Colorants are compounds that are used to impart color to a substance. A colorant can be a dye, an ionized solution, or a pigment. Beside from being used to impart colors, colorants are also used to hide the power of a substance or product. Colorants are used widely across different industries for various applications such as for clothes, plastics, paints, plastics, photographs, inks, prints, and ceramics. The source of every type of colorant is either inorganic or organic. The mineral colorants boast of definite chemical compositions, consistent chemical behavior, and recognizable physical characteristics. The organic colorants comprise of carbon with oxygen, sulfur, hydrogen, and nitrogen as well as other minor elements. The Colorants are derived from various vegetable sources or are made synthetically. The Global Colorants Market is expected to expand at a gradual CAGR of 5.4% with a projected reach of USD 68.65 billion by the end of the forecast period of 2023.
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Market Research Future (MRFR) reveals in its extensively curated and in-depth study of the market that the proliferating demand for product differentiation and ameliorating product quality are amongst the primal reasons that are fueling the rise of the Colorants Market at a global scale. The rising level of colorant usage for personal care products, plastic products, and foods and beverages is slated to help accelerate the growth of the market during the forecast period. Additionally, the expanding number of operations being detected across industries such as textiles, packaging, and pharmaceutical will further add to the market expansion.
Market Segmentation:
The Global Colorants Market is typically segmented based on Composition, Types, Source and End-Users.
Based on Composition, the market segmentation is segmented into organic and inorganic colorants.
Based on Source, the market for Colorants is divided into natural and synthetic source.
Based on Types, the market comprises of pigments, dyes, inks, masterbatches, coatings, paint, and others.
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Based on End-User Industry, the market segmentation includes flavor enhancers, additives, preservatives, acidity regulators, and others.
Lastly, Based on End-User, the market segmentation comprises of pharmaceutical, textile, personal care, foods & beverages, building & construction, paper & printing, automotive, and others.
Regional Analysis:
The regional segmentation of the Global Colorants Market comprises of North America, Europe, APAC, Latin America, and Middle East & Africa.
Owing to high demand from various end-user industry such as building & construction, packaging, textiles, automotive, especially in China and then India and Japan, the APAC region holds the largest market share of this product. Furthermore, the increasing level of demand for the F&B industry in India, South Korea, and Taiwan have made the Asia-Pacific region the largest consumer of the Global Colorants Market.
Following APAC, Europe comes-in second and then North America. The third position of North America is due to a large number of applications of pigments and dyes in various sectors. The Latin America and Middle Eastern region has also witnessed in the growth of the Colorants Market owing to the vast array of applications therein, such as for personal care, automotive, packaging, textiles, paper & printing, personal care, F&B, building & construction, and others.
Competitive Analysis:
The prominent players of the Colorants Market are E. I. du Pont de Nemours & Company (U.S.), Cabot Corporation (U.S.), Clariant AG (Switzerland), PolyOne Corporation (U.S.), Flint Group (Europe), DIC Corporation (Japan), BASF SE (Germany), Huntsman Corporation (U.S.), Sun Chemical Corporation (U.S.), LANXESS AG (Germany), and others.
On January 2018, Organic Dyes and Pigments LLC announced a partnership deal with Farbenpunkt Gmbh. The move is aimed at providing unparalleled color, adhesion, and washing abilities of fabrics for the dying and the digital textile printing industry.
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