The market for textile dye is expected to register a CAGR of over 4%, globally, during the forecast period. The growing demand from the apparel industry is driving the market. On the flip side, stringent environmental regulations are hindering the growth of the market.
- The textile dye market is expected to grow during the forecast period, owing to the increasing demand from the apparel industry.
- The Asia-Pacific region is expected to dominate the global market, with the largest consumption being registered in countries, such as India and China.
Key Market Trends
Increasing Demand from the Apparel Industry
- Textile dyes are widely used as colorants in the apparel industry and is expected to be the fastest-growing market during the forecast period.
- Dyes are used for coloring the fabrics. Dyes absorb and reflect light at a specific wavelength which gives the human eye a sense of color. Dyes impart beauty to the fabrics.
- With the increase in penetration of the internet, consumers are now looking for easy shopping, better offers, and easy return policies. The growth in online sales has contributed to the growth of the apparel industry.
- Nowadays, clothing has become a symbol of aspiration, personality, and status. The consumers have shifted from need-based to aspiration-based clothing. The demand for aspiration clothing has increased which is expected to drive the textile dyes market.
- However, synthetic dyes are harmful to the environment as they are not biodegradable and require a lot of water during their manufacturing. Stringent environmental regulations are impacting the manufacturing of synthetic dyes.
- The increasing demand from the apparel industry is expected to drive the growth of the market for textile dyes.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for textile dyes during the forecast period due to an increase in demand from countries like India and China.
- Textile dyes are mainly used as colorants for fabric in apparel and household textiles. The population in India and China, combined, is about 40% of the global population. The growing population is expected to drive the demand for clothing which propels the market for textile dyes during the forecast period.
- As per the Ministry of Textiles annual report 2018-19, India’s textile industry contributes to 7% of industry output in value terms, 2% of India’s GDP and 15% of the country’s export earnings.
- As stated by the National Development and Reform Commission, Domestic sales of apparel and knitwear in China stood at around USD 172.4 billion for the first 11 months of 2019, representing a 3% increase year-on-year.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for textile dyes market in the Asia-Pacific region during the forecast period.
The global textile dye market is partially fragmented, with the players accounting for only a marginal share. A few companies operating in the market include Huntsman International LLC, Vipul Organics Ltd, DEV COLOURS, DyStar Singapore Pte Ltd, and Archroma.
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