In the global synthetic dyes and pigments market many companies are increasingly using eco-friendly dyes for producing textiles and fabrics. These companies avoid the use of harmful dyes as they cause extensive damage to the environment and are known to cause skin allergies and respiratory diseases. Due to the positive environmental characteristics and low toxicity of eco-friendly dyes, many companies are moving toward eco-friendly organic dyes, though they are priced higher than inorganic dyes.
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The synthetic dyes and pigments market consists of the sales of synthetic dyes and pigments by entities (organizations, sole traders or partnerships) that manufacture synthetic organic and inorganic dyes and pigments, such as lakes and toners (except electrostatic and photographic). Pigments that are obtained from natural minerals as well as synthetic pigments are included in this market. Artificial food-coloring is also included in this market. Synthetic dyes and pigments have applications in manufacturing of almost all industrial products, paints and coatings and inks.
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Since most eco-friendly dyes are expensive compared to inorganic dyes, synthetic dyes and pigments manufacturers should focus on developing cost-effective dyes. To take advantage of opportunities such as these, synthetic dyes and pigments manufacturers should consider strategies such as setting up manufacturing plants in Asia, developing eco-friendly dyes that are cost-effective, investing in R&D to develop products with enhanced properties to meet the consumer demand and be at par with other major players, broadening product portfolios by adding innovative products to meet the demand from various industries, expanding business operations to meet customer demand through sustainable investments, introducing product innovations and solutions to enhance market, improving product quality and strengthening the competitive position by developing new grades for existing and new applications, and expanding business operations to new geographical markets through more direct investments and acquisitions.
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The chemicals market consists of the sales of chemicals by entities (organizations, sole traders and partnerships) that produce chemicals based on the transformation of organic and inorganic raw materials by a chemical process and the formulation of products (but excluding beneficiating of mining output, refining of crude petroleum, manufacturing of aluminium oxide, primary metal manufacturing, beverage distilling, tobacco manufacturing).The chemicals industry establishments produce a variety of chemical products by processing raw materials such as air, water, natural gas, oil, metals and minerals.