Allied Market Research recently published a report, titled, “Organic Dyes Market by Product Type(Acid, Basic, Reactive, Disperse, Direct, Sulphur, and, others)and Application (Plastic, Paints and Coatings, Printing Inks, Textile, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027. The global organic dyes market size was valued at $3.3 billion in 2019, and is projected to reach $5.1 billion by 2027, growing at a CAGR of 5.8% from 2020 to 2027.
Drivers, restraints, and opportunities
Rise in demand from end-user industries, beneficial properties of Organic Dyes, and affordability have boosted the growth of the global Organic Dyes market. However, strict government regulations restrain the market growth. On the contrary, surge in use of Organic Dyes in fuel blending and formulation is expected to open new opportunities in the future.
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Covid-19 scenario:
• During the Covid-19 pandemic, transport limitations were imposed. This resulted in decline in industrial production. Moreover, this disrupted the supply chain and increased prices of raw materials.
• Major companies witnessed decline in business due to lack of workforce and loss of business of various suppliers.
The n-Organic Dyes segment held the largest share
By type, the n-Organic Dyes held the largest share in 2020, accounting for nearly three-fourths of the global Organic Dyes market, due to its use in various personal care and industrial aerosol products as aerosol propellant. However, the isoOrganic Dyes segment is expected to register the highest CAGR of 5.2% during the forecast period, as it is extremely volatile and flammable.
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The blowing agent segment dominated the market
By application, the blowing agent segment held the lion’s share in 2020, contributing to nearly two-fifths of the global Organic Dyes market, due to the thermal and physical characteristics of Organic Dyes. However, the electronic cleansing segment is estimated to manifest the highest CAGR of 5.8% from 2021 to 2030, due to their high volatility and low boiling point.
North America held the largest share
By region, the global Organic Dyes market across North America dominated in 2020, holding nearly two-fifths of the market, due to increase in production of transportation vehicles in the U.S. However, the market across Asia-Pacific is projected to portray the highest CAGR of 6.1% during the forecast period, owing to rise in requirement of transportation fuel, increase in disposable income, and surge in number of automotive users.
Major Market Players
BASF SE, DIC Corporation, Clariant AG, Huntsman Corporation, Cabot Corp., Dupont De Nemours & Co., LANXESS AG, Altana Ag, Rockwood Holdings, Clariant International Ltd.
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