The global colorants market size was valued at USD 38 billion in 2022 and is expected to reach around USD 118.55 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 12.10% during the forecast period 2023 to 2032.
Access our Premium Real Time Data Intelligence Tool, Visit: Precedence Statistics
Access our Premium Real Time Data Intelligence Tool, Visit: Precedence Statistics
TakeawaysAs the disposable income of the households has increased there has been an increase in the spending power of the consumers. Increasing population and rapid urbanization has also led to an increased spending on various food products that are packed. Increased purchasing power of the people staying in the developed as well as the developing nations shall lead to an increased demand for the textiles or fashion garments. All of these factors are expected to drive the market growth of the colorants market during the forecast period.
A colorant is added or it is applied to various materials or surfaces and this substance helps in changing the color of all of these materials. There's a growing demand for colorants for the plastics and the foods. All the colors available in the market are either made-up of inorganic compounds or the organic compounds. Increased use and increased demand for the colorants in the cosmetics, inks, textiles, papers and the plastics market will be beneficial for the growth of the market in the coming years. Most of the colors are obtained from the mineral agricultural and the biological sources.
Colors are used in the form of the pigment which is helpful in the manufacturing process where this pigment is used as a material which helps in transforming or changing the color of the reflected or the transmitted light. the tinting strength of the pigment needs to be more when it Checked in comparison to the materials that are colored. For the production of the plastics and the paints fine powder is used as a colorant these pigments are dry colorants. Pigments have major applications in the manufacturing of the ink, food, paint, coloring fabric and different materials. Dye and pigment are completely different things. The difference between the two can be compared in terms of their solubility. The former one is soluble and the latter one is insoluble.
The outbreak of the COVID-19 pandemic there were strict lockdowns imposed across many nations and there were stringent policies and acted for the restraining of trade as well as movement. Just like most of the industries the colorants industry was also affected due to the pandemic. Constant lockdowns and restricted movements had negatively affected the market. The production activities in this industry had come down or they were even halted for a temporary period of time. Major manufacturers in the industry are increasing the number of investments made for the research and development purposes. Constant research and development activities will be instrumental in occupying the market.
Strategic partnerships shall be helpful in the sustainable growth of the market. Even though the market is expected to grow well during the forecast period there are few factors that will hinder the growth of the market in the coming years. The presence of a few toxic elements in these colorants have been proven to cause various health ailments and one of them is cancer. Long term exposure to these colorants may have a negative impact on the workers. Even though these products are available at affordable rates one of the major challenges in the growth of the market is the manufacturing of colorants that do not pose any health threats to the human beings or even the animals.
Report Scope of the Colorants Market
|Market Size in 2023||USD 42.41 Billion
|Market Size by 2032||
USD 98.3 Billion
|Growth Rate from 2023 to 2032||CAGR of 12.10%|
|Forecast Period||2023 to 2032|
|Segments Covered||Application, Color, Composition, Form, Geography|
Clariant AG (Switzerland), LANXESS AG (Germany), Cabot Corporation (US), du Pont de Nemours & Company (US), Flint Group (Europe), PolyOne Corporation (US) , Sun Chemical Corporation (US), BASF SE (Germany), DIC Corporation (Japan), Huntsman Corporation (US)
The parents of the industrial grade are used in many industries and they are manufactured on a large scale. This industrial grade paint is used in the construction, building and the automotive market. Different types of coatings and paints are available in the market and provided by the manufacturers because these coatings or paints play a very important role in preventing the material or the metals from rusting or corroding. These paints or the coatings play a vital role in preventing any damage to the surface. It also provides constant protection from various elements that may damage the paint or the coatings of these equipment. And most of all the use of these paints is expected to grow during the forecast period as they help in improving the look of various materials that are colored or coated.
Increased disposable income and growing geriatric population across the developing as well as the developed nations will create a greater demand for the market in the coming years. There is a growing demand for various high-end brands of clothing that are available in the market and there is also a good demand for the food items that are provided in the packed form. The textiles industry and the food industry are expected to be a large consumer of the colorants during the forecast period.
Colorants are used in the food industry for improving the look of the confectionery and bakery items. Colorants that are available in the market in the edible format are used in the manufacturing of baked goods. Increased use of these edible colors will be attractive and it shall improve the sales of various food products. These colors are widely used in the packaged food products and other food products that are ready to eat. As the ready to eat products are in great demand across the developing as well as the developed nations due to the dual income households and lesser time available for cooking the market for the currency is expected to grow well during the forecast period. There is a growing demand for these food products especially in the developed nations across the globe. Increase in the geriatric population and the consumption of unhealthy food have caused early graying of hair. There is a growing demand for the hair dyes or hair colors in the developing as well as the developed nations due to the wide range of products that are offered in the market.
Many manufacturers have come up with affordable hair dyes or hair colors that make use of these colorants in their manufacturing and the market for the colorants is expected to grow well during the forecast period. There has been an increase in the amount invested for the development and research purposes as the manufacturers see that there is a growing need for innovative colorants or organic colorants that cause less damage to the user. And they are also focusing on coming up with colorants that will be used across most of the industries.
Depending upon the basis of application, the demand for the colorants in the textile market is expected to drive the market growth in the coming years this segment is expected to grow well in the coming years due to a growing demand for this product and its maximum usage in the textiles industry. This segment has dominated the market in the past with the highest market share in terms of revenue. Dual income households and increased purchasing power has led to the growth in the demand for branded garments as well as clothing. There is a growing demand for the use of eco-friendly dies for the clothing and garments. The overall demand for the coloring agents is expected to grow well during the forecast.
There shall be a good amount of demand for these coloring agents in the Asia Pacific region as there has been a change in the preference of the consumer for the innovative colors or different colors. There shall be an increased consumption of these coloring agents in the food industry and the beverages industry as these products are used on a large scale for many confectionaries, bakery items and in the manufacturing of ice creams as well as chocolates. Growing demand for these products in the printing process will also be responsible for the growth of the market in the coming years. Different types of colors are available for printing for the different forms of materials. Printing is used for the plastics, metals, paper, glass ceramics and coverings.
Depending upon the form of the colorants, the pigments market is expected to have the largest market share during the forecast period. The pigments segment has dominated the market in the past as the demand for pigments was more.
Increased investments for improving the technologies which are used in the manufacturing of various colorants shall be one of the major factors which shall be beneficial in creating greater demand for the colorants in the coming years. The demand for the pigments has grown in the recent years due to its increased usage in the coatings of various materials and for painting of different materials.
Colorants Market Share, By Region, 2022 (%)
|Regions||Revenue Share in 2022 (%)|
On the basis of geography, the North American region has had the highest demand for these products in the past. The North American region is expected to dominate the market in the coming years due to a growing demand for these products across many industries. As though appearance or visual aspect of various materials or the products are enhanced by the use of the colorants the market is expected to grow well during the forecast period and it is expected to generate a lot of revenue due to its usage in many industries. It has also been playing an extremely important role in increasing the sales of various products as it makes the products attractive.
Apart from its growth in the North American region the colorants market is expected to grow well in the European region. Colorants are used on a large scale in the automotive industry of the European region. As many automotive manufacturing companies are based in the European region the demand for the currency is expected to grow well in the coming years as it is used in many parts. Apart from its usage in the automotive industry there has also been an increased use of colorants in the food and beverages industry textiles industry and the paper industry. All of these colorants are expected to have a good demand for the currency especially in the Asia Pacific region. The demand for the currency is expected to be high in the nations like India China and South Korea of the Asia Pacific region.
Key market developments in the colorants market
A collection of translucent colors in four different shades was offered by Ampacet in the year 2021 which would be useful for the production of the clarified PP and also the packaging. The four colors that were introduced by the company word fueled yellow, red glow, orange oxygen and green energy.
Key market players
Segments covered in the report
PROCEED TO BUY :
ASK FOR SAMPLE
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client