With growth in the textile market the uptake of textile dyes is also increasing and is expected to reach $14 billion by 2027. Textile dyes industry now operates in full compliance with health and environmental standards to ensure elimination of carcinogenic dyes and water wastages.
The size of the textile dye market is estimated to be $11.1 billion in 2022. It is projected to grow at a compound annual growth rate of 4.6 percent between 2022 and 2027 to $14 billion. The growth is driven by higher demand in garments as well as demand for dyes for cellulose fiber, etc. The reactive dye segment of the dyes will grow at highest CAGR from 2022 to 2027.
Reactive dyes are those components of dye that impart the color to the textile products and show consistent growth.These dyes reduce water consumption and hence are better for the environment. Common fabrics for this type of dye include rayon, cotton, and some nylons. The major drivers for the segment are better environmental performance, low cost, and improved technical properties such as good wash-fastness and a wide range of color compatibility.
The use of textile dyes would be higher in viscose products is expected to grow at the highest CAGR during the forecast period. Viscose is lightweight and has a sinny finish and soft feel. The demand for viscose is high in the fast fashion industry. The highest demand for viscose is from the Asia Pacific Region.
