Solvent Red Chemical Market is the largest segment driving the growth of Solvent Red Market
Market Overview:
Solvent red dyes are primarily used to stain thermoplastics and textile fibers. They impart bright red tones to substrates like acrylics, polyesters, nylons and acetate fibers. Some key advantages of solvent red dyes are their good solubility in organic solvents, brilliance of shades, light and wet fastness. There is growing demand for these dyes from various end use industries like textiles, plastics, printing inks, coatings and food coloring.
Key Takeaways
The Global Solvent Red Market Size was valued at US$ 2.18 Bn in 2023. The market is expected to grow at a CAGR of 3.9% during the forecast period to reach a valuation of US$ 2.76 Bn by 2030.
The textile industry accounts for over 35% of the total solvent red market share. Growth in textile exports from Asia Pacific is expected to drive the demand for solvent red dyes in the region.
Regional analysis: Asia Pacific dominates the global solvent red market with over 45% market share in 2023. This is attributed to presence of strong textile industries in countries like India, China, and Indonesia. India is expected to become the fastest growing market during the forecast period.
Key players operating in the solvent red market are Clariant International Ltd., BASF SE, Huntsman Corporation, Lanxess AG, Dow Chemical Company, Arkema Group, DIC Corporation, Sudarshan Chemical Industries Limited, Asahi Kasei Corporation, Meghmani Organics Limited.
Read More - https://makuv.com/increasing-demand-from-textile-industry-to-drive-the-growth-of-solvent-red-market/
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