The Asia-Pacific dyes and pigment market is anticipated to grow at a considerable CAGR of 5.1% during the forecast period (2021-2027). The Indian government considers the chemical industry as a key growth driver, with the chemical sector expected to account for 25% of the manufacturing sector's GDP by 2025. Therefore this factor is influencing the Indian government to take initiatives to promote the country’s chemical industry. For instance, according to the India Brand Equity Foundation in October 2020, the Indian government urged agrochemical industry players to develop new molecules of international standards for farmers' benefit, while CropLife India, the industry body, proposed stable policies and regulatory regimes to boost sector growth. Additionally, in the Union Budget 2021-22, the Indian government contributed Rs. 233.14 crore (US$ 32.2 million) to the Department of Chemicals and Petrochemicals.
Browse the full report description Asia-Pacific Dyes & Pigments Market Size, Share & Trends Analysis Report by Type (Dyes (Reactive dyes, disperse dyes, Acid dyes, Others (Vat, Direct)), Pigments (Titanium dioxide, Inorganic pigments, Organic pigments)), By Application (Textile, Paints & Coatings, Plastics, Leather, Construction, Others (Paper, Printing ink)) Forecast Period 2021-2027 at https://www.omrglobal.com/industry-reports/asia-pacific-dyes-and-pigments-market
Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in March 2019, Bodal Chemicals Ltd announced that it has completed its expansion of manufacturing facilities by 6,000 Metric Tons Per Annum (MTPA) of Dyestuff plants. After the expansion, the company's net capacity of Dyestuff plants, excluding Liquid Dyestuff, is 35,000 MTPA. Furthermore, the company has completed a facility for the production of Thionyl Chloride (TC) Plant with a capacity of 36000 MTPA. In addition to that, production has begun at the company's unit VII, which is located in Vadodara, Gujarat.
Market Coverage
o By Type
o By Application
Key questions addressed by the report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Asia-Pacific Dyes and Pigments Market Report Segment
By Type
Pigments
By Application
Asia-Pacific Dyes & Pigments Market Report Segment by Region
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