The synthetic dyes market proficiently consists of sales of synthetic dyes and related services utilized in the field of textile, paint, and printing to deliver the long-lasting coloring feature. Synthetic dyes are principally organic (carbon based) chemical compounds that are commonly derived from the petrochemical derivatives. A dye is a colored substance that has an attraction to the substrate to which the dye is functional. Dyes are functional in an aqueous solution and may demand a mordant to generate them fast on the fiber. Synthetic dyes are utilized to impart color to paper, textiles, leather and several other materials. Whereas, Eosin Y, fast green, basic fuchsin, aniline blue, methylene blue, and orange G are examples of the synthetic dyes.
According to the report analysis, ‘Synthetic Dyes Global Market Report 2020’ states that in the synthetic dyes global market there are several corporates which presently functioning more effectively for leading the highest market growth and dominating the handsome value of market share around the globe during the coming duration while delivering the better consumer satisfaction, decreasing the linked prices, advancing the applications of such, improving the specifications of the production technologies, implementing the profitable strategies, analyzing and studying the strategies and policies of the competitors and investing the effective amount of money includes BASF SE, Archroma, DyStar, Huntsman, Stahl, Kiri Industries, Clariant, Everlight Chemical, Synthesia, Vedant and several others.
The worldwide synthetic dye market was worth USD 31.97 billion in 2019. It is projected to increase at a compound annual growth rate (CAGR) of 13% and reach USD 50.38 billion by 2023. However, the synthetic dyes market has been geographically divided into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. During 2019, Asia Pacific accounts for nearly 45% of the market.
The synthetic dyes market is projected to be driven by the speedily growing packaging industry. This is majorly due to augmented requirement from the toiletries, food & beverages, healthcare, and other industries, predominantly in emerging regions. Going forward, the market for synthetic dyes is projected to grow with the establishment of high-quality digital printing applications on bendable packaging and labelling. Increasing the demand for digital printing owing to the requirement for high quality printing will lead to an augment in the demand for packaging printing, propelling the synthetic dyes market.
While, the growing awareness about adversative health effects of certain synthetic dyes is pushing dyes producers to shift from the chemical-based synthetic dyes to natural dyes, destructively impacting the market. Manufacturers are aiming on shifting from the chemical dyes to natural dyes to furnish to the consumer preferences for fresh textiles colors, which are also environmentally-friendly. The Synthetic dye also has opposing effects on the health of people and the environment owing to which emerging regions are moving to natural dyes. Numerous developed and developing regions have imposed a ban on the import of synthetic dyes. The usage of azo dyes is banned in underdeveloped countries such as India due to their environmental and health impacts.
Whereas, the Range of high wet-fast disperse dyes is trending the synthetic dyes market. Great wet-fast disperse dyes are matched for coloring polyester fibers, microfibers, and polyester/elastane assortments for sportswear and active wear applications. For instance, Archroma established Foron SP-WF dyes, which comply with protection, effectiveness and sustainability with a certainty to be economical in textile industry. Therefore, in the near years, it is predicted that the market of synthetic dyes will increase around the globe more effectively over the upcoming duration.
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Ankur Gupta, Head Marketing & Communications