Textile Dyes Market - Forecasts from 2020 to 2025

The textile dyes market is expected to grow at a CAGR of 6.57% over the forecast period to reach a total market size of US$11.040 billion by 2025 increasing from US$7.537 billion in 2019

Textile dyes are used in the process of adding colors to textile products like fibers, yarns, and fabrics. Preference of natural dyes, growing demand for color textiles and fibers and strong research and development investments in plant-based dyes are the factors driving the market during the forecast period. However stringent government regulations are expected to restrain the growth of the market in the coming years. Also with the high price volatility of raw materials the market for textile dyes is anticipated to witness hindrance in the coming years.

Increasing consumer spending is expected to drive the growth of the market during the forecast period

High economic growth resulted in higher disposable income which has led to the rise in demand for textile products creating a surge in domestic demand and further augmenting the growth of the textile dyes market over the forecast period. For instance, according to the report by the Organisation for Economic Co-operation and Development, the household expenditure of China has increased from 3,334.045 billion in 2007 to 9,809.086 billion in 2018. Besides, Aspiring and affluent households helped to spur domestic consumption in various parts of the world. Consumers in even today have increased their spending on financial services products, apparel and personal care in the last decade showing a trend of focusing on one's appearances.

Growing demand in the garment industry is expected to drive the market during the forecast period

The garment industry in recent years has undergone various revolutionary changes in terms of quality, trend and global networking. Increasing disposable income and rising household spending in developing economies like China, India, and Brazil is expected to drive the growth of the market during the forecast period. In addition, a rising number of stores around the globe are also supporting the growing demand for garments which, in turn, is driving the demand for textile dyes. Also, various apparel categories vary substantially in various parts of the world which are creating demand for environment-friendly products is boosting the use of natural dyes in textile applications, which is further led to the increase in sales of dyes. In recent years, the textile industry has witnessed significant growth and with the change in fashion trends, the world of garments also seeks several opportunities.

With the favorable government policies from capital investment to subsidies in segments such as garments, waving the market for dyes is expected to reach significant heights in the coming years. For instance, recently Government of India approved Integrated Wool Development Programme (IWDP) to support the wool sector and aims to enhance the quality and increase production during the 2019-2020 periods. Also, in August 2018, the Government of India further increased the basic customs duty to twenty percent from ten percent on more than five hundred textile products, to boost Make in India and indigenous production. The textile companies also around the globe are expanding their operations by entering into new fabric or by diversifying into new categories. To conclude, the future of the textile industry is promising, and with the growing disposable income, the retail sector is expected to experience a rapid growth with the entry of major international players in developing economies like India, Brazil, and Indonesia which is further anticipated to drive the market for textile dyes over the forecast period.

The Asia Pacific is estimated to hold a significant share in the market

By geography, the textile dyes market has been segmented as North America, South America, Europe, the Middle East and Africa, and Asia Pacific (APAC) regions. The Asia Pacific textile dyes market is dominating the global market, constituting significant share in 2019 on account of the established textile industry coupled with the presence of major textile producing countries like India and China. Also, China holds the largest market for textile dyes in the world. Besides, rapid urbanization and increasing the manufacturing industry in the region along with the improving economic environment and stability in many countries within the region is further anticipated to bolster the textile dyes market. In North America, the market is growing at a substantial rate on account of the established automotive industry. Growing regulation related to the environment during the production of textile material is poised to hinder the market growth in the region. Europe holds a significant share in the market due to the widespread adoption of textile dyes in the various end-user industries.

Competitive Insights

Prominent key market players in the textile dyes market include Sumitomo Chemical, Zhejiang Runtu Co., Ltd., Huntsman Corporation, Kiri Industries Ltd., and Lanxess among others. The number of players in the textile dyes market is large and growing with the opportunity to generate significant revenues as a result of growing demand. Key players in the market are seen to adopt similar strategies and are aiming to expand their market share by expanding their product portfolio. For instance, in 2019, PILI one of the most advanced company in the production of biotech dyes and pigments has generated significant technological advances from its last funding and now have led to the closing of the new round of $4million to accelerate the development of its product portfolio. Also, in 2017, Texollini invested nearly $2 million which includes installation of knitting, dyeing machines in its new 250,000-square-foot factory in Long Beach.

Segmentation:

By Type

• Acid
• Basic
• Direct
• Reactive
• Vat
• Other

By Fiber Type

• Wool
• Nylon
• Cotton
• Polyester
• Acrylic
• Others

By End User

• Household
• Technical textiles
• Garments
• Automotive
• Others

By Geography

North America

• USA
• Canada
• Mexico

South America

• Brazil
• Argentina
• Others

Europe

• UK
• Germany
• France
• Spain
• Others

Middle East and Africa

• Saudi Arabia
• Nigeria
• Egypt
• Others

Asia Pacific

• Japan
• China
• India
• South Korea
• Thailand
• Others