Reactive Dyes Market Demand, Global Outlook, Growth Analysis, Trends And Forecast By 2030
The Reactive Dyes Market t is projected to be worth USD 8.20 Billion by 2030, registering a CAGR of 9.3% from 2022-to 2030, confirms MRFR (Market Research Future). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
The COVID-19 outbreak has had a wide-ranging negative impact on the world chemical industry. The Reactive Dyes Market t has been quite profitable in the past few years, with the growing demand in the textile industry, among many other end-use applications. But the global market has been hit hard by the novel coronavirus pandemic, taking into account the slackened productivity and demand, shortage of key raw materials, disruptions to the supply chain, and the lockdown imposed across prominent regions. The rising number of SARS-CoV-2 cases has affected some of the top end-use industries in the reactive dyes industry, including paper, leather and textiles, leading to reduced demand and huge revenue loss.
On the brighter side, prominent suppliers of reactive dyes such as Sumika Chemtex Co., Ltd. (Japan), NIPPON KAYAKU CO. LTD. (Japan) and more have been taking up necessary measures to protect their employees, closing down manufacturing facilities to avoid the spread of the pandemic. The financial challenges brought on by the novel coronavirus have also compelled key firms to focus on strengthening their distribution and sales networks as well as supply chains, to prevent further losses.
Primary Boosters and Challenges
Reactive dyes have a wide color range and are mostly used for printing cellulosic fibers such as cotton and linen. Although pigments are the most popular colorants in textile printing, reactive dyes are the most frequently used out of all other dyes, accounting for 30% of the total colorants used in the printing industry. The textile industry has been observing considerable growth, with the surge in disposable income, and evolving consumption patterns among consumers. The constantly evolving fashion trends and the increasing preference for branded clothes have also resulted in growth of the textile industry, and by extension favoring the Reactive Dyes Market t. Therefore, the escalating use of reactive dyes in the consistently expanding textile industry could be a major growth booster, over the coming years.
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Heightened demand for reactive dyes in textile and leather industries can be accredited to their low cost, higher environmental performance and better technical aspects like broad range of color compatibility as well as excellent wash-fastness. The top firms in the market will be presented with attractive opportunities in the Asia Pacific Reactive Dyes Market t, considering the low manufacturing costs and the strong demand for textile and leather dyes in the region. The rapid economic development in China and India has been attracting sizeable investments, with many of the renowned companies striving to set up their reactive dyes manufacturing units in APAC.
Latin America Reactive Dyes Market t is another promising contender, brimming with a host of lucrative opportunities for the key leaders. Emergence of prominent end-use industries in the region, including wood, leather, paper, and others that generate colossal demand for reactive dyes is primarily the key reason for the growth of the Latin American market. On a global level, the players are working on developing new products and launching them in the market to boost their customer base and remain ahead of the competition.
Market Segmentation
Reactive Dyes Market t research by MRFR has considered a few key segments, namely type, function and end users.
The primary types of reactive dyes are reactive hot dyes, reactive cold dyes, reactive mild exhaust (ME) dyes, reactive highly exhaust (HE) dyes, and others (reactive 'P' dyes, reactive 'M' dyes, etc.).
Depending on function, the key market segments can be bi-funcational, vinyl sulphone, monochlorotriazine, and others.
With respect to application, the reactive dyes industry includes paper, cotton, leather, nylon, and others (wood and more).
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Regional Study
The key regional markets for reactive dyes are APAC/Asia Pacific, North America, Latin America, Europe and MEA/Middle East & Africa.
Asia Pacific is the market leader and is rife with several opportunities, in view of the consistent growth in product demand across industries like textile, paper and leather, especially in China and India. In the wake of economic saturation in North America and Europe, a number of manufacturers are moving their manufacturing base to APAC, as they sense the region’s growth potential. China happens to be a significant producer as well as consumer of reactive dyes in APAC.
Europe has clinched the second lead in the reactive dyes industry, and is quite lucrative, in terms of volume and value after APAC. Italy, the UK and Germany are the biggest markets for reactive dyes in the region, given the well-established textile industry. A major market trend observed in the region is the rising development of organic dyes that are not toxic to the environment.
North America is the third biggest gainer in the global market, with the lead taken by the US, United Mexican States and Canada. The demand for reactive dyes is especially high in industries like paper, leather and textile. Other factors encouraging the market growth in the region can be the well-developed healthcare sector, public infrastructure, and high urbanization level with a strong preference for the latest fashion trends.
Key Players
Some of the highly eminent firms in the global industry are Sumika Chemtex Co., Ltd. (Japan), NIPPON KAYAKU CO. LTD. (Japan), Kiri Industries Ltd. (India), Kevin India Co. (India), Huntsman International LLC. (US), Roop dyes and Intermediates (India), Colourtex (India), Archroma (Switzerland), IM Dye Chem (India), and more.
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