Black dyestuff market thriving
The global market for black colour dyestuff is gaining substantially from the increasing demand for technical textiles across the world.
The global market for black colour dyestuff is gaining substantially from the increasing demand for technical textiles across the world. Apart from this, the growing demand for black colour dyestuff in the production of textile fibres is also boosting this market significantly. The market, which stood at $1.1 bn in 2013, is anticipated to proliferate at a CAGR of 8 per cent over the period from 2014 to 2020 and reach $1.88 bn by the end of 2020.
Although the global black colour dyestuff market looks thriving, it may face severe challenges from the volatile prices of raw materials and the implementation of stringent regulations regarding the utilisation of synthetic dyestuff in the years to come.
The global market for black colour 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 fibres, such as olefin. With a share of 56 per cent, the polyester segment led the global market for dyestuff (black colour) used for textile fibre 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 fibres 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 colour) 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 colour dyestuff with a share of more than 53 per cent. The segment is projected to continue as the leading consumer over the next few years. The demand for black colour 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.