According to a new report from Markets and Markets, he global colorants market is projected to grow at a CAGR of 3.6 percent from 2013 to 2018 and reach 11 million metric tons by 2018. Asia-Pacific, with its thriving economies and rapidly expanding manufacturing bases, is expected to experience highest consumption during the next five years.
The major driving factors of this market are growth in end user industries, rising demand for high performance pigments (HPP), and rising preference towards environment-friendly products. Colorants have a large number of applications ranging from paints and coatings, textile, construction, printing inks, and plastics. The paints and coatings industry is recording significant growth due to growing infrastructure. According to the industry estimates, the global demand for paints & coating is anticipated to grow at a CAGR of 5.4 percent during the next five years. Printing ink is another application of the colorants market. The demand for printing ink is driven by various factors such as technological developments and increasing demand for digital inks.
The factors restraining the growth of this market are raw material price volatility, its global over capacity, and environmental concerns. Some of the trends witnessed in this market are shifting of the manufacturing facilities from U.S. and Europe to India, China, and Taiwan and the rising preference towards eco-friendly products.
In the colorants market, Asia-Pacific accounts for the largest share. This region is one of the key markets for dyes and pigments production. In the Asia-Pacific, India and China are the important countries contributing towards the growth of this market.
The market has also been segmented on the basis of product types - dyes (reactive dye, disperse dye, sulfur dye, VAT dye, acid dye, direct dye, basic dye, and others), organic pigments (azo, phthalocyanines blues and greens, and high performance pigments), and inorganic pigments (titanium dioxide, iron oxide, and others). These segments have been discussed in detail and a comprehensive view and forecast is provided for each category.
This report studies and forecasts the colorants market till 2018. The market is further segmented and estimated for significant regions such as North America, Europe, Asia-Pacific, and Rest of the World that include key growth regions such as China and India. Market estimations have been provided in terms of consumption volume (tons) and market revenue ($Million). The global as well as regional markets have been segmented for each product type by applications.
They have used various secondary sources such as Company's Annual Reports, Organizational Websites, and Databases to identify and collect information useful for this extensive commercial study of colorants. The primary sources - selected experts from related industries and selected suppliers - have been interviewed to obtain and verify critical information as well as to assess the future prospects of colorants.
They have also profiled leading players of this industry with their recent developments and other strategic industry activities. Key participants in the global colorants market include Kiri Industries Ltd (India), Clariant International Ltd (Switzerland), BASF (Germany), Cabot Corp. (U.S.), CPS Color AG (Switzerland), DIC Corp. (Japan), E.I. Du Pont De Nemours & Co. (U.S.), ECKART GmbH (Germany), Flint Group (Luxembourg), Heubach GmbH (Germany), Huntsman Corporation (U.S.), Kronos Worldwide Inc. (U.S.), LANXESS AG (Germany), CRISTAL (Saudi Arabia), Rockwood Holdings Inc. (U.S.), Zhejiang Longsheng Group Co. Ltd (China), Sudarshan Chemicals (India), Tronox Ltd (U.S.)., The Shepherd Color Company (U.S.).