According to Fortune Business Insights, The global dyes and pigments market size was valued at USD 42.64 billion in 2023 and is projected to grow from USD 44.68 billion in 2024 to USD 56.91 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period. Asia Pacific dominated the dyes and pigments market with a market share of 41.3% in 2023.

What Are Dyes and Pigments?

Dyes are colorants that dissolve in solvents and bind chemically with substrates, whereas pigments are insoluble substances used to impart color through dispersion. Both play crucial roles in industries ranging from textiles to automotive, offering color stability, brightness, and resistance to light and chemicals.

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LIST OF KEY COMPANIES PROFILED:

• BASF SE (Germany)
• DIC CORPORATION (Japan)
• Clariant (Switzerland)
• Sudarshan Chemical Industries Limited (India)
• Huntsman International LLC. (U.S.)
• Atul Ltd (India)
• Cabot Corporation (U.S.)
• DuPont (U.S.)
• Kiri Industries Ltd. (India)
• KRONOS Worldwide, Inc. (U.S.)

Key Market Drivers

1. Booming Textile Industry

The textile industry remains the largest consumer of dyes. Growing apparel demand, fast fashion trends, and rising disposable income across emerging economies like India and China are driving the consumption of reactive, disperse, and vat dyes.

2. Increasing Use of Paints & Coatings