Between 2013 and 2023, the Belgian dyes and pigments market has demonstrated fluctuations with an overall increasing trend. The market turnover for 2023 stood at 672.6 million Euros. The period from 2014 to 2017 experienced significant growth, followed by intermittent declines. The period from 2018 to 2020 saw a continuous dip, while from 2021 onwards, there has been a moderate recovery. The average growth rate over the last five years (CAGR) has been slightly negative at -0.24%.
Future trends to watch include a steady but modest market recovery with a forecasted 5-year CAGR of 0.75% and an overall growth rate of 3.79% by 2028. Factors contributing to this growth may include innovations in sustainable dyes, regulatory changes, and shifts in market demand due to evolving consumer preferences.
