Research Methodology-Market Definitions:-
Global
Dyes Market - It has been defined as the revenues generated by
companies manufacturing dyes such as reactive dyes, disperse dyes, vat dyes,
direct dyes and others globally. It includes revenues generated by organised
and unorganised market players. Additionally, the market includes product sales
through various distribution channels including B2B and distributor sales. It
includes regions such as Americas, Europe, Asia Pacific and ROW. Prices have
been calculated at manufacturer level.
China/ India/ US/
Brazil/ UK/ Germany Dye Market- It has been defined as the revenues generated by companies manufacturing
dye intermediaries and dyes such as reactive dyes, disperse dyes, vat dyes,
direct dyes and others in China/ India/ US/ Brazil/ UK/ Germany. Domestic Sales
and Export sales have been considered while calculating the revenues of the
market. It also includes revenues generated by organised and unorganised market
players. Additionally, the market includes product sales through various
distribution channels including B2B and distributor sales.
Organized Sector/Market - The organised sector refers to those
enterprises who are either listed in stock exchange or have global presence
(subsidiaries outside their home country or are majorly export based). These
enterprises are more export oriented and have higher production capacity,
better technology and a wide product portfolio.
Unorganized Sector/Market -The unorganised sector refers to
those enterprises who are focusing their sales operations inside domestic
boundaries and cater to end user segments located in their home country.
Raw Material: Petrochemical derivatives such as benzene and
naphthalene are key raw materials for this industry. In addition, many reagents
and inorganic chemicals are also used, including Sulphuric Acid, Oleum, Nitric
Acid, Chlorine, Bromine, Caustic Soda, Caustic Potash, etc. Heavy metals
(Copper, Chromium, Mercury, Nickel and Zinc) are used as catalysts in the
synthesis of dyes and dye intermediates.
Europe Region: Countries include Austria, Belgium, Bulgaria,
Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany,
Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta,
Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, UK,
Faroe Islands, FYROM, Iceland, Liechtenstein, Romania, Russia, Switzerland,
Slovakia, Slovenia, and Ukraine.
Americas: Countries include USA Canada, and Mexico, Brazil, Chile,
Uruguay, Argentina, Costa Rica, Panama, Peru, Honduras, Dominican Republic,
Aruba, Bonaire, Curacao, Cuba, Dominica, Guadulope, Jamaica, Matinica, Granada,
St Kitts and Nevis.
Asia Pacific Region: Countries include China, India Japan,
South Korea, Taiwan, Pakistan, Thailand, Philippines, Bangladesh, Mongolia, Sri
Lanka, Vietnam, Australia, New Zealand, Pacific Islands.
Middle East and Africa: These include South Africa, Egypt,
Morocco, Ethiopia, Tunisia, Jordan, Algeria, Cape Verde, Iran, Israel, Kenya,
Libya and Nigeria.
Consolidated Research Approach:-
Interpretation is extended
beyond data of the study to include the results of other theories, research and
hypothesis. Facts and opinions received are clearly distinguished. Extraneous information
and Consultation with Industry Experts is done on a regular basis for sound
interpretation. Future Forecast on the basis of Qualitative Factors such as
future plans laid down by government, company future strategy, and dyes
manufacturers production capacity expansion. Multi Factor Regression Model Analysis
to assess variations in independent variables to determine the future
projections. Poll Opinions from Key Opinion Leaders.
Data triangulation via
modeling from supply side. The same is checked for major countries such as
India, China, The US, Germany and others. Data has been
collected and verified through cross-sanity checking the opinion and facts
received from interview with the hypotheses framed from public databases. The
team has verified the data by conducting both bottom-to-top (production
capacity, utilization, production volume analysis) and top-to-bottom analysis.
Decoding Data Definition:
Clearly defined market size in terms of revenue streams considered by product
categories/ service mix, regions included, price at manufacturers/
intermediate/ retail level, customer spending or players industry revenue.
Client Specific LOS:
Clearly stipulated and streamlined learning objective from each section to the
client to understand all the entities covered in the ecosystem.
Precisely framed
hypothesis on the market size, segments, competition, future
data point through data collation from magazines, journals, broker
reports, investor presentations and annual reports of major companies, reports
of associations, CEFIC Association Annual Report, Ecological and Toxicological
Association of Dyes Manufacturers, Ministry of Commerce, Department of
Statistics and others.
Hypothesis testing through trade desk interviews via Computer assisted telephonic interviews
with several management executives, and other higher level authorities
(including business development manager, sales and marketing head, key account
managers) from Lanxess, Atul Ltd., BASF, Jay Chemicals, Clariant and other
companies.
Market Sizing and Limitations:-
Market Sizing: Initially, we have compiled a list of
prominent companies in dye industry and have approached the management of these
companies including business development manager, sales and marketing head,
procurement managers and others to understand the revenues, capacity, their
growth, concentration by geography and industry verticals.
Our team then collated the
data shared by these companies on primary research and those available on
secondary sources such as annual reports and press releases. The team then
extrapolated the available information to estimate the missing data points. The
information was re-checked with the data available in secondary sources and
proprietary databases.
We have conducted multiple
CATIs with industry experts and management of leading dye manufacturers to
understand their revenues, product portfolio, market segmentation and other
market parameters. This helped us in estimating revenue generated in dyes
industry in India.
Limitations: Since
the competition between the manufacturers operating in this space is high,
there might be a case that the management of the dye manufacturers might be
bullish with the numbers and may over-estimate their numbers and under-estimate
their competitor data points. To avoid this limitation, our team has validated
the numbers provided by one manufacturer from another and this exercise has
been done on vice versa as well. We have accordingly applied a discounting factor
to normalize the over-estimated data point received from the respondents.
As there are large number of
manufacturers in the unorganised market, we were not able to collate data
extensively on the sector and several assumptions for this market segment is
based on the inputs of the interviews conducted with leading organized players
working in the industry.
We have considered strata
sample to understand the pricing structure for different kinds of dye products
across the globe. However, it can happen that some of the manufacturers might
be charging higher or lower than the average price considered by us due to
difference in technology, production cost, quality or end user served.
Future Growth model has been
built on the basis of future developments and opinions received from key
industry veterans of the market followed by SPSS and subjective analysis with
margin of error of not more than 5-10%.
Dye Product Understanding:-
Azo Dyes: These are
organic compounds bearing the functional group R−N=N−R′, in which R and R′ are
usually aryl. They are a commercially important family of azo compounds, i.e.
compounds containing the linkage C-N=N-C. Azo dyes are widely used to treat
textiles, leather articles and some foods. They are insoluble and typically
toxic. These dyes are used in printing inks.
Acid Direct Dyes: Dyeing
with acid direct dyes is normally carried out in a neutral or slightly alkaline
dye bath, at or near boiling point, with the addition of either sodium chloride
(NaCl) or sodium sulphate (Na2SO4) or sodium carbonate (Na2CO3).
Direct dyes are used on cotton, paper, leather, wool, silk and nylon.
Disperse Dyes: These
are water-soluble dyes. The dye bath may require high temperature. These are
typically used to dye synthetic fibres like polyester.
Ingrain Dyes: Ingrain
dyes are those which are synthesized directly on the fabric. Ingrain dyeing is
particularly suitable for cotton fabric.
Solvent Dyes: These are
dyes soluble in organic solvents. Solvent dyes are used to colour organic
solvents, hydrocarbon fuels, waxes, lubricants, plastics and other
hydrocarbon-based nonpolar materials.
Reactive Dyes: These
dyes utilize a chromophore capable of reacting directly with the substrate.
They are among the most permanent of dyes. Reactive dyes are used in dyeing
cotton and other cellulose fibers.
Sulphur Dyes: These are
two-part dyes used on cottons to impart dark colors. The initial bath imparts a
yellow color. This is then treated with a sulphur compound to produce a dark
black color.
Vat Dyes: These are
insoluble in water but soluble in alkaline liquor. These dyes are used for
dyeing cotton, cellulosic and blended fibre.
Cold Dyes: These types
of dyes contain reactive group of high reactivity. So dyeing can be done in
lower temperature i.e. 320°C - 600°C. These are highly colored organic
substances, primarily used for tinting textiles that attach themselves to their
substrates by a chemical reaction that forms a covalent bond between the
molecule of dye and that of the fibre. The dyestuff thus becomes a part of the
fibre and is much less likely to be removed by washing than are dyestuffs that
adhere by adsorption.
Medium Brand Dyes: This
type of dyes contains reactive groups of moderate reactivity. So dyeing is done
in higher temperature than that of cold brand dyes i.e. in between 600°C - 710°C
temperatures.
Hot Brand Dyes: This
type of dye contains reactive groups of least reactivity. So high temperature
(720°C - 930°C) is required for dyeing.
Reactive P Dyes: Reactive
Dyes that is basically used in various printing procedures. Printing colors
like black, blue, red, orange and yellow, as per the requirements of the
clients. ""P"" series dyes are suitable for printing
fabrics.
Anthraquinone Dyes: It
is a polycyclic aromatic hydrocarbon derived from Anthracene or Phthalic
Anhydride. Anthraquinone dyes are used in the textile and pulp industries.
Anthraquinone dyes are lightfast and wash fast.
Variables (Dependent and Independent):-
Forecast Modelling: The
report applies correlation and regression analysis methods to forecast the
future of dyes market in India. The capabilities of SPSS and predictive
analytics software have been leveraged to determine the relevant indicators
used for forecasting the growth in this industry.
In the present case, India
dyes market revenue has been taken as the dependent variable and other
variables such as volume derived from textile industry, plastic packaging and
printing inks have been taken as independent variables.
Multi Factor Regression Analysis for
Future Forecasting:-
SPSS For Linear
Regression: Our team conducted a multi-factor regression
analysis on the lag variables i.e. on the historical dyes market revenues for
last 6 years by identifying the independent and quantifiable variables directly
impacting the market.
Noise Filtering: The
forecasting will be done by using SPSS statistical tools. The variables have
been checked for multi-collinearity (via Karl Pearson correlation coefficient
model) and other bias that could be there in the model.
Sanity Check for
Non Linear Relationship: Our team have conducted graphical and other
analysis with each of the independent variables considered to check if any non
linear relationship exists between the variables.
Global Chemicals Exports Market Overview – Chemical Exports by Major
Countries, 2017
Key Takeaways: The
chemicals industry exports from China out performed other countries majorly due
to high sales generated through the country’s oil-refining and petrochemicals
sectors.
The Chinese government is actively encouraging FDI and joint ventures
between foreign companies and state-owned enterprises in order to boost
domestic manufacturing in the country. Additionally, government is putting
efforts to update or bring in new technologies and invest in research and
development towards new product innovations.
The growing industrialization
and urbanization in China is further anticipated to provide opportunities for
the country’s chemicals industry. Furthermore, an expanding middle class
population will require higher quality chemical products such as dyes towards
numerous end-user applications.
Global Dyes Market Size by Revenue, 2012-2017:-
Overview: The change in
the dye industry has been primarily due to the fierce price competition &
stricter environmental regulations in American and European countries, lesser
production cost in APAC countries along with the globalization of world trade
in the early 1990’s.
Market Size: APAC
region is the largest producer as well as consumers of dyes due the presence of
global manufacturing powerhouses (China and India). It is followed by the
American and the European region.
Key Takeaways: Rising
environmental issues along with surging pollution levels have resulted in
policy changes across the globe.
Global Dyes Market Future Projections on the Basis of Revenue 2017-2022E:-
Global Dye Industry Future Outlook: The global dye industry is expected to grow
with a CAGR of ~% from 2018-2022. The market is expected to reach USD ~ billion
by 2022. APAC region will continue to lead the global dye market in the future
owing to the expected strong growth of the dye industry in China and India. Robust
growth in end users industries such as textiles, construction, automotives,
printing inks, paper and personal care industry will drive the global demand
for dyes.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
