On the basis of regions, Asia-Pacific excluding Japan is estimated to be the largest market for textile colorant by 2026, accounting for 37.7% value share of the global textile colorant market in 2016. The region continues to dominate the market and is expected to continue to do so throughout the forecast period.
On the basis of application, the apparel segment is anticipated to account for US$4,781.2 million by 2026, expanding at a CAGR of 5% over the forecast period with relatively high value share of 50.3%, followed by the household segment, with a value share of 26.1% in 2026 with a CAGR of 4.8%.
On the basis of dye type, the reactive dye segment accounts for 28.7% in 2016 with CAGR of 3.8%. In terms of value, direct dye segment has a relatively low share of 10.7% in 2016 with a CAGR of 4.2%.
The textile industry in developing regions has witnessed rapid growth due to low labor costs and adequate infrastructure. This has increased the demand for textile chemicals in the region. For Instance, in 2014, Asia Pacific accounted for approximately 53% of the global textile chemicals market. Moreover, the growth of textile colorants market in Asian countries such as Bangladesh, Vietnam, Indonesia and Cambodia is expected to register a relatively high growth rate.