Amid the COVID-19 crisis, the global market for pigments and dyes estimated at US$31.5 billion in the year 2020, is projected to reach a revised size of US$37.5 billion by 2026, growing at a CAGR of 2.9% over the analysis period, says a report from StrategyR.

Disperse Dyes, one of the segments analyzed in the report, is projected to record a 3.4% CAGR and reach US$19.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Reactive Dyes segment is readjusted to a revised 2.6% CAGR for the next 7-year period.

The pigments and dyes market in the U.S. is estimated at US$8.7 billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$7.5 billion by the year 2026 trailing a CAGR of 5.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7% and 2.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR.

In the global sulfur dyes segment, USA, Canada, Japan, China and Europe will drive the 1.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.5 Billion in the year 2020 will reach a projected size of US$3.9 billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.