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Global colorants market: Asia-Pacific the key region for the industry
Colorants Market: Global Trends & Forecast to 2018 - a new market research report on 2014-04-21 18:15:01
The global colorants market is forecast to grow at a CAGR growth rate of around 3.6% between 2013 and 2018 and will reach 11 million metric tons by 2018. Asia-Pacific, with its thriving economies and rapidly expanding manufacturing bases, is expected to experience highest consumption during the next five years.
The major driving factors of this market are growth in end user industries, rising demand for high performance pigments (HPP), and rising preference towards environment-friendly products. Colorants have a large number of applications ranging from paints & coatings, textile, construction, printing inks, and plastics. The paints & coatings industry is recording significant growth due to growing infrastructure.
According to the industry estimates, the global demand for paints & coating is anticipated to grow at a CAGR of 5.4% during the next five years. Printing ink is another application of the colorants market. The demand for printing ink is driven by various factors such as technological developments and increasing demand for digital inks.
The factors restraining the growth of this market are raw material price volatility, its global over capacity, and environmental concerns. Some of the trends witnessed in this market are shifting of the manufacturing facilities from U.S. and Europe to India, China, and Taiwan and the rising preference towards eco-friendly products.
In the colorants market, Asia-Pacific accounts for the largest share. This region is one of the key markets for dyes and pigments production. In the Asia-Pacific, India and China are the important countries contributing towards the growth of this market.
The important players in the colorant market are concentrating on expanding their capacity. Some of the key players include Kiri Industries Ltd (India), Clariant International Ltd (Switzerland), BASF (Germany), Cabot Corp (U.S.), E.I. Du Pont De Nemours & Co. (U.S.), ECKART GmbH (Germany), Huntsman Corporation (U.S.), Kronos Worldwide Inc. (U.S.), LANXESS AG (Germany), CRISTAL (Saudi Arabia), and Rockwood Holdings Inc. (U.S.).
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