The global chemical industry consists of a number of sub-industries that include dyes, inks, colors,  paints, coatings, and pigments. Every sub-industry is independent yet interrelated. The raw material for one industry is the final product for another and vice versa. The growth story of every economy includes the chemical industries that contribute significantly to the economic growth and towards the development of every industry that relies on chemicals.
 
A pigment is basically a chemical which changes the color of the reflected light due to wavelength selective absorption. Dyes are those substances that are naturally colored and come with the ability to substrate to which it is being applied. The pigment and dyes market can be classified into two parts. One is the dyes and organic pigments while the other is inorganic pigments. Dyes are used as colorants in different industries like food processing, wood stain and textiles. They have high selective absorptivity as compared to pigments. It is this characteristic that enables them to lose their physical properties during the process of application. Similarly, dyes are classified into different categories that include disperse dyes, reactive dyes, acid dyes, VAT dyes, sulfur dyes, basic dyes, direct dyes and many others. The organic pigments can also be classified further into high performance pigments and azo. According to the application, the dyes and pigments market can be classified into paper, leather, textiles, plastics, paints and coatings, paper and specialty, construction, printing ink and others. They have multiple applications in coatings and paints, textile, construction, printing ink and plastics. The industry has witnessed major growth and an in crease in demand due to the growing infrastructure. There is an increase in the usage of environment friendly products for application in end-user industries.
 
The technological advances in the industry have paved way to synthesize the pigments from petrochemical sources. Manufacturers are offering products that are exceptional in the coloring strength and are stable against weather, heat, chemical, and light. They offer higher durability at an affordable rate. The global demand for pigment is expected to multiply at CAGR of 4% during 2017 to 2023 and it is estimated to reach $31.9 billion by 2023 in terms of revenue. The demand for pigments will be driven by paints and coating industry which will constitute 51% of the total demand. The Asia Pacific is the most lucrative region for the vendors in the pigments segment and it is expected to remain the same while generating 46.9% of the global demand in the next five years. Rapid industrialization and increase infrastructural activities will propel the demand for inorganic pigments from the Asia Pacific market.
 
Indonesia and India have taken a lead in the manufacturing of dyes. This is due to the easy availability of raw material and organic intermediate chemicals. Other countries like Vietnam and Singapore are expected to be emerging markets which owe to the development of the end users like food processing, paints and coatings. In the last decade, there has been a change in the trend towards the Asia Pacific due to the low cost of production and the increasing prominence of the region that acts as a hub for end-user industries like food, textiles, food, and coatings. However, there are concerns about the excess cost of interest. There is a decline in investment towards research and development activities and there are high energy costs which have impacted the production units in a negative manner. Manufacturers are moving towards producing environmentally friendly dye products due to the increasing concerns about the hazardous usage of dyes which could decelerate the growth of the market.
 
the rapid urbanization, development of infrastructure and increasing disposable income, it is anticipated that the market will grow higher by 2019-20. Paints and coatings play a crucial role in the automobile industry. They are used to provide  protection and impart decorative texture to the automobile. The coatings segment and automotive refinish paints are estimated to grow at a CAGR of 14.47 percent. The products find wide application in automotive, aerospace, defence, construction, oil and gas, refinery, petrochemical, marine and industrial coatings industry
There are more than 300 raw materials that form a part of the paints industry. Majority materials are petroleum based which is one reason why the industry benefits from the reduction in crude prices. Several factors have contributed to the rapid growth of the Indian paint industry; this includes the adoption of latest technologies as well as innovative products launch. Additionally, given
 
 
The demand is also driven by a number of factors in the printing ink industry. These include the increase in demand for digital ink and the advances in technology. There are also a number of challenges faced by the industry including environmental concerns, the price volatility in case of raw material and the over capacity. There has been a shift in the manufacturing facilities from the US and Europe to China, Taiwan and India due to the stringent regulations and an increase in demand. It is expected that the demand for specialty pigments will increase since they are eco-friendly in nature. Asia Pacific has the largest market and it is expected to remain as the highest growing region in the years to come. In addition, the emerging trend of moving the manufacturing facilities to Asia Pacific has led to a growth in the industry. Some of the major players in the dyes and pigment industry include Sun Chemical Corporation, Ferro Corp, Cathay Pigments Inc., Flint Group, Merck KGAA, Toyo Ink SC Holdings Co. Ltd among others.