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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Colorants Market Growth
Colorants are substances that impart colour to modify or change the hue of a material. Colorants work by absorbing different amounts of light at varying wavelengths and reflecting or transmitting the remaining light in scattered or straight lines.
The demand for paints and coatings is rising rapidly from the automotive sector to protect the material from weathering and corrosion among others. This rising utilisation by the automotive sector is resulting in colorants market growth.
The colorants market dynamics and trends are being boosted by the increasing global population and rising disposable income of consumers in developed and developing countries. Further, the demand for high-quality clothing and packaged food and beverages is also expected to drive the growth of the colorants market.
Premature greying of hair due to unhealthy eating habits and stressful lifestyle along with the growing trend of hair coloring among millennials and gen-z has increased the demand for dyes that are mostly made using colorants.
Colorants Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of approximately USD 41.51 billion in 2023.
The market is estimated to grow at a CAGR of 6% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 70.33 billion by 2032.
The major drivers of the market include rising focus on developing eco-friendly colorants and growing construction activities.
The key trends of the market include rising demand for paints and coatings from automotive sector and growing requirement for high quality and natural colorants for textile applications.
The significant forms of colorants available in the market are dyes, pigments, color concentrates, and masterbatches.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The market key players are Cabot Corporation, Basf SE, DIC Corporation, Sun Chemical, Clariant AG, Lanxess AG, Avient Corporation, Heubach GmbH, and Penn Color, Inc., among others.
The market is categorised according to color, which includes natural and synthetic.
Based on the composition, the market is divided into organic and inorganic.
Based on the application, the market is divided into textile, automobiles, food, beverages, paper, printing, building and construction.
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