The recent Textile Colors Market analysis report by market research provider Future Market Insights has revealed that the textile colours business is growing as a result of consumer demand for textiles in a variety of applications.
The report showed that global sales of the textile colours market in 2021 was US$5.8 billion ($8.58 billion). At 6.2 per cent, the projected market growth during 2022 to 2032 is expected to be significantly higher than the historical growth. Direct dye is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 6.2 per cent during 2022 to 2032.
The Textile Colors Market analysis report also outlined:
- The revenue of the textile colours market from 2015 to 2021, revealing that historically, the value of the textile colours market increased at around 5.6 per cent CAGR.
- The factors propelling the demand for textile colours, which are expected to be the market’s fastest-growing category during the forecast period.
The report projects that the garment business will generate US$445 billion ($658 billion) in revenue in 2022, up from US$343 billion ($507 billion) in 2019, and that market revenue is expected to reach US$681 billion ($1.006 trillion) in 2025, growing at a 7.3 per cent CAGR from 2021 to 2025.
- How the organic trend is stimulating demand for textile colours – According to the report, the need for organic dyes for environment-friendly textiles and apparel is propelling the growth of the textile colours industry and companies are increasing their investment in research and development to produce more environmentally friendly dyes.
- Regions projected to offer the largest opportunity for the textile colours market – The report found that the Asia-Pacific region is anticipated to lead the textile colours market due to rising demand from India and China. Together, China and India account for over 40 per cent of the world’s populace. The growing population is expected to boost garment consumption, which will improve the textile industry’s revenue during the forecast period.
- The country at the centerstage of the textile colours market revenue – The report shows that the textile colours market market in the USs is predicted to be worth US$3.7 million ($5.47 million) by the year 2032. North Carolina is the heart of the cotton and textile industry in the US. The state is also making use of dyeing technologies that reduce water consumption by 90 per cent, energy consumption by 75 per cent, and the use of auxiliary chemicals by 90 per cent.
- The impact of COVID-19 on the textile colours market market – According to Eurostat, between January 2020 and January 2021, the output of wearing garments fell by 24.4 per cent, consequently reducing demand for the textile dye industry. However, the report says that demand for home and healthcare textiles has expanded dramatically during the current scenario.