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Technological development and rising demand for eco-friendly dyes to spur growth in the textile dyes market

Technological development and rising demand for eco-friendly dyes to spur growth in the textile dyes market Source:
Date: 02-05-2012
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GIA announces the release of a comprehensive global report on the Textile Dyes market. The global market for textile dyes is projected to reach US$5.9 billion by the year 2017, propelled by the changing consumer perceptions, technological innovations, consumer spending and population growth. Development of innovative, eco-friendly dyes and chemicals is projected to ensure continued growth for the market in the years ahead.

San Jose, CA (PRWEB) April 30, 2012

Follow us on LinkedIn – Textile dyes, considered one of the oldest chemical businesses, has traversed a long way to emerge as a specialty business. Consumption of textile dyes is influenced by various factors such as demand for textiles, consumer spending and population growth. Fashion, a short-term factor, also plays a predominant role in determining the type of colors to be used. Textiles in dark or bright colors consume comparatively higher quantity of dyestuffs per textile volume, when compared to those in light colors. Demand for new dyes is increasing in accordance with growing preference for enhanced performance from new materials. Dye manufacturers and Textile producers worldwide are developing innovative products and processes to comply with strict environmental regulations. Future growth of the industry is dependent on changing customer preferences and rising infrastructure demand in emerging countries. Development in technical expertise and achievement in R&D activities are expected to bring about new dyeing technologies in the industry.

The years 2008 and 2009 were primed as difficult years for the textile chemicals business as the industry dealt with significant increase in feedstock prices and low demand from the textiles sector. As the market is highly raw material intensive, profit margins took a hit as result of increasing pricing pressures, amid high energy and transportation costs, and capacity underutilization. Companies, in order to improve the operating margins focused on reducing costs and increase prices to offset the steep decline in sales. A key trend in the textile dyes market is the migration of production facilities from high-cost bases to low-cost Asian countries. Industrialized nations such as the US and Europe witnessed increased shifting of operating base to emerging markets in Asia. Low manufacturing costs, trained labor and cheaper raw materials in China and India have resulted in greater concentration of production activity in these two countries. The Asia-Pacific region has emerged as a strong competitor to dye manufacturers in the West. Actively supported by the government with a host of measures such as subsidies and lower labor and environmental costs, Asian producers play an increasingly important role on the global front.

With ecological concerns gaining attention in the textiles industry, the global dye industry is undergoing a change in product mix. The recent years witnessed various dyes being banned across the globe due to environmental concerns. With the increasing demand for eco-friendly textile chemicals from textile manufacturers, companies are recognizing the need to increase R&D spending on development of innovative chemicals and dyes. Formaldehyde content in textiles is a growing issue especially in the US and Europe. In response to the growing concerns, major players such as BASF introduced formaldehyde-free Helizarin pigment printing system. Companies also offer enzyme-based technologies that are capable of replacing textile chemicals.

Asia-Pacific represents the largest and fastest growing market for Textile Dyes, as stated by the new market research report on Textile Dyes. China, Taiwan and Korea have a stronghold in disperse dyes, while India holds dominant position in production of reactive dyes. China occupies the top position in the production and export of reactive, direct, disperse, acid and basic dyes. Ever since the policy of open-economy began to take shape, the textile industry in the country has undergone drastic changes to cope with the increased demand for textiles exports. Similarly, the Indian dye industry is buoyed by factors such as developed chemical industry and high entrepreneurial skills along with sufficient availability of feedstock. Fiber Reactive Dyes represents the largest segment in the global textile dyes market in terms of value sales. Asian countries such as India and China lead in the global production of reactive dyes. Sulphur and basic dyes represent high growth potential over the next few years driven by specialty and customized dyeing requirements.

Select major players profiled in the report include Allied Industrial Corp., Alps Industries Ltd, Anand International, Atul Ltd, Big Sunshine International Co., Ltd, Clariant AG, Day-Glo Color Corp, DyStar, Eurodye CTC, Huntsman Corporation, Sumitomo Chemical, among others.

The research report titled “Textile Dyes: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a strategic review of the textile dyes industry, key market trends, review of all the major segmnet, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report provides annual sales estimates and projections for Textile Dyes market for the years 2009 through 2017 by the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key segments analyzed include Acid Dyes, Basic Dyes, Direct Dyes, Disperse Dyes, Reactive Dyes, Sulfur Dyes, Vat Dyes, and Other Dyes. The study also provides a historic review for the years 2003 through 2008 for an additional perspective.

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