World Demand for Dyes and Organic Pigments to Reach $10.6 Billion in 2008
CLEVELAND - Worldwide demand for organic colorants (dyes and organic pigments) is forecast to expand 4.9 percent annually from a relatively weak 2003 base to $10.6 billion in 2008. The industry will continue to experience divergent demand trends on a number of fronts, i.e., developing nations will continue to record outsized growth compared to industrialized regions such as Western Europe, North America and Japan; demand for organic pigments will continue to outpace gains in dyes; and demand in the dominant textiles industry will continue to trail advances in other markets. Pricing pressures will also remain an issue, although some slight easing is expected. These and other trends are presented in World Dyes & Organic Pigments, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.
Geographically, the Asia/Pacific region is expected to supplant North America as the largest market for organic colorants. While North America will still offer growth opportunities, demand in the Asia/Pacific region will continue to expand at rates well above the world average. This is due to the rapid industrialization and growth in overall economic activity throughout the region, but particularly in China, and to a lesser extent, India. Other developing regions (Latin America, Eastern Europe and the Africa/Mideast region) will also record above-average growth. The wholesale move of the world's fiber and textile complex from industrialized nations to lower-cost developing nations is largely responsible for this trend, although demand in non-textile markets is growing rapidly in developing regions as well.