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The global organic functional dyes market was valued at USD 1,936 Mn in 2021 and is estimated to record a revenue of US$ 3,214.0 Mn by the end of the year 2027. In terms of value and volume, the global organic functional dyes market size records a sustainable growth at a compounded annual growth rate (CAGR) of 8.8% and 8.0% respectively.
The growth in the global organic functional dyes market is carried by several factors such as the increasing use of organic functional dyes in printing inks. Functional dyes are used in 3D printing methods, which have grown in prominence as the cost of progressive printers has decreased, owing to the expiration of several patents. Due to rising demand for eco-friendly products such as textile printing inks and increased use of organic dyes in paints and coatings. As per the research, in the last five years, internet searches for sustainable goods increased by 71%. Furthermore, consumers are willing to pay more for sustainable and eco-friendly products. As per the survey in 2020, around 64% of Americans were willing to pay for environmentally friendly products.
The report ‘Global Organic Functional Market’ published by Astute Analytica spans 274 pages that include information, statistical data, trends, and opportunities related to the market. The report details 12 chapters that include 37 tables and 51 figures. It provides a comprehensive study of the global organic functional dyes market covering different regions across the globe and all the segments.
The report provides a detailed and comprehensive study of the global organic functional dyes market along with competitors' mapping. The report tracks regions that include North America, Europe, Asia Pacific, and the Rest of the world.
As per regional analysis, Europe accounted for a substantial organic dyes market share in 2020. As the leading pigment manufacturers of Europe are acquiring the global leaders in the market. For instance, Hoover Color Corporation, a pigment manufacturer established in the United States, was acquired by Cathay Industries, a pigment manufacturer based in Belgium, Europe, in June 2016 to serve a wider pigment customer base in the country.
The report of the global organic functional dyes market provides the market analysis based on various segments such as type, application, and external energy. As organic functional dyes can change their property stimulated by external energy such as light or heat and is widely used for display devices mainly in the information and electronics industry. Therefore, the light energy segment accounts for US$ 41.4 Mn revenue in the year 2020. As it absorbs light in a specific wavelength range from the ultraviolet light range to the visible light and near-infrared light range (“light selective absorption”) and produces various colors in the visible light range.
The market is segmented into Type and sub-segmented into Leuco Dyes. Global Leuco Dye Market is estimated to witness a rise in revenue from US$ 354.4 Million in 2021 to US$ 522.3 Million by 2027.
A Glimpse of Global Organic Functional Dyes Market Report
The report provides an in-depth analysis of the global organic functional dyes covering all growth factors and opportunities in the market.
Price analysis of different regions was conducted to compare the average cost of the organic functional dyes across various regions. Wherein, in 2020, the average pricing in the Asia Pacific is higher than other regions and it is expected to grow at an annual growth rate of 8.0% over the forecast period.
The report also includes analysis on the basis of Porter's five forces in which it says that the bargaining power of customers is high, as the ability of customers to put the firm under pressure, which also affects the customer’s sensitivity to price changes.
The report further provides covid-19 analysis on the global organic functional dyes market, including a graphical representation of the impact of the covid-19 pandemic and its recovery, reflecting a downwards curve in the graph during the pre-covid period. The delay caused by the covid-19 pandemic has caused an increase in raw material prices to adversely affect the organic functional dyes. Compared to 2020, the price of functional dye is expected to go up from the average prices in the same time frame, which will have a negative impact on the dependent market, such as medical diagnosis, textiles, robotics, electronic sensors, imaging, and other allied sectors. Furthermore, the report includes an analysis of key players in the organic functional dye market across the world.
Competitive Coverage: Key Players
The global organic functional dyes market report provides a detailed study of the market covering company profiling of several key players in the market across the globe.
The details covered in the company profiling include a business overview, key officials, strategic outlook, product list, recent developments, and company financials. Key players in the report include Associated Dye Stuff Pvt. Ltd., Cathay Pigments, Denim Dyes & Chemicals, Flint Group, Huntsman Corporation, Kiri Industries, KISKO, Megha International, Shanghai Ruiyan Chemical Technology Co., Ltd., Sudeep Industries, Taiyo Fine Chemicals, Yamada Chemical Co. Ltd., and Yamamoto Chemicals.
The market is analyzed to be monopolistic competition in nature as the cumulative market share of the four major players is close to 23%. However, it is projected to shift towards an oligopoly nature in the future years. A company such BASF, Clariant, Connect Chemical, and Heubach Gmbh hold the highest market share in the global organic functional dyes market, holding a cumulative ratio of 23.20%.
Global Organic Functional Dyes Market- Segmental Overview
The global organic functional dyes market is segmented into dyes type, external energy, applications, and region.
Depending on the type of dyes, chromic dyes hold the highest market share and will continue to dominate over the forecast period. As they are exceptionally stable, especially when stored away from light and heat. Furthermore, if these dyes are stored in a dark, cold environment, they may have a shelf life of up to 12 months and can be used in a variety of applications. Moreover, photochromic dyes provide numerous advantages and can be used exclusively well, both aesthetically and scientifically, owing to their properties to easily mixed into a variety of solvents, these chemical pigments are appropriate for a wide range of chemicals:
By External Energy
|Market Size Value in 2021||US$ 1,936 Mn|
|Expected Revenue in 2027||US$ 3,214.0 Mn|
|Unit||Value (USD Mn)|
|Segments covered||By Type, By Technology, By Size, By Material Type, By Application, By Distribution Channel|
|Regional Analysis||By Type, By External Energy, By Application, and Region|
|Key Companies||Associated Dye Stuff Pvt. Ltd., Cathay Pigments, Denim Dyes & Chemicals, and other prominent players.|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
Chromic dyes, leuco dyes, fluorescent dyes and phosphorescent among others are some major types of organic dyes available in the market.
Organic dyes are used in textiles, optical data storage, energy conversion, gas sensors, medical diagnosis, thermo regulation, 3D-display, LCDs, robotics and moth/mosquito repellant dyes among others.
In 2020, the global organic functional dyes market accounted US$ 1,891.7 Mn.
BASF, Clariant, Connect Chemical, Heubach Gmbh, Kiri Industries are some of the key players in the global organic functional dyes market.
The organic functional dyes market is segmented by type, by external energy, and by application.
The organic dyes market growth is attributed to increase in application of organic functional dyes in printing inks.
Asia Pacific organic dyes market is expected to grow at the highest growth rate in the global marketplace.
The key challenge in the organic dyes market is high cost of raw material.
Textile industry holds the highest share of 20% in the global organic dyes market in 2020.
In 2020, chromic dyes hold the highest market share in organic dye market.
The CR4 ratio of the global organic functional dye market is 23%.
Procurement, manufacturing, marketing and end users are major elements of value chain of organic functional dyes market.