Transparency Market Research

Textile Dyestuff Market Is Set to Record Exponential Growth by 2024

 

Albany, NY -- (SBWIRE) -- 09/14/2018 -- The global textile dyestuff market was valued at around US$ 5 Bn in 2017 and is anticipated to expand at a CAGR of approximately 5% during the forecast period, according to a new report published by Transparency Market Research (TMR) titled 'Textile Dyestuff Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.' The global textile dyestuff market is driven by rise in the demand for dyestuffs from the apparels industry and the technical textile industry. Use of textile dyestuffs helps the apparels industry cope with changing market trends; enhances aesthetics of textile products; and helps in recycling of textiles. These features make them ideal for use in various applications such as apparels, home & institutional, and technical textiles.

The textile dyestuff market in Asia Pacific is likely to expand at a considerable CAGR during the forecast period, due to rise in the demand from the apparels industry led by rapid urbanization and rising income levels of people in the region.

High demand for use in technical textiles, innovations in dyeing techniques, established platforms for market development, and increasing per capita apparel consumption to drive market

Textile dyeing is an integral part of the textile industry. The apparels industry has evolved, particularly over the last 20 years. Use of dyestuffs helps the apparels industry cope with changing trends and dynamics such as declining mass production and increasing importance of colors and serve the changing needs of customers. Innovations in dyestuff manufacturing and textile dyeing techniques help reduce the possible damage of the environment. Moreover, increasing urbanization and rising income levels are driving the apparels industry in developing economies such as India and China. All these factors are anticipated to drive the textile dyestuff market during the forecast period.

Nearly 110 liters of water is required to dye 1 kilogram of cotton fabric and thus, water consumption of an average-sized textile mill with the capacity only eight tons per day is about 880,000 liters per day. Several small- and medium-scale enterprises (SMEs) involved in the textile dyestuff manufacture cannot adopt costly technology and they are unable to make high investments to comply with stringent regulations. Hence, high environmental impact and stringent government regulations are likely to restrict the textile dyestuff market during the forecast period.

Rising demand for reactive dyes for dyeing cellulosic fibers to boost the reactive dye segment

Based on type, the textile dyestuff market has been segmented into acid dye, disperse dye, reactive dye, vat dye, azo dye, sulfur dye, and others. The reactive dye segment is anticipated to account for a major share of the market from 2018 to 2026, due to increase in the demand for reactive dyes for applications such as apparels and home & institutional. Based on raw material, the textile dyestuff market has been divided into benzene, toluene, naphthalene, anthaquinone, and others. Naphthalene and anthaquinone segments account for a major market share, owing to usage of naphthalene and anthaquinone in the production of reactive dyes and disperse dyes. Reactive dyes is the most preferred choice for cellulosic fibers, as they impart permanent color to the textile product and offer easy washing for the end-product and stability.

Apparels application segment to dominate the global textile dyestuff market

In terms of application, the global textile dyestuff market has been classified into apparels, home & institutional, technical textiles, and others. The apparels segment is projected to dominate the global market between 2018 and 2026, followed by the technical textiles segment, owing to rise in the number of innovative applications of dyestuffs in apparels and increase in urbanization and industrialization across the world.

Increasing demand for apparels in developing countries such as China, India, and Brazil to offer growth opportunities to the market

Geographically, the global textile dyestuff market has been segregated into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is anticipated to hold a major share of the global market during the forecast period. This is attributable to increase in the number of textile dyeing mills and flourishing textile industry in the region. Companies operating in synthetic fiber and textile industries have shifted from Europe and the U.S. to the Far East. Production of dyestuffs has also shifted to China and India. Low cost of labor and presence of less number of environmental standards in these countries provide producers with a significant cost advantage in the global marketplace. The textile dyestuff market in Asia Pacific is projected to expand at a rapid pace during the forecast period. Rising demand for textile dyestuff from apparel manufacturers in Asia Pacific is anticipated to boost the market in the region between 2018 and 2026.

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Consolidated market with a few players dominating the market

Key market players profiled in the report on the global textile dyestuff market are BASF SE, E. I. du Pont de Nemours and Company, Huntsman International LLC., Bozzetto Group, Archroma International, DyStar Group, Arkema SA, Lanxess AG, Sumitomo Chemical Company Ltd., Kiri Industries, Sudarshan Chemical Industries Limited, Zhejiang Longsheng Group Co., and CHT Group. In March 2018, Bodal Chemicals announced upgrade and expansion of its manufacturing facility, which would increase the dyestuff manufacturing capacity of the company by 12,000 metric tons. The expansion is expected to meet the increasing demand for textile dyestuff from the textile industry in the near future.

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