The Asia-Pacific dyes and pigment market is anticipated to grow at a considerable CAGR of 5.1% during the forecast period (2021-2027). The Indian government considers the chemical industry as a key growth driver, with the chemical sector expected to account for 25% of the manufacturing sector’s GDP by 2025. Therefore this factor is influencing the Indian government to take initiatives to promote the country’s chemical industry. For instance, according to the India Brand Equity Foundation in October 2020, the Indian government urged agrochemical industry players to develop new molecules of international standards for farmers’ benefit, while CropLife India, the industry body, proposed stable policies and regulatory regimes to boost sector growth. Additionally, in the Union Budget 2021-22, the Indian government contributed Rs. 233.14 crore (US$ 32.2 million) to the Department of Chemicals and Petrochemicals.
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Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in March 2019, Bodal Chemicals Ltd announced that it has completed its expansion of manufacturing facilities by 6,000 Metric Tons Per Annum (MTPA) of Dyestuff plants. After the expansion, the company’s net capacity of Dyestuff plants, excluding Liquid Dyestuff, is 35,000 MTPA. Furthermore, the company has completed a facility for the production of Thionyl Chloride (TC) Plant with a capacity of 36000 MTPA. In addition to that, production has begun at the company’s unit VII, which is located in Vadodara, Gujarat.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Type
- By Application
- Competitive Landscape- Merck KGaA, BASF SE, Sudarshan Chemical Industries Ltd., Tata Pigments Ltd.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
Ø Deviation from the pre-COVID-19 forecast
Ø Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Asia-Pacific Dyes and Pigments Market Report Segment
By Type
- Dyes
- Reactive dyes
- Disperse dyes
- Acid dyes
- Others (Vat, Direct)
- Pigments
- Titanium dioxide
- Inorganic pigments
- Organic pigments
By Application
- Textile
- Paints & coatings
- Plastics
- Leather
- Construction
- Others (Paper, Printing ink)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
