The Global Dyestuff for Cotton Market was valued at US$ 2.21 billion in 2016, according to a new report published by Coherent Market Insights. Dyes are aromatic and ionizing compounds, with affinity towards the substrate it is applied to. This can be categorized into natural and synthetic dyes. Synthetic dyes use various color modifiers such as methyl and ethyl group in order to alter the color of the dyes, which finds wide applications in various end use industries such as textile (non-woven), healthcare and personal care. The increasing demand for dyestuff from textile (non-woven) is rapidly growing in the Asia Pacific region, as China and India are major exporters of textile products. This is mainly attributed to major cotton production and cheap labor costs in the region. However, due to increasing labor cost in India and China is influencing manufacturers to pursue favorable growth avenue in countries such as Bangladesh, Nepal, and Vietnam. Dyestuff are widely used in coloring various garments, this in turn creates a favorable growth environment for the dyestuff for cotton market. For instance, in 2016, Huntsman International LLC. Collaborated with Viyellatex Group, Bangladesh-based vertically integrated group of textile manufacturing companies. In this collaboration, Huntsman International LLC will provide support for streamline operations and optimize processes, train technical staff, and make recommendations to help improve yield and productivity.
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Petroleum and its derivatives are the primary feedstock used in the manufacture of dyestuff. Fluctuation of raw materials prices and stringent government regulations in various countries in the use of petroleum derivatives is expected to hinder the market growth during the forecast period. As per the current situation India is expected to be the most favorable region for dyestuff for cotton market due to favorable government policy coupled with rising economy and growing textile industry, the country is expected to witness a significant growth for the global dyestuff market during 2017-2025. For instance, according to India Brand Equity Foundation (IBEF)—a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—the Indian textiles industry, in 2016, was estimated at around US$ 108 billion, is expected to reach US$ 223 billion by 2021.
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Key takeaways of the market:
North America is projected to be the largest region in global dyestuff for cotton market. It accounted for around 33.10% of overall dyestuff for cotton market revenue in 2016. The market in this region is expected to be primarily driven by rampant growth of pharmaceuticals and personal care industry. The growing trend for online retail chain positively shapes the apparel and textile industry, as advancing economy and rising income, people have less time for outdoor shopping. Currently the market for online luxury fashion sales is dominated by U.S., Germany and U.K.
The market in Latin America is expected to register a significant growth rate over the forecast period. Rise in textiles industry across the region is expected to create lucrative growth opportunities for the players in this region.
Personal care industry is one of the key industries for the use of dyestuff for cotton. A strong cosmetics product sales in North America and Europe is expected to enhance the growth of dyestuff for cotton in the forecast period. The various types of dyestuffs that are used in cosmetics is particularly limited, because they must be registered on positive regulatory lists.
Clariant AG, Kemira, Huntsman Corporation, Sumitomo Chemical Company Ltd., Rockwood Pigments Inc., Arkema SA, BASF SE, DuPont, Lanxess AG and Kiri Industries Ltd are few of the key players in global dyestuff for cotton market.
There are various organic, and inorganic growth strategies which are being followed by the leading market players in the market. Technological advancement is leading to the key innovation in the new product launches. Companies are also investing in expansions, mergers & acquisitions, and joint ventures in the market.