Textile colorants are specific products that can be added or applied to substrate to give color. They are commonly available in the form of pigments, dyes, and dry powder. They are manufactured with eco-friendly application with advanced technologies and regulations that supports the environment. In the composition context, textile colorant market can be categorized as thermo-chromic textile colorant and photochromic textile colorant. Textile industry accounts for largest consumption of colorants for instance dyestuffs. New chemical colorants in the form of dyes as paste are getting generally deployed in the textile industry. Synthetic textile colorants are used in textile industry that makes to offer trendy shades of textile material for a competitive market. Moreover, the textile manufacturers & textile processing units are the leading end users of textile colorants.
As per study, “Global Textile Colorant Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global textile colorant market include Berkshire Hathawy (Lubrizol Corporation), AkzoNobel, Abitec Corporation, Dow Chemical, Huntsman, KC Chemical, Buckman Laboratories, L.N. Chemical Industries, Archroma, KC Chemical, Omnova Solutions, Lonsen, K-Tech (India), Munzing, Dainichiseika Color & Chemicals Mfg, Chemipol (Kothari Group), Formosa Organic Chemical Industry, Kemira. These key players are majorly focusing on the innovative and multi-featured solutions that are likely to benefit the business.
Based on type, textile colorant market is segmented as alkaline colorant, acid colorant and others. In addition, based on application, market is segmented as automotive textiles, apparels, smart-textiles for military & defense, home furnishing and others. Apparels segment is expected to dominate the global market owing to rise in demand of apparels all over the world during the forecast period.
The textile colorant market is driven by increase in textile production market & its coloring application, followed by growth in urbanization & population, increase in government support, surge in use of textile colorants across various end-users and rise in disposable income. The eco-friendly application with various advanced technologies is another factor for the growth of the market. However, stringent environmental regulations and retaining the color for a long time & obtaining certain color shades are difficult through waterless dyeing methods, which may impact the market. Moreover, rapid rate of technological advancement is a key opportunity for market.
Based on geography, market is bifurcated as North-America, South-America, Europe, Asia-Pacific, Middle East & Africa and rest of the world. The Asian-pacific region holds major share in global textile colorant market owing to substantial growth in production facilities on the back of a variety of government initiatives to propel the industrialization across the region. Additionally, increasing revenues across densely populated countries like China and India may further boost the growth rate of the textile colorants market. The North-American and European regions are estimated to witness higher growth rate due to levitation in lifestyle of people, high investments in textile colorant development & manufacturing and growth in technical textiles like seat belts and air-bags over the forecast period. It is projected that future of the global textile colorant market will be bright as a result of increase in consumer spending on sports and functional apparel during the forecast period.
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Ankur Gupta, Head Marketing & Communications