Huntsman Corporation (US) and Zhejiang Longsheng Group Co., Ltd. (China) are Leading Players in the Synthetic Dyes Market
The global synthetic dyes market size is projected to reach USD 8.7 billion by 2027 from USD 6.3 billion in 2022, at a CAGR of 6.5%. The increasing demand of synthetic dyes and the growing industrialization and urbanization in the emerging regions such as Asia Pacific and South America, are driving the market. The growth of end use industries such as textile, food & beverage, building & construction, personal care, and pulp & paper which consume synthetic dyes, is driving the market for synthetic dyes.
The key players in the synthetic dyes market include Huntsman Corporation (US), Zhejiang Longsheng Group Co., Ltd. (China), Archroma (Switzerland), Lanxess AG (Germany), Heubach Gmbh (Germany), Atul Ltd. (India), Milliken (US), Kiri Industries Ltd. (India), Bodal Chemicals Ltd. (India), Cromatos (Italy), Kemira Oyj (Finland), and Solenis (US). These market leaders have adopted several organic and inorganic growth strategies including new product launches, acquisitions, and expansions between 2019 and 2022 to strengthen their position in the synthetic dyes market.
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Huntsman Corporation is one of the leading players in the global synthetic dyes market. The company manufactures differentiated organic chemical products globally. It offers a broad range of chemicals and formulations for various applications including coatings and construction, packaging, textile, and synthetic fibers. Huntsman Corporation provides synthetic dyes through its textile effects business segment mainly for the textile industry. The company has a global presence with operations in more than 121 locations across 30 countries. The company is focusing on strengthening its footprint by adopting several growth strategies including new product developments, partnerships, and investment & expansions. For instance, Huntsman Textile Effects introduced HIGH IQ Lasting Black eco program, based on Huntsman’s AVITERA SE Black reactive dye, for black color retention. This new color-retention program will help retailers, mills, and brands to meet global demand for eco-friendly black shades that retain their intense color even after repeated washing.
Zhejiang Longsheng Group Co., Ltd. is another leading player in the synthetic dyes market. The company manufactures a range of reactive dyes, acid dyes, eco-friendly disperse dyes, high strength dyestuffs, and intermediates. It predominantly serves its offerings to the textile industry. The company distributes its products in more than 50 countries worldwide. Zhejiang Longsheng Group Co., Ltd. has affiliated companies such as Zhejiang Longsheng Dyestuff Chemical Co. Ltd. and Shanghai Branch China Dyestuff Industry Co. Ltd. In 2010, the company further strengthened its presence in the dyes market with a successful acquisition of DyStar Group, a leading manufacturer of dyes and chemicals. It acquired DyStar with the help of Kiri Industries Ltd.
Related Reports:
Synthetic Dyes Market by Type (Acid Dyes, Reactive Dyes, Disperse Dyes, Direct Dyes, Solvent Dyes, Basic Dyes), Application, Form (Liquid, Powder), Structure (Anionic, Cationic, Non-Ionic), End-Use Industry, and Region - Global Forecast to 2027
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