Petroleum Dyes - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Petroleum Dyes Market is accounted for $1.28 billion in 2019 and is expected to reach $2.37 billion by 2027 growing at a CAGR of 8.0% during the forecast period. Advancement in the manufacturing process of petroleum dyes and upsurge in per capita consumption of petroleum dyes in emerging economies are the major factors propelling the growth of the market. However, high raw material prices are hampering the market growth.
Petroleum dyes are unsaturated dyes, which are used to add color to petroleum products and gasoline. They acquire properties such as intense color and solubility. Markers, on the other hand, are colourless ingredients which are further added to fuels and can be perceived by adding a precise reagent to add color. The most regularly used petroleum dyes are azo dyes and alkyl dyes. These dyes are complex and unsaturated aromatic compounds that possess characteristics such as solubility, and intense color. Petroleum dyes are used to prevent fuel ruination and theft. They also add aesthetic appeal to fuels.
Based on the product, the azo dyes segment is going to have a lucrative growth during the forecast period due to the more efficient and traceable quality of dyeing. Azo dyes also termed as red dyes and are primarily used petroleum dyes. Azo dyes are used in dyeing textile fibres, mainly cotton but also silk, wool, viscose and synthetic fibres. They are considered to be easy to use, comparatively cheap and to provide clear, strong colours. The rise in products like azo has influenced the petroleum dyes market.
By geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the growing population, increase in disposable income. The Asia Pacific, led by India and China are densely populated countries worldwide. India is expecting high growth in the aviation industry, as it has projected an increase in passenger traffic. China will register considerable growth in petroleum dyes market due to its ever-increasing population and improved transportation of passenger and goods.
Some of the key players profiled in the Petroleum Dyes Market include Innospec Inc, Improchem. Pty Ltd, Sunbelt Corporation, John Hogg & Co Ltd., The Dow Chemical Co., United Colour Manufacturing Co., Authentix, Inc., A.S. Harrison & Co Pty Ltd., Fuel Theft Solutions Ltd, and BASF SE.
• Solvent Blend
• Fluorescent dyes
• Ethyl Dyes
• Azo Dyes
• Jet Fuel
• Fuel Oil
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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