Synthetic Dyes And Pigments Manufacturers Are Increasing Investments In Research And Development
12 Mar, 2020
Synthetic dyes and pigments manufacturers are increasingly investing in research and development (R&D) activities and technological innovation to develop products with enhanced physical and chemical properties. Synthetic dye manufacturers are investing in smart dyeing processes and intelligent effects such as dyes which do not fade and have a better temperature resistance. Companies such as Huntsman Textiles and Clariant International are increasingly investing in R&D for synthetic dyes and pigments. For instance, Huntsman Textiles Effects has around 700 patents for synthetic dyes and the company consistently invests 5% of its turnover in R&D. Kronos Worldwide, Inc., a major player in the synthetic dyes and pigments market, invested $20 million in research and development in 2017.
The global synthetic dyes and pigments market is expected to grow from more than $54.5 billion in 2019 to around $63 billion in 2022 at a compound annual growth rate (CAGR) of 5.1%. Emerging trends in the market include the use of eco-friendly dyes and the migration of manufacturing capacities.
Many textiles companies are starting to opt for eco-friendly dyes for producing textiles and fabrics. These companies do not use harmful dyes as they cause extensive damage to the environment and are known to cause skin allergies and respiratory diseases. Due to the positive environmental characteristics and low toxicity of eco-friendly dyes, many companies are moving toward eco-friendly organic dyes, despite them being priced higher than inorganic dyes. Awareness about some synthetic dyes being carcinogenic and causing ground water pollution is also pushing dye manufacturers to shift from synthetic dyes to organic dyes.
There has been an increasing migration of manufacturing capacities from the West to low-cost countries in the Asia-Pacific region. This is mainly due to stringent environmental compliance in Europe and North America. Gradually maturing production technologies and the presence of strong downstream customer bases in countries such as China and India have been propelling the demand for pigments in these countries in recent years. China was also the largest country in the synthetic dyes and pigments market in 2018, and will continue to be the fastest growing market to 2022, at an annual rate of 9.6%. Asia Pacific’s synthetic dyes and pigments market is supported by the large presence of end-user industries such as fabrics and apparel manufacturing industries, leading to an extensive consumption of synthetic dyes and pigments, and economic growth in the region. Examples of companies that have moved their manufacturing facilities to the Asia Pacific region are Huntsman Corp, DyStar, and Clariant.