Editorial September 2021 Where are we headed

Rajiv Parikh

16 Nov 2021

Vaccination increases, no sign of 3rd wave yet

The government has said that 3 Indian states, Himachal Pradesh, Sikkim, and Goa have given the first dose of the vaccine to all eligible adults. According to one report India has already crossed 7.5 crore doses and can achieve 45% of the population by December 2021. Vaccination in India has picked up pace greatly in recent weeks with more than 42% of Indians having received at least one dose of the vaccine. New case numbers in India have been in the 30,000 to 45,000 range for a while now - without any significant increase on a national level. While various estimates are predicting a 3rd wave in a few months, there seems to be no sign that a third wave is coming yet. But it is always better to be cautious then to be there in the open.

The Synthetic Dyes And Pigments Industry Grows With Increasing Demand From End-Users

According to The Business Research Company’s research report on the synthetic dyes and pigments market, dyes and pigments find multiple applications in paints and coatings, printing inks, textile, onstruction and plastics. The paints and coatings industry is experiencing high growth due to expanding infrastructure development in many countries. Major driving factors of the synthetic dyes and pigments market are increasing demand for high-performance pigments (HPP), and growing opportunities for new applications in end-user industries such as printing inks, textile, construction and plastics. The global paper, plastics, rubber, wood and textile market is estimated to grow from $5,782.5 billion in 2020 to $8,049.7 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%, implying the demand of synthetic dyes in the market. The synthetic dyes and pigments market is expected to especially be driven by the rapidly growing packaging industry. This is mainly due to increased demand from the toiletries, food & beverages, healthcare, and other industries, particularly in emerging economies. The market for synthetic dyes and pigments is expected to grow with the launch of high-quality digital printing applications on flexible packaging and labelling. Growing demand for digital printing due to the need for high quality printing will lead to an increase in the demand for packaging printing, driving the synthetic dyes and pigments market. For example, the Asia Pacific packaging and labeling industry is forecasted to grow to $91.28 in 2030 as compared to $40.15 in 2020. The global synthetic dyes and pigments market is expected to grow from $53.95 billion in 2020 to $58.61 billion in 2021 at a compound annual growth rate (CAGR) of 8.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is then expected to grow at a CAGR of 4.8% from 2020 to reach $68.35 billion in 2025. The synthetic dyes and pigments market expected return is $80.99 billion in 2030, at a CAGR of 3.5%.

Going forward, rising demand for high performance pigments, high demand from end-user industries. and increasing demand from the packaging industry will drive growth. Factors that could hinder the growth of the synthetic dyes and pigments market in the future include fluctuating raw material costs, reduction in free trade, growing demand for natural dyes and pigments and outbreak of coronavirus disease (COVID-19), which are reasons that could lead to the synthetic dyes and pigments market expected to crash. Asia-Pacific was the largest region in the synthetic dyes and pigments market 2020, accounting for 32.3% of the total. It was followed by Western Europe, North America, and then the other regions. Going forward, the fastest-growing regions in the synthetic dyes and pigments market will be Africa and the Middle East, where growth will be at CAGRs of 9.0% and 8.0% respectively. These will be followed by South America, and Eastern Europe where the markets are expected to grow at CAGRs of 7.5 and 5.3% respectively, during 2020-2025. (Full Report can be found on "The Business Reports" website)

According to one report from the Times of India, the export of dyes from India rose 33% to $247 million in July 2021 from $185 million compared to last year. (data compiled from CHEMEXCIL). Gujarat accounts for around 70%-75% exports for dyes and dye intermediates from India. However, it was reported that most of the reduction in exports last year was due to the COVID related restrictions and other temporary variables which affects the exports.


 

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