Colorants Market – Overview
The market is foreseen to gross revenues worth USD 68.65 billion by 2023 while expanding with a 5.4% CAGR in the forecast period.
The mounting demand for product differentiation and improving overall product quality is among the prime causes fuelling the rise of the colorants market globally. The intensifying usage level of colorants in personal care products, foods and beverages, and plastic products is expected to aid the market’s growth in the forecast period positively.
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The aesthetic applications of colorants have grown dramatically due to rising focus on product packaging and presentation. Market reports connected with the chemicals and materials industry have been made accessible by Market Research Future who publishes reports on other sectors that have been recently put out along with a report on this industry.
The innovation in the products and services is the essential factor that is intensifying the market’s productivity and shaping the trends that are gaining prominence in the market. The external factors are stimulating the market growth which is dependent on the practices and the strategic roadmaps that are used by market businesses.
The principal contenders in the market are Sun Chemical Corporation (U.S.), E. I. du Pont de Nemours & Company (U.S.), DIC Corporation (Japan), PolyOne Corporation (U.S.), Lanxess AG (Germany), Huntsman Corporation (U.S.), BASF SE (Germany), Clariant AG (Switzerland), Cabot Corporation (U.S.), Flint Group (Europe), and Others.
Sep 2018 Lonza Pharma & Biotech is launching Capsugel Colorista, a high-quality capsule based on an “all-colorants” formulation. The new capsule additionally increases the Lonza Capsugel R&D offering. Colorista capsules comprises of a broad selection of colorants suitable for use in major markets, permitting pharmaceutical customers to use a wide array of colors in both Vcaps Plus (HPMC) and Coni-Snap gelatin.
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The segmentation of the colorants market is carried out based on types, source, composition, end users and region. Based on composition of colorants, the market is segmented into inorganic and organic colorants. Based on source of colorants, the market is segmented into synthetic and natural source. By types of colorants, the market is segmented into pigments, dyes, masterbatches, coatings, paint, inks, and others. Based on end-user industry, the market is segmented into flavor enhancers, additives, preservatives, acidity regulators, and others.
The Asia Pacific region is the major region in the market for colorants owing to the demand in numerous end-user industry such as automotive, textiles, packaging, and building & construction specifically in China region followed by India, and Japan. Moreover, the growing demand for the food & beverage industry in the Taiwan, India, and South Korea has contributed to making the Asia Pacific region the largest consumer in the market globally followed by the growth in the consumption of the colorants market in the European region.
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