Dyestuffs refer to water-soluble inexpensive materials that are used to impart color to fabrics. These substances comprise of pigments, azo acids, dyes, and intermediates. Dyestuff producers constantly work to improve the properties of such substances to meet the demands of new kinds of fabrics. In recent years, the textile industry has been increasingly focusing on developing advanced dyeing machinery to overcome the environmental issues caused by the existing dyes. These improvements are a result of extensive research and development (R&D) activities carried out in the textile sector.
The flourishing apparel industry is expected to drive the Association of Southeast Asian Nations (ASEAN) and South Asia dyestuff for textile market at a CAGR of 7.8% during the forecast period. The market revenue stood at $1,163.6 million in 2016 and it is projected to reach $1,938.9 million by 2023. The growth of the apparel sector can be attributed to the burgeoning demand for outerwear, innerwear, socks, t-shirts, jeans, shorts, trousers, dresses, and kids' wear, across the world.
In recent years, the textile industry has been shifting toward waterless dyestuffs from traditional variants, due to growing environmental concerns. Water is used as a primary medium in the textile industry for mixing dye colorants used for polishing and other applications. On an average, around 100–150 liters of water is used to process 1 kilogram (Kg) of textile material. Owing to the high-volume consumption of water, the industry generates an extensive amount of wastewater, which has a detrimental impact on the environment.
Whereas, Bangladesh accounted for the second-largest share in the ASEAN and South Asia dyestuff for textile market in 2016. This can be attributed to the rising export of textile products from the country. At present, the country imports around 95% of textile dyestuffs from India, China, South Korea, Thailand, Taiwan, Italy, Germany, Switzerland, Spain, Turkey, and the U.S. Moreover, the availability of low-wage labor and cheap raw materials will also contribute to the market growth in Bangladesh.
Therefore, the growing apparel industry in the ASEAN and South Asia regions is expected to amplify the usage of dyestuffs in the forthcoming years.
Source: www.psmarketresearch.com
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