Textile Dyes Market Industry Analysis, Size, Share, Trends, Revenue

The textile dyes market is projected to grow from USD 7.34 billion in 2017 to USD 9.82 billion by 2022, at a CAGR of 6.00% between 2017 and 2022. APAC is the largest consumer of textile dyes. Low labor cost and growing demand owing to the large population in APAC countries are some of the factors that are driving the growth of the textile dyes market.

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Some of the major players in the textile dyes market include Archroma (Switzerland), Kiri Industries (India), Huntsman Corporation (US), Lanxess (Germany), and Zhejiang Longsheng Group Co (China). These players have adopted various strategies, such as mergers & acquisitions and new product launches, to achieve growth in the textile dyes market. Mergers & acquisitions was the key strategy adopted by the major players to achieve growth in the textile dyes market between 2014 and 2017. This strategy accounted for a share of 50% of all growth strategies adopted by key market players. This strategy has helped companies enhance their product portfolio and expand global presence.

Archroma is a leading global chemical manufacturer and service provider with a technologically advanced product portfolio of textile-based products. It is one of the leading producers of specialty chemicals and colors. The company operates under three main segments, namely, textile specialties, paper solutions, and emulsion products. The company offers color solutions for a variety of applications, including textile, paper, paints, and coatings. Archroma has been actively involved in acquiring emerging companies in the textile dyes market space. For instance, during 2015–2017, it completed the acquisition of two companies. In September 2017, Archroma announced the acquisition of additional 26% shares of M. Dohmen (of which 49% had been acquired in 2014), a multinational group specializing in the production of textile dyes and chemicals. In July 2015, Archroma acquired the textile chemicals business of BASF. The acquisition is expected to consolidate Archroma’s leading position in supplying chemicals dyes to the global textile industry.

Kiri Industries Ltd. is a diversified chemical company based out of Gujarat, India. It manufactures and exports dyes and dyes intermediates in various forms such as powder, granular, and standardized spray. It is also a supplier of basic chemicals in the Indian market and overseas, serving the needs of many industrial sectors such as automotive, textile, and leather. It manages its business across 50 countries and 7 continents through its 2 geographic business segments, namely, India and outside India. The company is highly focused on organic strategies. For instance, in April 2016, DyStar (subsidiary of Kiri Industries) introduced ‘Cadira Reactive’ – a new module in DyStar’s Resource Efficiency program at Interdye Shanghai. This concept considerably reduces water, waste, and energy consumption. The concept is expected to help brands, retailers, and production partners to reduce the carbon footprint of their textile goods.

The textile dyes market is projected to grow from USD 7.34 billion in 2017 to USD 9.82 billion by 2022, at a CAGR of 6.00% between 2017 and 2022. Low labor cost and growing demand for textile dyes owing to the large population in APAC countries are among the key factors contributing to the growth of the textile dyes market.

The cotton fiber segment accounted for the largest share of the global textile dyes market, by fiber type. This fiber type can retain many dyes, and is washable and ironable. These properties make the textiles derived from cotton appropriate for mass-produced clothing products. Viscose is projected to be the fastest-growing fiber type segment. The demand for viscose textile is driven due to its easy dyeing properties and low cost.

Based on dye type, the disperse dye segment is expected to witness the highest growth during the forecast period. This is due to its use in multiple types of fibers such as synthetic hydrophobic fibers, polyester, and acetate fibers.

APAC is expected to be the fastest-growing market for textile dyes. The drivers for this market’s growth are identified as low labor cost and growing demand for textile dyes owing to the large population in APAC countries. The strengthening economy of countries such as China and India attracts new investments. In addition, policies that mandate the use of environment-friendly and low-VOC products have led to innovation in the textile dyes industry of the region.

The textile dyeing industry is one of the most chemically intensive industries on the planet and is the next worst polluter of clean water after the agriculture sector. However, there is a growing consumer consciousness to purchase eco-friendly garments. The dyeing processes used to color the garment are opting for low-VOC technologies and eco-friendly procedures to counter this problem. Consumers are also willing to pay a higher price for such products. This new wave of low-VOC product use is bringing major opportunities for several clothing manufacturers in terms of developing better technology. Moreover, the major players are also expected to grab this opportunity to charge premium for such products and gain a competitive advantage over other market players.

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