Mindaspire Market Research (MMR) delivers key insights on the Textile Colourant market in its latest report titled, “Textile Colourant Market by 2026”. According to the report, the global textile colourant market is projected to expand at a healthy CAGR of 4.8% during the forecast period in terms of revenue.
The global textile colourant market is projected to register a CAGR of 4.8% in terms of value and 3.5% in terms of volume during the forecast period 2016-2026. On the basis of regions, Asia-Pacific excluding Japan is estimated to be the largest market for textile colourant by 2026, accounting for 37.7% value share of the global textile colourant market in 2016. The region continues to dominate the market and is expected to continue to do so throughout the forecast period. Whereas, MEA is estimated to account for 3.1% value share in 2016, with growth rate of 4.9% over the forecast period. The markets in North America and Western Europe are anticipated to contribute majorly to the global textile colourant market, owing to high investments in textile colourant development and manufacturing across these regions.
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On the basis of application, the apparel segment is anticipated to account for US$ 4,781.2 Mn by 2026, expanding at the substantially high CAGR of 5.0% over the forecast period with relatively high value share of 50.3%. Followed by household segment with value share of 26.1% in 2026 with CAGR of 4.8%.
On the basis of dye type, reactive dye segment accounts for relatively high volume share i.e. 28.7% in 2016 with CAGR of 3.8%. Whereas, In terms of value, direct dye segment have the relatively low share of 10.7% in 2016 with CAGR of 4.2%.
On the basis of product form, liquid segment have the significant value share of 38.0% in 2016 which is expected to increase to 39.3% by 2026 with CAGR of 5.1%. Whereas, granules segment account for relatively low volume share i.e. 11.5% in 2016 which is expected to decrease to 11.2% by 2026 with CAGR of 3.2%.
On the basis of fiber type, cotton segment have the relatively high volume share i.e. 25.4% in 2016 which is expected to increase to 25.6% by 2026 with CAGR of 3.6%. In terms of value, acrylic segment is expected to expand with relatively high CAGR of 5.1% over the forecast period and accounts for 9.2% in 2016 which is expected to increase to 9.5% by 2026.
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The textile industry in developing regions has witnessed rapid growth due to low labour costs and adequate infrastructure. This has increased demand for textile chemicals in the region. For Instance, in 2014, Asia Pacific accounted for approximately 53% of the global textile chemicals market. Moreover, the growth of textile colourants market in Asian countries such as Bangladesh, Vietnam, Indonesia and Cambodia is expected to register relatively high growth rate. The textile chemicals industry is fragmented, comprising several large and small players. The major players have well developed supply chain network in the region leading to strong supply and availability of textile chemicals at reasonable prices for end-users in the market. The major textile colourants companies have set-up their research and development facilities in regions including Asia Pacific, North America, and Western Europe. The emphasis is on developing chemicals that are eco-friendly, energy efficient and at the same time are cost effective. Moreover, efforts are focused on developing multi-functional chemicals. Textile chemicals are a class of specialty chemicals that are used in various processes involved in the textile and fabric processing. For instance, in 2014, textile chemicals account for around 2% of the US$ 785.0 Bn global specialty chemicals market. The global textile chemicals market was estimated around US$ 15.0 Billion.
The global textile colourant market is segmented on the basis of application, dye type, product form, fiber type, and region. By application, the textile colourant market is segmented as apparel, household, technical textile, automotive, and accessories. On the basis of dye type, textile colourant market is segmented as reactive dye, acid dye, direct dye, disperse dye, and basic dye. By product form, the textile colourant market is segmented as powder, granules, paste, and liquid. On the basis of fiber type, the textile colourant market is segmented as wool, nylon, cotton, polyester, acrylic, acetate, and rayon. Key regions covered in the report are North America, Western Europe, Asia-Pacific excluding Japan, Eastern Europe, Middle East & Africa, Latin America and Japan.
The report analyses the global textile colourant market in terms of volume (‘000 Tons) and value (US$ Mn). The textile colourant market is segmented on the basis of application, dye type, product form, fiber type, and region and provides insightful information regarding the value chain, market trends, competitive landscape, market dynamics and market estimations and forecast.
Key textile colourant market participants covered in this report include Huntsman Corporation, LANXESS AG, KRONOS Worldwide, Inc., Kiri Industries Ltd., Atul Ltd., Allied Industrial Corp. Ltd., Archroma Management LLC, DyStar Group, Standard Colors, Inc., and Dye Systems, Inc.