Demand for organic pigments and dyes to reach $10.6 billion

19/01/2005

According to a newly published report, despite weak figures in 2003, world demand for dyes and organic pigments is set to reach $10.6 billion in the year 2008. This figure is based on an annual expansion of 4.9% in the industry.

 

The report states that the industry will witness outsized growth in developing countries compared with the established nations such as Western Europe, North America, and Japan. The Asia Pacific region is forecast to take over from North America as the largest market for organic colorants, although North America is still expected to see growth. Developing regions such as Latin America, Eastern Europe, Africa and the Middle East are also expected to show above-average expansion. This trend is said to be due to the relocation of fibre and textile production to lower-cost developing nations.

 

The report, produced by Freedonia, also states that the consumption of organic pigments will show more growth potential than dyes, due to the wider applications for these products.

 

The report, ‘World Dyes and Pigments’ is available from The Freedonia Group, Inc., based in Cleveland, USA