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The global synthetic dye and pigment market, a part of the chemicals industry, grew at a compound annual growth rate (CAGR) of around 2%, during the historic period, interest rates in most developed countries were very low. This created a flow of cheap money for investment, both in developed and developing economies. It also encouraged borrowing and discouraged saving in advanced markets, helping to drive spending
In the forecast period, the global synthetic dye and pigment market size is expected to be over $60 billion by 2021, growing at a CAGR of nearly 3%. The global economy is expected to go through a continuous period of steady growth during the forecast period. The US economy was already showing strong growth in 2017, and this is likely to continue during the forecast period. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global synthetic dye and pigment market in the future.
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There has been an increasing migration of manufacturing capacities from the West to low-cost countries in the Asia-Pacific region. This is driven mainly by stringent environmental compliance issues in Europe and North America. Gradually maturing production technologies and the presence of strong downstream customer bases within countries such as China and India have been propelling demand for pigments in these countries in recent years
Major companies in the synthetic dye and pigment market, offering new technology include BASF SE, Clariant International Ltd , Flint Group , Huntsman Corporation , Dic Corp.
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