(IT-NEWSWIRE.COM, January 18, 2023 ) The global Textile Dyes Market size was USD 11.1 billion in 2022 and is projected to reach USD 14.0 billion by 2027, at a CAGR of 4.6%, between 2022 and 2027.The market in Asia Pacific is witnessing high demand, along with low-cost of manufacturing in Asia Pacific countries.
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The demand for dyes for cellulose fiber is increasing in Asia-Pacific because of the rapidly growing textile industry. Cotton, jute, and other natural cellulose fibers are extensively used in the Indian textile industry. Apart from India, Bangladesh, China, and other Asian countries are the production sites for major fast fashion companies.
The segment with highest projected CAGR is Viscose fiber. The highest demand for viscose is from Asia Pacific market.The demand for viscose is supported by the its low prices and versatile use of the fiber.
The major driver for the textile dye market is the high demand from the garments industry and industries which use technical textiles such as automobile and construction. The trend towards using environmental friendly textile dyes is leading to high investment in R&D in the industry. Asia Pacific is an emerging market for textile dyes in terms of both value and volume.
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The rising demand from China and India is leading to the rapid growth of the market in the region as well as globally. The manufacturers in Europe and North America are required to follow regulations implemented by various regulatory authorities regarding the production as well as the use of textile dyes for various applications. This is a challenge faced by various key players.
Huntsman Corporation (US), Zhejiang Longsheng Group (China), Archroma Management (Switzerland), Kiri Industries (India), Lanxess AG (Germany) are the key players in the textile dyes market.
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