The global synthetic dyes and pigments market was valued around $52 billion in 2018. Asia Pacific was the largest region in the synthetic dyes and pigments market with over 40% of the market. China was the largest country in the synthetic dyes and pigments market, accounting for about 21% of the market.
The synthetic dyes and pigments industry consists of the sales of synthetic dyes and pigments by entities (organizations, sole traders or partnerships) that manufacture synthetic organic and inorganic dyes and pigments, such as lakes and toners (except electrostatic and photographic). Pigments that are obtained from natural minerals as well as synthetic pigments are included in this market. Artificial food-coloring is also included in this market. Synthetic dyes and pigments have applications in manufacturing of almost all industrial products, paints and coatings and inks.
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Synthetic Dyes And Pigments Market Size
The global synthetic dyes and pigments market is expected to grow to over $63 billion in 2022 at an annual growth rate of about 5.1%. Faster growth in the forecast period can be attributed to an expected rise in demand for high performance pigments, economic growth and an expected increase in demand from end-user industries.
The synthetic dyes and pigments industry is relatively consolidated, with a few global players constituting significant market share. Top 10 players of the market constitute nearly one- third of the market. BASF SE was the largest competitor with about 7% of the synthetic dyes and pigments industry, followed by The Chemours Company, Venator Materials PLC, Kronos Worldwide, and Tronox Limited. (exact figures are mentioned in report).
BASF SE was the largest company in the synthetic dyes and pigments industry. It is involved in various businesses; some of its important businesses are agriculture, automotive and transportation, chemicals, energy and resources, paints and coatings and plastics and rubber.
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Company profiles included in the dyes and pigments market report are BASF SE, The Chemours Company, Venator Materials PLC, Kronos Worldwide, Inc., and Tronox Limited.
Migration of manufacturing capacity and eco-friendly dyes are the major trends witnessed in the global dyes and pigments market.
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