Global Colorants Market was valued at $41 billion in 2016, and is projected to reach $64 billion by 2023, registering a CAGR of 6.5% from 2017 to 2023. Colors are added to products to enhance their appeal. Pigment and dyes are the most common colorants added to food items, clothes, paper, and beverages, in liquid, liquid gel, gel paste, and powder form.
Increased demand from end-use industry such as plastic, paints & coatings, automotive, and packaging drive the market. Oversupply of dyes, leading to its decreased prices also restraints the market. Technological advancement is seen as a major growth opportunity for colorants manufacturers.
The global colorant market is segmented based on type, end-use industry, and geography. Based on type, it is classified into dyes and pigments. Based on end-use industry, it is divided into packaging, building & construction, automotive, textiles, paper & printing,continue reading →