The demand within the global textile dyestuff market is rising at the back of advancements in the clothing industry. The need for dying garments and apparels is amongst the leading drivers of market demand. Furthermore, textile dying holds tremendous significance for the chemical industry as it helps in analysis of dye properties. Textile manufacturers are required to cater to the needs of a heterogeneous mix of consumers. This factor, coupled with availability of improved dying technologies, has played a vital role in market growth.
The problem of sustainability and waste management is a matter of concern within the textile industry. The growing contribution of textile manufacturers to water pollution has been questioned by environmentalists. This factor could hamper the growth of the global textile dyestuff market in the years to follow. However, a research conducted at the Texas Tech University offers hope for market vendors. Researchers from the University have developed a method to separate toxic dyes from wastewater. Hence, the global textile dyestuff market is expected to earn sustainable revenues at the back of improvements in waste management technologies.
Chemical engineering has transcended as a lucrative area of growth for regional territories. The importance of textile dying in this sector has generated fresh revenues within the market. Furthermore, University graduates and research scholars have shown tremendous interest in the field of textile manufacturing and dying. This factor has also played to the advantage of the vendors operating in the global textile dyestuff market. Dearth of trained engineers across textile manufacturing units has narrowed down, and this is a positive sign for the market players.
Study finds that the global textile dyestuff market would expand at a moderate CAGR of 5% over the period between 2018 and 2026. Furthermore, the total value of the global textile dyestuff market stood at US$ 5 bn in 2017, and this figure to expected to increase. The growth of the global textile dyestuff market largely relies on advancements in the clothing and apparel industry.
Popularity of Plant-Based Dyes to Drive Market Demand
The demand for designer clothing is on a rise in recent times. Fashion trends dominate the lifestyles of people, and this factor has closely impacted the growth of the global textile dyestuff market. Furthermore, as textile manufacturers embrace green manufacturing procedures, investors have shown more confidence in the textile dyestuff industry. Henceforth, the global textile dyestuff market is projected to grow at a stellar pace in the years to follow.
Plant-based textiles have captured the attention of the consumers in recent times. Furthermore, concerns related to biodegradability of textile dyestuff has also led to increased adoption of plant-based materials. Buffy, a New York-based bedding company has launched natural dyes made out of plants. The company used fruits and spices to colour the bedsheets. This development is expected to drive demand within the global textile dyestuff market.
Efficiency of Textile Manufacturers in Waste Management
The global textile dyestuff market is slated to ride along a lucrative growth path. Textile manufacturers have made earnest efforts to improve their waste management procedures. This factor is expected to generate huge-scale revenues within the global textile dyestuff market. Moreover, the need for dye testing has also created a large playfield of opportunities for the market vendors. Some of the leading vendors in the global textile dyestuff market are BASF SE, Archroma International, Huntsman International LLC., Bozzetto Group, Lanxess AG, and Dystar Group.
These insights are based on a report on Textile Dyestuff Market by Transparency Market Research.