There is intense competition in the global dyestuff market. Manufacturers in the global dyestuff market are shifting from the west to the east, concentrating on the Asian region. Players in the market are spending extensively on research and development for the much needed innovation in natural dyes, states a new report by Transparency Market Research. In addition to this, players are also focusing on the quality of products and striving to reduce the cost of production. Key manufacturers operating in the global dyestuff include Clariant AG, Kemira, Huntsman Corporation, Sumitomo Chemical Company Ltd., Rockwood Pigments, Inc. Arkema SA, BASF SE, DuPont, Lanxess AG, and Kiri Industries Ltd.
According to the report, the global dyestuff market is expected to be worth US$204.3 mn by 2020. The report segments the global dyestuff market on the basis of end users into home textiles, apparel, automotive, agriculture, and protective clothing. Of these, the apparel segment is expected to expand at a CAGR of 7.9% from 2014 to 2020. Nylon fibers being used in the manufacturing of various types of clothing is driving the global dyestuff market. On the basis of type of fibers, the market is segmented into monofilament fibers and staple fibers. Of these, the nylon staple fibers segment is estimated to expand at an 8% CAGR from 2014 to 2020.
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Asia Pacific to Remain Dominant through 2020 in Dyestuff Market
By geography, the global dyestuff market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Of these, Asia Pacific will continue to remain in the leading position through 2020. The Asia Pacific market is expected to grow on account of the rising demand from countries such as China, Korea, Japan, and India. The lower cost of production and the growing prominence of Asia as a hub for textiles is expected to drive the market. In addition to this, analysts say that the increased demand for technical textiles in Asia Pacific is another key factor behind the growth of the market. The Rest of the World market for dyestuff is projected to expand at a robust pace. The increasing demand for dyestuff from the Middle East and Latin America for the manufacturing of nylon textile fibers is driving the market in the Rest of the World.
Flourishing Textile Industry to Drive Demand for Dyestuff
Dyestuff is used to color a wide range of textile fibers such as nylon fibers, polyester fibers, and acrylic fibers. The demand for technical textiles is growing and this is expected to fuel the demand for dyestuff in the coming years. A growth in the apparel market is also boosting the global dyestuff market. Governments across countries are supporting trade associations and this is expected to propel the global dyestuff market. Moreover, the growing popularity of natural dyes is expected to drive the market, says a TMR analyst.
On the other hand, the volatility in the cost of raw materials will impact the market negatively. Falling margins owing to over capacity will also hamper the growth of the market. In addition to this, stringent environment regulations on the use of synthetic dyestuff will pose a challenge for the market. However, the use of waterless dyeing is expected to emerge as a growing trend in the coming years.
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This information is based on the findings of a report published by Transparency Market Research, titled “Dyestuff Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014- 2020.”
The global dyestuff market is segmented as follows:
Dyestuff (Black Color) Market for Nylon Textile Fibers - Product Segment Analysis
- Monofilament fibers
- Staple fibers
- Others (Including multifilament fibers, tows, etc.)
Dyestuff (Black Color) Market for Nylon Textile Fibers - End-user Analysis
- Home textiles
- Others (Including automotive, agriculture, protective clothing, etc.)
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