Market analysis and development trend research of China's dye industry in 2024

With the continuous strengthening of environmental awareness and the increasingly stringent environmental protection policies, the dye industry will accelerate the development and research of green and environmentally friendly new products and adjust the product structure to achieve sustainable development. Leading enterprises in the industry will strengthen the integrated layout of the industrial chain to further improve market concentration and competitiveness.

In 2023, seven ministries and commissions of the State jointly issued the "Petrochemical and Chemical Industry Stable Growth Work Plan", which clarified the main goal of the petrochemical and chemical industry to maintain steady growth. While implementing the "Plan", the dye industry will combine the requirements of the National Development and Reform Commission on the "Guidelines for Industrial Structure Adjustment (2023 Edition, Draft for Comments)" to actively lead industry enterprises to expand effective investment, enrich high-quality supply, stabilize foreign investment and foreign trade, and promote the industry to high-end, green and intelligent.

Dyes refer to a class of organic compounds that can give other substances a bright and firm color. Since the pigments currently used are all artificially synthesized, they are also called synthetic dyes. Dyes and pigments are generally compounds that have their own colors and can give other substances a bright and firm color in a molecular or dispersed state.

The upstream of the dye industry chain is the supply of raw materials, mainly aromatic hydrocarbons in petrochemicals, basic chemical industry, and coal tar in coal chemical industry. The midstream is the production of dyes, which are made from basic chemicals into dye intermediates and added to dyes. The downstream is the application field and sales channels, first from printing material processing, and finally flowing to the textile and clothing field.

Dye industry market analysis

At the beginning of the founding of New China, my country's dye industry had a certain scale, with an annual output of 5,200 tons. The products were mainly sulfur dyes, and there were also a small amount of acid dyes and direct dyes. After 70 years of hard work, my country's dye industry has shifted from the original state-owned enterprises to a new situation dominated by private enterprises. Both the production level and the production scale are at the top of the world, and it is moving towards a dye industry power.

In 2022, the number of enterprises above designated size in the national dye industry was 277, an increase of 9 from 2021. The total output value of the industry reached 76.482 billion yuan, with total assets of 120.37 billion yuan, sales revenue of 66.932 billion yuan, and total profits of 5.835 billion yuan. With the transfer of the world's clothing, textile, fiber, and printing and dyeing industries, my country's dye industry has developed rapidly and gradually become one of the world's largest dye producing countries. According to data from the China Dye Industry Association, the national dye industry output in 2022 was 864,000 tons, a year-on-year increase of 3.47%.

At present, India has become the biggest competitor of my country's dye industry in the international market, especially the traditional Southeast Asian market. It is an indisputable fact that some domestic products have lost to India in the international market competition. Affected by geopolitics, major textile printing and dyeing companies in Southeast Asia are required not to use raw materials produced in China for the first three processes. Therefore, Indian companies' products have quickly occupied the Southeast Asian textile printing and dyeing market.

To this end, China's dye industry is working hard to save itself, turn challenges into opportunities, and try its best to curb the downward trend of dye production, and provide favorable support for the revitalization and development of the textile printing and dyeing industry. However, in 2023, due to the superposition of multiple unfavorable factors, China's dye products have encountered difficulties in domestic and foreign sales, and its share of the international market has further declined. In order to cope with the international trade crisis and maintain China's dye share in the international market, the China Dye Industry Association, on behalf of the majority of dye production companies, earnestly hopes that the state will support the industry's export tax rebate to promote the stable development of the dye industry.

According to the "2024-2029 China Dye Industry Market Analysis and Development Prospect Forecast Report" of China Research Institute of Industry:

From the perspective of market competition, there is fierce competition in the dye manufacturing market. The major dye manufacturers are in fierce competition and the market share is dispersed. Some large multinational chemical companies dominate the market with their strong R&D capabilities and supply chain advantages. At the same time, some emerging local companies are also booming, constantly improving their technical level and product quality.

In terms of geographical distribution, Zhejiang Province has gathered many leading companies in the dye industry, while Jiangsu, Shandong and Hubei have concentrated many intermediates and small dye companies, forming industrial clusters with their own characteristics. At present, the main production companies in my country's dye industry include Zhejiang Longsheng, Runtu Co., Ltd., Annochi, etc. The total production capacity and output of these companies account for about 50% of the country.

Dye industry development trend survey

According to the requirements of ecological textiles and the ban on 118 dyes, environmentally friendly dyes have become the focus of the development of the dye industry and the printing and dyeing industry. Environmentally friendly dyes are extremely important conditions to ensure the ecology of textiles. In addition to having the necessary dyeing properties and the applicability, application performance and fastness performance of the use process, environmentally friendly dyes also need to meet the requirements of environmental quality.

With the continuous strengthening of environmental awareness and the increasingly stringent environmental protection policies, the dye industry will accelerate the development and research of green and environmentally friendly new products and adjust the product structure to achieve sustainable development. Leading enterprises in the industry will strengthen the integrated layout of the industrial chain to further improve market concentration and competitiveness.

Technological innovation is an important driving force for the upgrading of the dye industry. The development of digital dye printing and printing technology will change the pattern of the dye market, realize personalized dyeing, short-term production and reduce waste. Manufacturers will invest more in digital dye printing equipment and technology to meet market demand. With the rapid development of global and domestic textile, clothing and other industries, the market demand for dye products will continue to grow. This will provide more development opportunities for the dye industry.

Based on the summary of the development history of China's dye industry, the report combines various factors in the new era and gives a detailed and prudent forecast and demonstration of the development trend of China's dye industry. The report is detailed and rich in charts and graphs. It has both in-depth analysis and intuitive comparison, which can help dye companies gain insight into opportunities in the fierce market competition and accurately and timely adjust their business strategies according to their own environment.