Overview and Scope
Vat dyes usually referred to as Oil colors, are natural coloring substances that can be applied to cloth by immersion, spraying, or pad printing. They are primarily used for printing on leather, wood, and other materials.
Sizing and Forecast
The vat dyes market size has grown rapidly in recent years. It will grow from $1.76 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to textile industry growth, rise in demand for sustainable dyes, steady growth in apparel industry, regulatory compliance, industrialization and urbanization..
The vat dyes market size is expected to see rapid growth in the next few years. It will grow to $2.89 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to focus on sustainable practices, increasing awareness of dye properties, regulatory emphasis on eco-friendly dyes, shift towards organic dyes, textile digitization.. Major trends in the forecast period include demand for eco-friendly products, educational initiatives and training programs, expansion in home textile sector, development of high-performance dyes, rise in textile recycling..
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Segmentation & Regional Insights
The vat dyes market covered in this report is segmented –
1) By Product Type: Carbazol Derivatives, Indigo Derivatives, Anthraquinone Derivatives, Thio-indigo Dyes, Others Product Types
2) By Methods: Dip Dyeing, Pad Dyeing
3) By Application: Wool, Cotton, Fiber, Viscose Rayon, Leather, Others Applications
Asia-Pacific was the largest region in the vat dyes market in 2023. The regions covered in the vat dyes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for textiles is expected to propel the growth of the vat dyes market going forward. Textiles are materials composed of fine threads or filaments that are either natural, synthetic, or a combination of both. Vat dyes are primarily utilized in textiles as it has excellent chlorine fastness and is used for printing on cotton, cellulosic fibers, and textile materials, as a result, increasing demand for textiles increases the demand for the vat dyes market. For instance, in June 2022, according to a report shared by the Textile Industries Media Group LLC., a US-based domestic limited liability company, the value of US textile exports was $25.3 billion in 2020 and increased to $28.4 billion in 2021. The US exported $16.1 billion worth of textiles and apparel to the western hemisphere in 2021, a 6.5 percent increase over the previous five years. Therefore, demand for textiles is driving the growth of the vat dyes market.
Key Industry Players
In June 2021, Sun Chemical (a member of the DIC group), a US-based chemicals company acquired BASF SE., for an undisclosed amount. Through this acquisition, Sun Chemical aims to expand its product portfolio for electronic displays, cosmetics, coatings, inks, plastics, and specialty applications and also highlights its dedication to providing solutions that are specifically tailored to customers’ needs. BASF SE is a Germany-based chemical company producing VAT dyes for textile industry.
The vat dyes market report table of contents includes:
1. Executive Summary
2. VAT Dyes Market Characteristics
3. VAT Dyes Market Trends And Strategies
4. VAT Dyes Market – Macro Economic Scenario
5. Global VAT Dyes Market Size and Growth
…
31. Global VAT Dyes Market Competitive Benchmarking
32. Global VAT Dyes Market Competitive Dashboard
33. Key Mergers And Acquisitions In The VAT Dyes Market
34.VAT Dyes Market Future Outlook and Potential Analysis
35. Appendix
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