Textile Dyes Market is Expected to Reach $15.5 Billion by 2026

According to a new report published by Allied Market Research, titled, "Textile Dyes Market by Dye Type and Fiber Type: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global textile dyes market was valued at $9.4 billion in 2018 and is projected to reach $15.5 billion by 2026, at a CAGR of 6.3% from 2019 to 2026. Rise in production of textiles to meet the increase in demand for consumers is expected to drive the growth of the market. Increase in urbanization, product innovation, rise in industrialization, and exponential growth of the online fashion sector is further expected to accelerate the growth of the market.

The global textile dyes market is segmented into dye type, fiber type, and region. Depending on dye type, the market is classified into direct, reactive, VAT, basic, acid, disperse, and others. The disperse segment was the highest contributor to the market and is expected to grow with a CAGR of 6.1% during the forecast period. The reactive segment is estimated to witness rapid growth, at a CAGR of 7.2%.

On the basis of fiber type, the market is categorized into wool, polyester, acrylic, and others. The polyester segment was the highest contributor to the market and is expected to grow with a CAGR of 6.4% during the forecast period. The acrylic segment is estimated to grow with a CAGR of 7.3%.

Region wise, the global textile dyes market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor and is growing with a CAGR of 6.9%. Asia-Pacific is analyzed across China, Japan, India, South Korea, Thailand and rest of Asia-Pacific. The region has presence of several emerging economies. The Asia-Pacific textile dyes market is driven by the technical textile market. China is one of the leading manufacturers due to increasing use of technical textiles in the country. In addition, favorable investment policies and government initiatives to promote technical textiles growth in India and China, fuels the demand for the textile dyes market. Around 15% textile dyes are used in technical textile.

Key players operating the global market include Agrofert S.A., Archroma, Chromatech Incorporated, Colourtex, DuPont., Hollindia International B.V., Huntsman Corporation, Jay Chemicals Industries Ltd., Kiri Industries Ltd. (Kiri), and Organic Dyes and Pigments. In order to stay competitive, these market players are adopting different strategies such as product launch, partnership, merger, and acquisition. For instance, Huntsman launched UNIVADINE E3-3D next-generation diffusion accelerant for dyeing of polyester, microfibers, and blends. With this launch huntsman aims to enhance its product portfolio.

Key Findings of the Study:

• In 2018, the Asia-Pacific market held a share of over 45.50% in the global textile dyes market.
• The U.S. and Canada collectively accounted for around 80.7% share in the North America textile dyes market in 2018.
• The Germany and France collectively accounted for around 48.0% share in the Europe textile dyes market in 2018.
• The reactive and direct segments are expected to witness significant CAGRs of 7.2% and 6.8%, respectively, during the forecast period.