As per a brand-new report by Market
Research Future (MRFR), the global colorants market is anticipated to accrue USD
68.65 billion by 2025, exhibiting a CAGR close to 5.4% from 2016 to 2025
(forecast period). Colorants are pigments or dyes added to paints and coatings
to change its color for aesthetic purposes. Rising demand for colorants in
foods and beverages, personal care products, and plastic products is expected
to drive the market over the forecast period.
Rise in expendable incomes of
consumers and burgeoning population are factors expected to fuel market demand
over the forecast period. Instability in raw material prices can impede market
growth. But awareness of organic colorants and environmental regulations
regarding synthetic dyestuffs are likely to spur the production of colorants
derived via natural sources.
The colorants market is segmented by
composition, source, type, end-user, and region. By composition, organic and
inorganic colorants are two major variants in the market.
By source, the market is segmented
into natural and synthetic. The natural colorants segment is deemed to thrive
in the market owing to demand for pigments derived from organic sources. The
synthetic segment can experience a modest growth rate owing to its high usage
across industries.
Major players in the colorants market
include Huntsman Corporation (U.S.), PolyOne Corporation (U.S.), Sun Chemical
Corporation (U.S.), Cabot Corporation (U.S.), E. I. du Pont de Nemours &
Company (U.S.), Flint Group (Europe), BASF SE (Germany), Clariant AG
(Switzerland), DIC Corporation (Japan), LANXESS AG (Germany), and others. The
market is characterized by partnerships, mergers, and acquisitions. This is
evident by the recent acquisition of Chroma Corporation by Carolina Color
Corporation in 2018. This move can expand the reach of the latter in the
Midwest and enhance its product offerings. Companies are investing in their
supply chain to protect itself from a paucity of raw materials.
Get More Professional and Technical Industry Insights @ https://www.marketresearchfuture.com/reports/colorants-market-3215
Types of colorants in the market
include inks, paints, dyes, pigments, coatings, masterbatches, and others.
Paints and coatings segments are likely to command a respectable market demand
owing to demand for pigments and dyes. Investments in technologies for reducing
the production of pigments can spur the demand in these segments. The pigments
segment can experience a remarkable growth rate owing to extensive application
in plastics, printing inks, and cosmetics.
Major market end-users include paper
& printing, foods & beverages, building & construction, packaging,
textile, personal care, pharmaceutical, and others. The foods and beverages
segment can reach a significant valuation owing to steady demand for foods. In
addition, the use of caramel color in spirits, liquors, and consumable goods is
projected to fuel segment growth in the coming years. Rise in consumption of
carbonated and carmine beverages can provide the segment the much-needed
impetus. The textile segment can contribute to market growth owing to high
consumption rate of apparel. In addition, presence of online stores and
construction of malls to ease shopping convenience of customers can bode well
for this segment. The paper and printing segment can command demand owing to
use of colorants in construction, textiles, and paints. The packaging segment
can also contribute to market growth owing to attractive designs coupled with
consumer inclination for eco-friendly packages.
Regionally, the market covers latest
trends in North America, Latin America, Europe, Asia Pacific (APAC), and Middle
East and Africa (MEA). The APAC market is expected to lead in terms of demand
owing to application of colorants in various industries in the region. China,
India, and Japan are major contributors to the market.
Europe and North America are
consumers of colorants after APAC. Presence of leading automotive, food &
beverages, and packaging manufacturers can fuel a steady demand in these
markets. Regulations outlined by Registration, Evaluation, Authorisation and
Restriction of Chemicals (REACH) and Environmental Protection Agency (EPA) can
bolster demand for natural dyestuffs and pigments. These colorants can offer
durability and corrosion resistance to these products, furthering their demand
globally. Germany and Italy are prime contributors to the market owing to
rising demand for ready-to-eat foods.
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