The global colorants market was valued at $41 billion in 2016, and is projected to reach $64 billion by 2023, registering a CAGR of 6.5% from 2017 to 2023.Ingredients that add color to the product are termed as colorants. Colorants can be natural or synthetic additives. Pigments and dyes the common colorants serving industries such as clothes, paints, prints, plastics, photographs, and ceramics. Dyes are soluble in water, and mainly serve textile industry, whereas the pigments are insoluble and are utilized by the plastics, ceramics, and painting industries.
Upsurge in demand for end-use industry such as plastic and paints & coatings. Moreover, the increased consumer expenses on packaged food products, and cosmetics products boosts the market growth. However, the environmental regulations related to artificial colors restrict this growth. Also, the oversupply of dyes, leading to its decreased price hampers the market growth. Recycling of plastics and volatility of raw materials also restraints the market. Nevertheless, the technological advancement provides several growth opportunities for market expansion.
The global colorant market is segmented based on type, end-use industry, and geography. Based on type, it is classified into dyes and pigments. Based on end-use industry, it is divided into packaging, building & construction, automotive, textiles, paper & printing, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players profiled in this study include:
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