A recent research report published by Research and Markets has said that the global textile dyes market was of USD 7.34 billion in 2017. The report forecasted a growth of CAGR of 6.00% from 2017 to 2022 and reaching to USD 9.82 billion. The preview of the report said that the growing demand is mainly because of the growing demand in the fibers like cotton, polyester, and viscose. However, industry insiders opined that the growth will be in fact the impact of the increasing cost of dyes intermediates and environmental compliances.
Dr. NNM Mahapatra, President, Colorant Ltd. said that fluctuating supply and prices of H ACID is affecting dyestuff manufacturing and its prices. As per his speculation, the intermediary supply will get more inflexible and more shaking in coming days which will have a great impact on the sector. Stringent environment compliances in China and India will put tremendous impact as well.
Textile dyestuffs users in Bangladesh expressed their concerns about fluctuating price and supply of dyestuffs. They said that the market is getting more monopolized every year and the users are not getting much space. Strict environmental pressure and compliances to the textile manufacturers will have the greatest impact on the market they opined. Everyday manufacturers are trying to choose more efficient and environment-friendly dyes to reduce the cost of manufacturing and to reduce the impact on the environment.
The report highlighted the future demand of cotton saying the fiber will see the fastest growth in coming days. The report also emphasized that properties like durability and abrasive resistance of textile dyes are the key drivers for the expected increase in demand from this segment. The report concluded that as cotton has those properties, the demand of the fiber will grow fast and so the demand of dyestuffs required to dye cotton will increase significantly in coming days.
Meanwhile, industry insiders differed in opinion saying cotton as a cash crop will face tremendous competition with food grains in coming days and so its production and cost will increase. And this will result in a reduction of cotton demand in the textile world.
Industry insiders opined that demand of regenerated fibers like viscose, lyocel will increase very fast. While polyester as a fiber will continue to grow as well.
Meanwhile, industry insiders also opined to this reporter that with the increasing demand of last end design alteration on clothing, demand for printing will increase significantly in coming days. Hence demand of dyes usable in digital printing heads and printing paste will increase. The demand for printing inks will also increase significantly.
The textile dyehouses are looking for cleaner dyestuffs and processes. And so they are working hard to reduce wastage. The demand for high-performance dyes, pigments and inks will be on the rise. On the contrary low efficient dyes will face big market challenges.
Industry insiders also opined that the consumption of dyestuffs may go down in coming days, mainly because of growing demand of efficient dyes and an increase of printing as a method of coloring. However another trend, washing and vintage worn-out looked fashion will offset this trend and eventually the demand of dyes in volume is expected to remain almost stable.
The report eventually identified that the APAC region is expected to witness the highest growth during the forecast period. The growth in this market is driven by the high demand for textile and fabrics in APAC countries owing to the large regional population and large textile manufacturing bases in the region.
Among the APAC countries, Bangladesh is going to get one of the fastest market growths in coming days mainly due to its competences in making fashion apparel for the west. With the increasing demand of Bangladeshi apparels, fabric processing is also increasing significantly in Bangladesh coming down mainly from China. All together Bangladesh’s importance for dyestuff manufacturers is expected to increase very significantly.
The dyestuff manufacturing industry is becoming more marginalized and polarized day by day. While its users are there all around the world, only a handful of countries are manufacturing dyestuffs. Influence of India as dyestuffs manufacturing is increasing day by day. While China is taking more suitable policy for exporting dyes intermediates, dyestuff manufacturing industry is more moving towards India. However, China still remains as one of the leading dyestuff manufacturers in the world.