The Global Dyestuff for Cotton Market was valued at US$ 2.21 billion in 2016, according to a new report published by Coherent Market Insights. Dyes are aromatic and ionizing compounds, with affinity towards the substrate it is applied to. This can be categorized into natural and synthetic dyes. Synthetic dyes use various color modifiers such as methyl and ethyl group in order to alter the color of the dyes, which finds wide applications in various end use industries such as textile (non-woven), healthcare and personal care. The increasing demand for dyestuff from textile (non-woven) is rapidly growing in the Asia Pacific region, as China and India are major exporters of textile products. This is mainly attributed to major cotton production and cheap labor costs in the region. However, due to increasing labor cost in India and China is influencing manufacturers to pursue favorable growth avenue in countries such as Bangladesh, Nepal, and Vietnam. Dyestuff are widely used in coloring various garments, this in turn creates a favorable growth environment for the dyestuff for cotton market. For instance, in 2016, Huntsman International LLC. Collaborated with Viyellatex Group, Bangladesh-based vertically integrated group of textile manufacturing companies. In this collaboration, Huntsman International LLC will provide support for streamline operations and optimize processes, train technical staff, and make recommendations to help improve yield and productivity.
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Dyestuff are manufactured using petroleum and its derivatives as primary feedstock. However, stringent government regulations by various economies and fluctuations in prices of raw materials are expected to restrain growth of the market over the forecast period. India is anticipated to hold dominant position in dyestuff for cotton market over the forecast period, owing to favorable government policy coupled with rising economy and growing textile industry. For instance, according to India Brand Equity Foundation (IBEF)—a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—the Indian textiles industry accounted for US$ 108 billion in in 2016, and it is expected to reach US$ 223 billion by 2021.
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