Industry Insights
The global colorants market was estimated at 2,025 kilo tons in the year 2015. Natural colorants are extracted from different sources including agricultural, biological, minerals and others. It is anticipated to witness a significant growth due to rising demand for pigments & dyes from various end-use applications majorly including textiles, food & beverages, and plastics.
Colorants are defined as a substance that is used alone or in combination with other ingredients to impart color in the product by altering its chemical and physical properties. The market has experienced immense growth in countries such as India, China, U.S., Canada, and Germany over the past few years due to the increasing awareness towards consumption of natural ingredients.
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This Research Report Answers the Following Questions:
• How Colorants market will grow in the coming year?
• Will the COVID-19 pandemic surge the demand for such platforms?
• How are key companies planning to promote benefits of Colorants?
• What are the industry growth drivers, obstacles, and dynamics?
• Which segment is expected to lead in the coming years?
The key driving factors such as increasing consumer preferences for attractive product packaging, and fashionable clothing trends, especially in U.S. are expected to spur the coloring agents demand over the forecast period. The North American market is dominated by U.S., owing to the high demand of pigment & dye product. The regional market is further influenced by numerous factors including a rise in paints demand and technological advancements.
Moreover, dyes & pigments are the natural or synthetic substances, which provides hiding power, color and precise physical attributes to a final product. They also support in enhancing durability and corrosion resistance characteristics to end-use products. Color additives are the key components that are utilized in manufacturing several finished products, by improving its physical properties to make them attractive, appetizing, and appealing for its customers.
Application Insights
The textile dominated the application sector and is anticipated to grow at a CAGR of more than 3.5% in the coming years. Increasing consumer spending on garments and clothing is expected to boost the market growth over the forecast period. In addition, increasing drift towards consuming eco-friendly products is triggering the use of dyes in the textile industry, which in turn has led to an increase in the overall coloring agents’ sales.
Growing usage of colors in beverages and sugar products such as sweets, chocolates, and ice creams is also anticipated to propel the product demand and was valued at above 250 kilo tons in 2025. Rising consumption of carmine, caramel, and annatto in personal care and food & beverage applications due to its eco-friendly nature is expected to open new opportunity avenues for market expansion.
Printing application segment was estimated to be around USD 1.8 billion in 2015, owing to increased usage of ink and printing colors in ceramics, wall coverings, fabrics, plastics, glass, metals, paper, and others. Moreover, due to inherent features of inkjet such as water and light fastness and resilience towards bleeding & heat, it is used in several end-use industries including leather, paper, plastics, textiles, constructions, coatings & paintings.
Colorants are a significant part of several products, making them informative and appealing. Consumers can identify a particular product with its respective function because of the unique color code offered by the colorants. This trend is widely adopted in candy flavors, packaging, and therapeutic dosages. Trading of such colorants products is controlled by global regulatory bodies including the U.S. Food and Drug Administration (FDA) and the European Union.
Regional Insight
On the basis of region, the global colorants market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Central & South America. Europe emerged as a leading consumer accounting for more than 35% of the revenue in 2015. Growing inclination for naturally derived color additives along with the favorable regulatory norms is predicted to steer the market growth in personal care, textile, and food segment over the forecast period.
Rising architectural coatings and printing inks demand in North America are anticipated to boost the market growth in the next eight years. The demand for dyes & pigments was recorded over 550-kilo tons and is estimated to witness highest growth rate during the forecast period.
The Asia-Pacific market was worth USD 5,500 million in 2015. Increasing utilization of color additives in emerging economies such as China, India, and Japan from end-use industries such as paper, textiles, coatings and plastics are contributing towards the regional growth.
Competitive Insights
The key players in the colorants market include ROHA JTT group, Teknor Apex Company, Pylam Products, T.H Glennon, DD Williamsom, San-Ei Gen F.F.I., Inc., Symrise AG, GNT Group, Lanxess AG, Clariant International, Penn Color, Polyone, Jagson Colorchem Limited, Sensient Technologies Corporation, Sethness Products Company, Chr. Hansen Holding. The coloarnts producers are involved in sustaining healthy supply and distribution chain across the globe to increase its market presence.
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