Solvent Red Market is Expected to be Flourished by Growing Textile Manufacturing Industry

 

Solvent Red Market

Solvent dyes, also known as soluble dyes, are organic-based dyes that are soluble or dispersible in water or organic solvents. Solvent Red dyes are one of the major types of solvent dyes which find wide application in the textile industry for dyeing of natural and synthetic fibers. The global textiles market has been witnessing steady growth over the past few years with the growing population and increasing disposable income in developing economies. Countries such as China, India and Bangladesh have emerged as major textile manufacturing hubs and account for a sizeable share of the global textiles production. This growing textiles manufacturing industry has significantly contributed to the demand for solvent dyes including solvent red dyes.


The global Solvent Red Market is estimated to be valued at US$ 2.18 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Growth of the textiles industry and increasing manufacturing of dyed textiles (as referred from heading) has been a key driver bolstering the demand for solvent red dyes over the years. Solvent red dyes find extensive application in dyeing of textiles made from both natural as well as synthetic fibers such as cotton, nylon, polyester, and acrylic. According to data from ITMF, the global production of synthetic fibers reached over 110 million tons in 2021, thus demonstrating the growing textiles manufacturing industry globally. This coupled with increasing demand for affordably dyed apparel and home textiles from price-sensitive consumers in emerging nations is expected to further propel the solvent red market during the forecast period. Additionally, steady growth of end-use industries such as apparels, home furnishing and automotive interiors (industry using dyed textiles) is also expected to support the market growth of solvent red dyes over the coming years.
Segment Analysis

The global solvent red market is segmented into dyes and pigments. The pigments segment currently dominates the market and accounts for nearly 65% share in 2023. The pigments are highly adopted in printing inks, paints and coatings. Moreover, pigments provides better lightfastness and weather resistance properties which increases their use in outdoor applications. This drives the growth of pigments segment in the solvent red market.

PEST Analysis

Political: The regulations regarding toxic solvent emissions are becoming stricter. This may hamper the production of solvent dyes. However, manufacturers are focusing on developing eco-friendly solvent systems which will boost the market growth.

Economic: Rising industrialization in developing nations such as India and China is positively impacting the demand for printing inks and coatings. This is propelling the solvent red market growth. Additionally, growing construction industry worldwide is augmenting the paints and coatings market.

Social: Increasing population and changing lifestyle is driving the packaging industry. There is a rising demand for customized and attractive packaging products which utilize solvent red dyes and pigments. This acts as a growth opportunity for the market.

Technological: Manufacturers are investing in R&D to develop new pigment grades with improved properties. advancement in pigment production technologies help in enhancing pigment performance characteristics such as light fastness. This favors the market expansion.

Key Takeaways

The Global Solvent Red Market Demand is expected to witness high growth over the forecast period owing to extensive usage of solvent red pigments in various end-use industries. The Asia Pacific region currently dominates the market and accounts for over 40% share. China and India are the fastest growing markets in the region due to expanding manufacturing sector.

Regional analysis

The Asia Pacific solvent red market is growing at a brisk pace due to increasing industrial activities in the region. Growth of packaging, printing and construction industries has augmented the demand for solvent red pigments in countries such as China, India, Indonesia and Vietnam. China alone accounts for over 30% share of the regional solvent red market owing to presence of leading pigment producers. Moreover, supportive government policies promoting manufacturing sector across Asia Pacific nations will further propel the market growth.

Key players

Key players operating in the solvent red market are Clariant International Ltd., BASF SE, Huntsman Corporation, Lanxess AG, Dow Chemical Company. Clariant International Ltd. is one of the largest producer of solvent dyes globally. BASF SE offers wide range of solvent red pigments for printing inks, paints and coatings applications.

For more insights, Read- https://www.pressreleasebulletin.com/solvent-red-market-trends-size-and-share-analysis/

Comments

Post a Comment

Popular posts from this blog

The Notchback Market is Estimated To Witness High Growth Owing To Rising Demand From Emerging Economies

Image
  Notchback Market Market Overview: A notchback is a body style of cars characterized by a gently sloped rear window and greenhouse. Notchbacks provide practical interior space with good cargo capacity. They offer balanced interior volume for passengers and cargo along with sleek and stylish exterior design. The body style has advantages like no C-pillar which enhances visibility compared to sedans. Market key trends: The growth of the notchback market is attributed to rising demand from emerging economies like China, India and Brazil. These nations have growing middle-class population and increasing disposable income which is driving vehicle ownership. Moreover, notchback body style is quite popular in these developing markets due to its spacious cabin combined with stylish looks at affordable prices. Leading automakers are launching various notchback models to cater to the surging demand from developing countries, which is fueling the growth of the notchback market size during ...
Read more

The increasing demand for adhesives and sealants is anticipated to open up the new avenue for Petroleum Resins Market

Image
Petroleum Resins Market  Market Overview: Petroleum resins are amorphous thermoplastic polymers made from petroleum-based feedstock materials, through either thermal or catalytic polymerization. They are mainly used for applications such as adhesives, inks, paints, rubber compounding, and others. Different types of petroleum resins include C5 resins, C9 resins, hydrogenated hydrocarbons (HHCs), and modified and specialized petroleum resins. Among applications, adhesives and sealants hold the largest share in the petroleum resins market owing to increasing use of petroleum resins in hot melt and pressure sensitive adhesives. Market Dynamics: The increasing demand for adhesives from packaging and construction industries is a major driver for the petroleum resins market. According to statsista, the global adhesive market was valued at over US$ 53.3 billion in 2020 and is projected to reach around US$ 78 billion by 2027, growing at a CAGR of over 5.7% during the forecast period. Pe...
Read more

Global Synthetic Biology Market Analysis: Size and Share

Image
Synthetic Biology Market  Synthetic biology encompasses the design, construction, and redesigning of biological parts, devices, and systems, either non-existent in nature or reengineered from existing biological systems. The market is experiencing significant growth, driven by the increasing demand for personalized medicine and healthcare. Applications of synthetic biology span pharmaceuticals, chemical production, agriculture, environmental protection, and renewable energy. Advancements in synthetic biology contribute to the rapid manufacturing of biotherapeutics, fostering the development of personalized medicine and more cost-effective healthcare solutions. The Synthetic Biology Market is projected to be valued at US$ 31,693.59 million in 2023, with an expected CAGR of 28% during the forecast period from 2023 to 2030, according to a newly published report by Coherent Market Insights. Key Market Trends: A prominent trend in the Global Synthetic Biology Market is the escalat...
Read more