Synthetic Dyes Market worth $8.7 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Aug. 24, 2022 /PRNewswire/ -- Synthetic Dyes Market size is estimated to be USD 6.3 billion in 2022 and is forecasted to grow to USD 8.7 billion by 2027, at a CAGR of 6.5%, during the forecast period, according to a new report by MarketsandMarkets™. Synthetic dyes are the colorants used in various end-use industries such as textile, pulp & paper, leather, food & beverage, and personal care. The overall increasing demand of synthetic dyes from end-use industries is driving the synthetic dyes market. The demand is projected to witness a faster growth rate in emerging regions such as Asia Pacific and South America. Furthermore, low cost of manufacturing in the Asia Pacific region supports the growth of synthetic dyes market.

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Based on type, reactive dyes segment is projected to be the fastest growing segment in the synthetic dyes market

Reactive dyes segment is projected to grow at the highest CAGR in the overall synthetic dyes market, in terms of value, during the forecast period. Reactive dyes are commonly used in the textile industry, for dyeing of cellulosic fibers. Factors such as superior properties, low cost, and better performance are driving the demand of this type of synthetic dyes.

Based on application, dyeing segment is estimated to grow at the fastest rate in the overall synthetic dyes market

Dyeing accounted for the largest share amongst applications in the synthetic dyes market, in 2021. It is projected to grow at the highest CAGR during the forecast period. Synthetic dyes are widely used for dyeing different fibers in the textile industry. The rising demand for synthetic dyes in the textile industry is driving the market for this segment.

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Huntsman Corporation is one of the leading players in the global synthetic dyes market. The company manufactures differentiated organic chemical products globally. It offers a broad range of chemicals and formulations for various applications including coatings and construction, packaging, textile, and synthetic fibers. Huntsman Corporation provides synthetic dyes through its textile effects business segment mainly for the textile industry. The key players in the synthetic dyes market include Huntsman Corporation (US), Zhejiang Longsheng Group Co., Ltd. (China), Archroma (Switzerland), Lanxess AG (Germany), Heubach Gmbh (Germany), Atul Ltd. (India), Milliken (US), Kiri Industries Ltd. (India), Bodal Chemicals Ltd. (India), Cromatos (Italy), Kemira Oyj (Finland), and Solenis (US). These market leaders have adopted several organic and inorganic growth strategies including new product launches, acquisitions, and expansions between 2019 and 2022 to strengthen their position in the synthetic dyes market.

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