured and used across various regions
are traded globally.
Powder dyes are the fastest growing form of Synthetic Dyes,
in terms of value.
Powder dyes are projected to be the fastest growing form of
synthetic dyes. These dyes provide cost effectiveness as compared
to liquid dyes offering significant cost cutting for manufacturing
and transportation. This provides an extra advantage to the
industries that require large quantities of dyes. These dyes also
have a longer life and offer ease of storage and use which
eventually reduces waste and increases their efficiency. Another
key benefit of using these dyes particularly for textile industry
is their versatility as they can be easily blended to make
desirable shades. Additionally, the rise of digital printing
technologies, which mainly relies on powder dyes is another factor
driving demand for these dyes for giving high quality output.
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Asia Pacific has the fastest
growing market for Synthetic Dyes market during the forecast
period, in terms of value.
Asia Pacific has experienced
significant industrialization and urbanization over the past few
decades, leading to economic growth. The rise in population
with increased consumer spending on textile products which is
apparently largest industry for synthetic dyes is leading to rapid
growth of the market. The presence of few major textile exporters
in the region along with the availability of cheap labor and low
manufacturing cost is further fueling the market. The advancements
being made in dye technologies such as adoption of ecofriendly dyes
and implementation of sustainable practices to comply with
environmental regulations is expanding the market for synthetic
dyes in the region. Additionally, the ongoing R&D in
digital textile printing is increasing the demand for synthetic
dyes offering greater customization and design precision. These
factors collectively, make the Asia
Pacific region largest consumer of synthetic dyes with
significant growth in upcoming years.
Mergers, new product launches and expansions are the major
growth strategies adopted by the key players in the market. The key
global players in the Synthetic Dyes market Archroma (Switzerland), Lanxess
(Germany), Zhejiang Longsheng Group Co., Ltd (Dystar)
(China), Heubach GmbH (Germany),
Kiri Industries (India), Atul Ltd
(India), Bodal Chemicals Ltd
(India), Chromascape (US), Henkel
AG & Co (Germany), Kemira Oyj (Finland), Milliken & Company (US), Solenis
LLC (US), Zhejiang Jihua Group (China) and Zhejiang Runtu Co., Ltd
(China).
Browse Adjacent Market: Specialty Chemicals Market
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