International. The global dyes and pigments market is expected to reach $46.4 billion by 2025, growing at a CAGR of 4.9%, according to a new report from Grand View Research, Inc.
Dyes and pigments are expected to witness significant growth in consumption on account of the high scope of application coupled with the increasing demand for the application of printing inks.
The increasing demand in the Asia-Pacific region for various applications such as textiles, construction, and plastics is anticipated to drive the market. It is anticipated that consumers' increasing willingness to spend, industrialization, and rapid economic growth will further drive growth across the region.
In addition, the rapid growth of the digital printing market is forecast to provide positive leeway for the printing ink industry, thus driving growth during the forecast period. Increased food and beverage consumption is also anticipated to further drive demand for products.
The study analyzed that reactive dyes were valued at US$10.81 billion in 2016 due to their high use in the leather industry. Petrochemical derivatives such as benzene and naphthalene along with other reagents and inorganic chemicals are the key raw materials used in industry.
