A new report published by MarketsandMarkets indicates that the low cost of manufacturing in countries, such as China, and the high demand for textile dyes in the Asia-Pacific (APAC) region as a whole are the key factors driving the demand for textile dyes.
The textile dyes market is projected to be worth $10.9 billion by 2024, with disperse dyes estimated to be the largest type of dye in the market. APAC contributes more than 50 percent to the global disperse dyes market. China is one of the leading producers and consumers of textile dyes in the region.
The strengthening economies of countries such as China and India are attracting new investments in APAC. The report also notes that the growing demand and policies regarding the use of environmentally friendly and low-VOC products have led to innovation in the APAC textile dyes market.
Viscose is the fastest-growing fiber type in the textile dyes market, the report says. The viscose market segment is growing because the fiber’s properties make it similar to cotton; it can be manufactured to resemble silk; and its applications include metallic threads and novelty fibers.
The full report, “Textile Dyes Market By Dye Type (Direct, Reactive, Vat, Basic, Acid, And Disperse), Fiber Type (Wool, Nylon, Cotton, Viscose, Polyester, And Acrylic), And Region (APAC, Europe, And North America) – Global Forecast To 2024,” can be found online.
MarketsandMarkets provides quantified B2B research on 30,000 high-growth niche opportunities/threats.