Global Dyestuff (Black Color) Market: Snapshot
The global market for black color dyestuff is gaining substantially from the increasing demand for technical textiles across the world. Apart from this, the growing demand for black color dyestuff in the production of textile fibers is also boosting this market significantly. The market, which stood at US$1.1 bn in 2013, is anticipated to proliferate at a CAGR of 80% over the period from 2014 to 2020 and reach US$1.88 bn by the end of 2020.
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Although the global black color dyestuff market looks thriving, it may face severe challenges from the volatile prices of raw materials and the implementation of stringent regulations regarding the utilization of synthetic dyestuff in the years to come.
Polyester to Remain Most Valued Product
The global market for black color dyestuff is broadly evaluated on the basis of the product and the end user. Based on the product, the market is categorized into nylon, polyester, acrylic, and several other fibers, such as olefin. With a share of 56%, the polyester segment led the global market for dyestuff (black color) used for textile fiber in 2013. Research analysts expect this segment to report a faster growth rate than other segments in the near future, ensuring its future dominance. The rising demand for polyester fibers in apparels and home textiles is predicted to boost this segment remarkably in the years to come.
In terms of the application, the worldwide dyestuff (black color) market is classified into the apparels, home textiles, agriculture, protective clothing, and the automotive industries. In 2013, the apparel industry emerged as the key end user of black color dyestuff with a share of more than 53%. The segment is projected to continue as the leading consumer over the next few years. The demand for black color dyestuff will also increase in the agriculture, protective clothing, and the automotive industries in the near future, thanks to the augmenting demand for technical textiles across the world.
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Asia Pacific to Remain on Top
The worldwide market for dyestuff (black color) for textile fibers reports its reach across Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). Asia Pacific surfaced as the dominating regional market for black color dyestuff in 2013 with a share of more than 55%. Thanks to the increasing demand from various industries, such geotextiles, and the increasing production of textile fibers the Asia Pacific market for black color dyestuff is estimated to report exceptional rise in the near future.
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