Factors that Impact on the Top Textile Dyes Market Industry in Upcoming Years !

Northbrook, IL, USA, 2021-Aug-31 — /EPR Network/ —

The textile dyes market is projected to grow from USD 8.2billion in 2019 to USD 10.9billion by 2024, at a CAGR of 5.9% between 2019 and 2024. APAC is the largest consumer of textile dyes. Low-cost of manufacturing in APAC countries and high demand for textile dyes in APAC are the major factors driving the market.

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The key market players are the Huntsman Corporation (US), Kiri Industries (India), Zhejiang Longsheng Group Co., Ltd. (China), LANXESS AG (Germany), and Archroma Management LLC (Switzerland). These players have adopted various strategies, such as new product launch and merger & acquisition between 2015 and 2019, to enhance their market shares and expand their global presence.

Huntsman Corporation(US) is the leading manufacturer and supplier of differentiated organic and inorganic chemical products, globally. These products are used in a wide range of applications such as coatings, printing inks, textile, food, personal care, and cosmetics. The company operates through four business segments: polyurethanes, performance products, advanced materials, and textile effects. Under the textile effects segment, the company produces and sells textile dyes, textile chemicals, and digital inks to the textile industry. The segment accounted for 9% of the overall organizational revenue in 2018. In August 2015, Huntsman introduced 210 unique textile dye formulations for its range named PANTONE FASHION, HOME + INTERIORS. This collaboration between Huntsman (a global leader in textile dyes) and Pantone (a leading provider of the color system) is expected to help the textile industry produce eco-friendly home furnishings, and fashion and interior design products.

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Archroma Management LLC (Switzerland), which was founded in 2013,is one of the leading producers of specialty chemicals and colors. The company operates its business under three main segments, namely, textile specialties, paper solutions, and emulsion products. The company offers color solutions for a variety of applications, including textile, paper, paints, and coatings. The company has been a leading adapter of mergers & acquisitions. For instance, in September 2017, Archroma announced the acquisition of additional 26% shares (of which 49% was acquired in 2014) of M. Dohmen (Germany), a multinational group specializing in the production of textile dyes and chemicals. Moreover, in July 2015, Archroma acquired the textile chemicals business of BASF. This acquisition has helped Archroma acquire a  leading position as the supplier of chemical dyes to the global textile industry.