The synthetic dye market is experiencing rapid growth, expected to rise from $17.56 billion in 2023 to $19.54 billion in 2024, with a CAGR of 11.3%. This growth is attributed to the expanding textile industry and innovations in dyeing technologies. By 2028, the market is projected to reach $28.75 billion, achieving a CAGR of 10.1%, driven by sustainability trends and compliance with health regulations.
Major Driver In The Synthetic Dye Market
The synthetic dye market is poised for growth fueled by the rapidly expanding packaging industry, driven by heightened demand across various sectors such as toiletries, food and beverages, and healthcare, especially in emerging economies. The surge in demand for high-quality digital printing applications on flexible packaging and labeling is expected to further propel the market. As the need for superior printing quality grows, there will be an increased demand for packaging printing, thereby driving the synthetic dye market. This projection aligns with the growing significance of synthetic dyes in the packaging industry, with market sizes in 2023, 2024, and 2028 playing a pivotal role in shaping the ongoing expansion of this market.
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Synthetic Dye Market Competitive Landscape
BASF SE, Sumitomo Chemical Co. Ltd., DuPont de Nemours Inc., Huntsman Corp., Clariant International Ltd., Zhejiang Longsheng Group Co. Ltd., Archroma Management LLC, Kemira Oyj, Heubach Gmbh, Dystar Singapore Pte Ltd., DyStar Group, Atul Ltd., Milliken & Company, Everlight Chemical Industrial Corporation, Synthesia A.S., Bodal Chemicals Ltd., Steiner Group Ltd., Kiri Industries Ltd., Cromatos S.A, Loxim Industries Limited, Stahl Holdings BV, Organic Dyes and Pigments LLC, OCI Company Ltd., Lanxess AG, Waterside colours Ltd., Vedant Textile Pigments Limited, Colorantes Industriales S.A. de C.V., Aries Dye Chem Inc., Trumpler GmbH & Co. KG, Ravi Dyeware Co. Pvt. Ltd., Haining Tongyuan Chemical Factory
Key Synthetic Dye Market Trend
The range of high wet-fast dispersed dyes is trending in the synthetic dye market. High wet-fast disperse dyes are suited for coloring polyester fibers, microfibers, and polyester/elastane blends for sportswear and activewear applications. For instance, Archroma launched Foron SP-WF dyes, which comply with safety, efficiency, and sustainability with the belief of being economical in the textile industry.
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Synthetic Dye Market Segmentation
The synthetic dye market covered in this report is segmented –
1) By Type: Aniline Dyes, Chrome Dyes, Anionic Dyes, Cationic Dyes
2) By Product Type: Acid Dyes, Disperse Dyes, Reactive Dyes, Direct Dyes, Basic Dyes, VAT Dyes, Other Product Types
3) By End User Industry: Textile, Food & Beverages, Paper, Ink, Leather, Other End Use Industries
By Geography:The regions covered in the synthetic dye market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the synthetic dyes market in 2023.
The Synthetic Dye Global Market Report 2024 furnishes information about the global synthetic dye market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
