Growth in Key Industries Drives Pigments and Dyes Market
SAN JOSE, CA – Market research firm Global Industry Analysts Inc. (GIA) has released a comprehensive global report on the pigments and dyes markets. The global market for pigments and dyes is forecast to reach 9.9 million tons and $26.53 billion by the year 2017, driven by the growth in key end-use industries. Additionally, demand in the market would stem from stringent and increasingly rigorous quality, performance and environmental standards. Increasing consumer preference for environment-friendly products, which in turn would drive the consumption of higher performance dyes and organic pigments, is expected to provide stimulus to the pigments and dyes market.
The market for pigments and dyes responds to the coloring needs of a wide range of end-use industries, ranging from coatings to construction. With robust demand in key markets of coatings, plastics, paper and printing inks, the pigments market is forecast to register steady growth in the coming years. Aided by a choice for brighter aesthetics and higher pigment concentration, the pigments industry is expected to propel ahead at a steady rate. The industry is witnessing a fundamental shift in the form of greater preference for high-performance metal-based inorganic pigments and away from solvent-based raw materials. The dyes market, meanwhile, largely depends upon the fortunes of its principal end-user, textiles, which account for about 70 percent of the total demand.