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Sales of Textile Dyes Market to Reach US$ 8 Bn Revenues by 2031-end

Latest insights published by Fact.MR on the textile dyes market forecasts a valuation exceeding US$ 8 billion by 2031. Rapidly evolving fashion trends are stimulating demand for trendy apparel, prompting manufacturers to include new color combinations and designs, pivoting sales, and are expected to push market expansion at a CAGR of over 6% through 2031

The market posted impressive gains over the last 5 years, closing in on US$ 6 billion by the end of 2022. Annual growth rate of approximately 5% was registered during the said timeframe. Manufacturers are expected to primarily focus on Asian markets, with prominent countries such as India and China emerging as lucrative growth hubs.

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According to the India Brand Equity Foundation (IBEF), India’s textiles industry contributed 7% to industry output in FY 2018-19, with an expected valuation of over US$ 23 billion by 2027. Likewise, according to Textile World, China’s chemical fiber production exceeded 50 million tons, comprising over 66% of global production. Such trends are motivating prominent players to increase foray across these markets.

Key Takeaways from Market Study

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Key Market Segments Covered

Dye Type

Fiber

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Competitive Landscape

Some key textile dye manufacturers profiled in Fact.MR’s report include LANXESS AG, Huntsman International LLC, Atul Ltd., Anand International, DyStar Singapore Pte. Ltd., Colorant Limited, Kiri Industries Limited, Jay Chemical Industries Private Limited, Organic Dyes and Pigments LLC, and Archroma.

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/26/2007072/0/en/Demand-for-Pharmaceutical-Packaging-to-Double-Through-2029-High-Preference-for-Sustainable-Packaging-to-Drive-Market-Growth-Says-a-New-Fact-MR-study.html

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