Solvent Dyes Market to be Dominated by Bulk Packaging Segment Through 2028
Rising demand
from end user for production of their desired product and demand from
automotive industries are factors to drive the demand for the global Solvent
Dyes market in the forecast period, 2024-2028.
According to TechSci Research report, “Global Solvent Dyes Market- By
Region, Competition, Forecast and Opportunities, 2018-2028”, Global Solvent
Dyes Market is projected to grow at a significant rate in the forecast period
2024-2028. The market for solvent dyes is expanding more rapidly because of the
rising demand for shellacs, wood stains, inks, leather polish, waxes &
candle colorants, acrylic resins, and printing inks. Due to the widespread application
of color lubricants in the automotive and industrial cutting industries,
solvent dyes create a lucrative market growth potential.
Supply chain disturbance and
fluctuation in the raw material price is the primary factor that obstructs the
growth of the solvent dyes market. The cost of solvent dyes depends on crude
oil or petroleum by-product, which make it dependent on the petroleum market
and make the raw material price volatile. In addition, any hurdles in the
supply chain are expected to hinder product availability and higher cost price.
Import shipments of solvent dye from China are the highest worldwide, with 113
China Suppliers. Hence, any sanction on China can put the largest producer out
of the market and cause an unstable demand & supply ratio. Therefore, above
mentioned factor is expected to obstruct the market share in the forecasted
period.
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Global Solvent Dyes
Market is segmented based on type, packaging, and application.
Based on type, the market is
divided into metal complex-solvent dyes, oil-soluble dyes, water-soluble dyes,
and others. It is expected that the oil-soluble dyes segment will experience
the highest market share during the forecast period. Due to higher temperature
stability in engineering plastics, it has very high brightness and produces
clear polymers without haze or light scattering. Therefore, oil-soluble dyes
are expected to dominate the segment.
Based on application, the market is divided
into ink, plastics, fuel & lubricants, coatings & paints, and others.
The plastic segment is expected to hold the largest market share and maintain
its dominance in the projected period. Due to its light fastness property, good
quality, and consistency of color, it is used in the production of different
end-user applications. Thus, it is expected to propel the demand for plastic
products in the segment.
Major companies operating
in global solvent dyes market are:
- LANXESS AG
- Kunshan
Organic Chemical Factory
- Megha
International
- Kolorjet
Chemicals Pvt. Ltd.
- Nantong
Saint Colorchem Co., Ltd.
- Tianjin
Shenyuan Chemical Co., Ltd.
- Hangzhou
Epsilon Chemical Co., Ltd.
- Hangzhou
Sunny Chemical Co., Ltd.
- Winchem
Industrial Co., Ltd.
- Nitin Dye
Chemical Co., Ltd.
In February 2021, LANXESS AG signed a contract with Palmer Holland Inc. to
handle and manage the distribution channel of colorant additive products in the
USA from June 2021. After this agreement, Palmer Holland Inc. has to handle the
supply chain of LANXESS AG products like Macrolex solvent dyes and Macrolex
Gran granular colorants for PS, ABS, PET and PMMA, Bayplast, and Bayfast
pigments.
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Growing demand for solvent dyes from end-user industries such as cosmetics,
defense, automotive, printing, construction, and textile is expected to propel
the demand for solvent dyes market. Moreover, government initiatives and
policies like Vietnam Foreign Direct Investment Policy, Make in India, free
trade agreements, and creating of trade groups like BRICS, Shanghai
Cooperation, and others are propelling solvent dye demand. Similarly, the
rising application of solvent dyes in the military application and marketers’
efforts are thrusting the product demand and creating favorable conditions for
global solvent dyes market growth till 2028.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Solvent Dyes Market-
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented
By Type (Metal Complex-Solvent Dyes, Oil Soluble Dyes, Water Soluble Dyes,
Other), By Packaging (Bottle, Bulk, Tetra packaging), By Application (Ink,
Plastics, Fuel & Lubricants, Coatings & Paints, and Others), By Region
and Competition, has evaluated the future growth potential of global
solvent dyes market and provides statistics & information on market size,
structure, and future market growth. the report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in global solvent dyes market.”
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