Dyes and Pigments Market
Dyes and Pigments Market Share & Trends Analysis By Classification (Disperse, Reactive, Sulphur Dyes and Pigments) By Application (Textile, Ink & Paint, Leather & Paper Dyes and Pigments) & By Region - Global Insights to 2031
Analysis of Dyes and Pigments Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Dyes and Pigments Market Overview
Worldwide demand for dyes and pigments is projected to grow at a Compound Annual Growth Rate (CAGR) of 3% from 2021 to 2031. The global dyes and pigments market size is anticipated to reach at US$ 38 billion by the year 2031.
According to the market analysis, sales are expected to emerge strong across the Chinese market, amid extensive development of the domestic textile industry.
Poised to inch close to US$ 8 billion by 2031, which would be more than 1/5 of the global dyes and pigments market share for China, recessionary fears have been offset as projections appear largely steady for the coming years.
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Key Points Covered in Dyes and Pigments Market Study:
- Market Estimates and Forecasts (2016 to 2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Dyes and Pigments and How to Navigate
- Recommendation on Key Winning Strategies
Dyes and Pigments Demand from 2016 to 2020 Vs Future Forecasts for 2021 to 2031
From 2016 to 2020, sales of dyes and pigments remained high, being valued at over US$ 30 billion. Increasing demand from key application industries, including textiles, construction, paints & coatings, dyes, and pigmented plastics, have largely driven growth in the said period.
Growth prospects experienced a blip during the COVID-19 pandemic, as mandatory lockdowns compelled major factories producing dyes and pigments to halt production. According to Fact.MR’s revised estimates, the market is likely to record a CAGR of over 3% for the 2021 to 2031 forecast period.
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How is the Packaging Industry Opening Up Growth Frontiers for Dyes and Pigments?
The global packaging industry is witnessing credible developments, with several manufacturers embracing lightweight and flexible alternatives, most notably paper and paperboard. This is prompting enhanced usage of specialty pigments in paper processing, thus stimulating demand.
The transition towards paper based packaging is enabling companies to fulfill their sustainability commitments, which is being further stimulated by preference for organic and natural pigments and dyes manufactured from renewable sources such as plants.
Will a Flourishing Global Textile Industry Act as a Catalyst for Adoption of Dyes and Pigments?
The global textile industry is experiencing significant developments, expected to surpass the billion dollar marker in the long-run. The industry is ever growing, marked by prolific developments with respect to dyeing and coating technologies. Maximum opportunities abound across key countries in the Asia-Pacific region.
These countries have attracted significant investments in the dyes and pigments sector, as rapid urbanization rates have increased demand for clothing and apparel as consumers experience enhanced living standards and a surge in per capita spending.
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Country-wise Analysis
Why Do Growth Prospects for Dyes and Pigments Appear Bright across the U.S?
Demand for dyes and pigments market in the U.S. is estimated at above US$ 8 billion for 2020. Growth is majorly attributed to extensive applications across the construction sector. Oxford Economics projects that construction activity across the U.S will increase by US$ 1.5 trillion in the next decade.
Consequently, complex inorganic color pigments are being deploy to satisfy the highest demands for heat stability, chemical inertness as well as weather and light fastness. Furthermore, pigments are being deployed to ensure wood conservation across residential settings.
How is China Generating Growth Opportunities for Manufacturers of Dyes and Pigments?
The dyes and pigments market is expected to register a CAGR exceeding 5% across China until 2031, projected to reach nearly US$ 8 billion. Deployment is expected to be maximum across the textile industry. According to Textile Info Media, China is the world’s largest textile cloth manufacturer, contributing 7% of the GDP.
Furthermore, the National Development and Reform Commission, the textile sector registered stable development in the first 11 months of 2020, with value added output rising by 2.5% and domestic retail sales of apparel standing at US$ 172.4 billion. Hence, dyes and pigments deployment also surged, prompting newer expansion opportunities.
Category-wise Insights
Which Dyes and Pigments Classification is Set Record Maximum Surge in Demand?
By classification, reactive dyes held maximum sway in 2020, accounting for nearly 3/5 of the revenue. High organic component presence and enhanced resistance to fading render them highly suitable for application across textile manufacturing.
Simultaneously, demand for disperse dyes is expected to surge to be valued at over US$ 19 billion by the end of the 2021 to 2031 forecast period. Availability of different energy grades, less water solubility and fastness in washing are some key factors enhancing its adoption.
Will Dyes and Pigments for Textiles Generate Bulk of Global Demand?
By application, textile grade dyes and pigments are likely to capture bulk of overall demand, generating over 60% of overall revenue in 2020. Extensive textiles production to satiate global demand is pivoting sales across this segment.
Prominent manufacturers are expected to glean maximum benefits across such key economies as China, India, Bangladesh, Indonesia and Thailand, as these are considered primary textile production hubs.
Competitive Landscape
Key dyes and pigments manufacturers primarily emphasize on producing color schemes and product lines customized according to each end-users’ requirements. Furthermore, collaborations between existing players to promote advanced research as well as acquiring players are also important strategies.
- In June 2021, BASF SE announced expansion of its innovation efficiency in Japan by moving the Dispersions and Resins Applications R&D Center from Amagasaki to Yokkaichi to strengthen cross-functional collaboration across the supply chain management team.
- In May 2021, Clariant AG launched the HostatintTM AU aqueous pigment dispersions, expanding the color choice for exterior and interior architectural coatings. These colors are endowed with new low-VOC and APEO-free technologies.
Dyes and Pigments Report Scope
Attribute | Details |
---|---|
Forecast Period | 2021 to 2031 |
Historical Data Available for | 2016 to 2020 |
Market Analysis | US$ Mn for Value, ‘000 Units for Volume |
Key Regions Covered | North America; Europe; East Asia; South Asia; Oceania; Latin America; Middle East & Africa |
Key Countries Covered | U.S, Canada, Germany, U.K., France, Spain, Italy, Russia, China, Japan, South Korea, India, Australia, Brazil, Mexico, Argentina, GCC, South Africa |
Key Segments Covered | Classification, Application, Region |
Key Companies Profiled | Atlanta AG; Asahi Songwon Colors Ltd.; Atul Ltd.; BASF SE; Cathay Industries USA; Clariant AG; DIC Corp.; DyStar Singapore Pte. Ltd.; Ferro Corp.; Sun Chemical Corporation; Synthesia SA; Sudarshan Chemical Industries Ltd.; Huntsman Corp.; LANXESS AG; Kronos Worldwide Inc.; Kiri Industries Ltd.; Tronox Inc.; Merck KGaA; Flint Group |
Pricing | Available upon Request |
Key Market Segments Covered
-
By Classification :
- Disperse Dyes and Pigments
- Reactive Dyes and Pigments
- Sulphur Dyes and Pigments
- Other Dyes and Pigments Classifications
-
By Application :
- Textile
- Ink & Paint
- Leather
- Paper
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Key Success Factors
- 5. Market Background
- 6. Global Market Volume (Units) Analysis 2016 to 2020 and Forecast, 2021 to 2031
- 7. Global Market - Pricing Analysis
- 8. Global Market Value Analysis 2016 to 2020 and Forecast, 2021 to 2031
- 9. Global Market Analysis 2016 to 2020 and Forecast 2021 to 2031, by Classification
- 9.1 Disperse Dyes
- 9.2 Reactive Dyes
- 9.3 Sulphur Dyes
- 9.4 Other Classifications
- 10. Global Market Analysis 2016 to 2020 and Forecast 2021 to 2031, by Application
- 10.1 Textiles
- 10.2 Inks & Paints
- 10.3 Leather
- 10.4 Paper
- 11. Global Market Analysis 2016 to 2020 and Forecast 2021 to 2031, by Region
- 11.1 North America
- 11.2 Latin America
- 11.3 Europe
- 11.4 East Asia
- 11.5 South Asia
- 11.6 Oceania
- 11.7 Middle East and Africa (MEA)
- 12. North America Market Analysis 2016 to 2020 and Forecast 2021 to 2031
- 13. Latin America Market Analysis 2016 to 2020 and Forecast 2021 to 2031
- 14. Europe Market Analysis 2016 to 2020 and Forecast 2021 to 2031
- 15. South Asia Market Analysis 2016 to 2020 and Forecast 2021 to 2031
- 16. East Asia Market Analysis 2016 to 2020 and Forecast 2021 to 2031
- 17. Oceania Market Analysis 2016 to 2020 and Forecast 2021 to 2031
- 18. Middle East and Africa Market Analysis 2016 to 2020 and Forecast 2021 to 2031
- 19. Key and Emerging Countries Market Analysis 2016 to 2020 and Forecast 2021 to 2031
- 20. Market Structure Analysis
- 21. Competition Analysis
- 21.1 Atlanta AG
- 21.2 Asahi Songwon Colors Ltd.
- 21.3 Atul Ltd.
- 21.4 BASF SE
- 21.5 Cathay Industries USA
- 21.6 Clariant AG
- 21.7 DIC Corp.
- 21.8 DyStar Singapore Pte. Ltd.
- 21.9 Ferro Corp.
- 21.10 Sun Chemical Corporation
- 21.11 Synthesia SA
- 21.12 Sudarshan Chemical Industries Ltd.
- 21.13 Huntsman Corp.
- 21.14 LANXESS AG
- 21.15 Kronos Worldwide Inc.
- 21.16 Kiri Industries Ltd.
- 21.17 Tronox Inc.
- 21.18 Merck KGaA
- 21.19 Flint Group
- 22. Assumptions and Acronyms Used
- 23. Research Methodology
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List Of Table
Table 01: Global Market Volume (‘000 Units) Analysis and Opportunity Assessment 2016 to 2031, By Classification
Table 02: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Classification
Table 03: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Application
Table 04: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Region
Table 05: North America Market Value (US$ Mn) Analysis 2016 to 2020 and Forecast 2021 to 2031, By Country
Table 06: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Classification
Table 07: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Application
Table 08: Latin America Market Value (US$ Mn) Analysis 2016 to 2020 and Forecast 2021 to 2031, By Country
Table 09: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Classification
Table 10: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Application
Table 11: Europe Market Value (US$ Mn) Analysis 2016 to 2020 and Forecast 2021 to 2031, By Country
Table 12: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Classification
Table 13: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Application
Table 14: South Asia Market Value (US$ Mn) Analysis 2016 to 2020 and Forecast 2021 to 2031, By Country
Table 15: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Classification
Table 16: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Application
Table 17: East Asia Market Value (US$ Mn) Analysis 2016 to 2020 and Forecast 2021 to 2031, By Country
Table 18: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Classification
Table 19: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Application
Table 20: Oceania Market Value (US$ Mn) Analysis 2016 to 2020 and Forecast 2021 to 2031, By Country
Table 21: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Classification
Table 22: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Application
Table 23: Middle East and Africa Market Value (US$ Mn) Analysis 2016 to 2020 and Forecast 2021 to 2031, By Country
Table 24: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Classification
Table 25: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2016 to 2031, By Application
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List Of Figures
Figure 01: Global Market Volume (in 000' Units) Analysis, 2016 to 2020
Figure 02: Global Market Volume Forecast (in 000' Units), 2021 to 2031
Figure 03: Pricing Analysis (US$) Per Product, By Region, 2020
Figure 04: Pricing Analysis (US$) Per Product, By Region, 2020
Figure 05: Global Market Value Analysis (US$ Mn), 2016 to 2020
Figure 06: Global Market Value Forecast (US$ Mn), 2021 to 2031
Figure 07: Global Market Absolute $ Opportunity, 2021 to 2031
Figure 08: Global Market Share Analysis (%), By Classification, 2021 to 2031
Figure 09: Global Market Y-o-Y Analysis (%), By Classification, 2021 to 2031
Figure 10: Global Market Attractiveness Analysis by Classification, 2021 to 2031
Figure 11: Global Market Share Analysis (%), By Application, 2021 to 2031
Figure 12: Global Market Y-o-Y Analysis (%), By Application, 2021 to 2031
Figure 13: Global Market Attractiveness Analysis by Application, 2021 to 2031
Figure 14: Global Market Share Analysis (%), By Region, 2021 to 2031
Figure 15: Global Market Y-o-Y Analysis (%), By Region, 2021 to 2031
Figure 16: Global Market Attractiveness Analysis by Region, 2021 to 2031
Figure 17: North America Market Value Share, By Classification, 2021 (E)
Figure 18: North America Market Value Share, By Application, 2021 (E)
Figure 19: North America Market Value Share, By Country, 2021 (E)
Figure 20: North America Market Value Analysis (US$ Mn), 2016 to 2020
Figure 21: North America Market Value Forecast (US$ Mn), 2021 to 2031
Figure 22: North America Market Attractiveness Analysis by Classification, 2021 to 2031
Figure 23: North America Market Attractiveness Analysis by Application, 2021 to 2031
Figure 24: North America Market Attractiveness Analysis by Country, 2021 to 2031
Figure 25: Latin America Market Value Share, By Classification, 2021 (E)
Figure 26: Latin America Market Value Share, By Application, 2021 (E)
Figure 27: Latin America Market Value Share, By Country, 2021 (E)
Figure 28: Latin America Market Value Analysis (US$ Mn), 2016 to 2020
Figure 29: Latin America Market Value Forecast (US$ Mn), 2021 to 2031
Figure 30: Latin America Market Attractiveness Analysis by Classification, 2021 to 2031
Figure 31: Latin America Market Attractiveness Analysis by Application, 2021 to 2031
Figure 32: Latin America Market Attractiveness Analysis by Country, 2021 to 2031
Figure 33: Europe Market Value Share, By Classification, 2021 (E)
Figure 34: Europe Market Value Share, By Application, 2021 (E)
Figure 35: Europe Market Value Share, By Country, 2021 (E)
Figure 36: Europe Market Value Analysis (US$ Mn), 2016 to 2020
Figure 37: Europe Market Value Forecast (US$ Mn), 2021 to 2031
Figure 38: Europe Market Attractiveness Analysis by Classification, 2021 to 2031
Figure 39: Europe Market Attractiveness Analysis by Application, 2021 to 2031
Figure 40: Europe Market Attractiveness Analysis by Country, 2021 to 2031
Figure 41: South Asia Market Value Share, By Classification, 2021 (E)
Figure 42: South Asia Market Value Share, By Application, 2021 (E)
Figure 43: South Asia Market Value Share, By Country, 2021 (E)
Figure 44: South Asia Market Value Analysis (US$ Mn), 2016 to 2020
Figure 45: South Asia Market Value Forecast (US$ Mn), 2021 to 2031
Figure 46: South Asia Market Attractiveness Analysis by Classification, 2021 to 2031
Figure 47: South Asia Market Attractiveness Analysis by Application, 2021 to 2031
Figure 48: South Asia Market Attractiveness Analysis by Country, 2021 to 2031
Figure 49: East Asia Market Value Share, By Classification, 2021 (E)
Figure 50: East Asia Market Value Share, By Application, 2021 (E)
Figure 51: East Asia Market Value Share, By Country, 2021 (E)
Figure 52: East Asia Market Value Analysis (US$ Mn), 2016 to 2020
Figure 53: East Asia Market Value Forecast (US$ Mn), 2021 to 2031
Figure 54: East Asia Market Attractiveness Analysis by Classification, 2021 to 2031
Figure 55: East Asia Market Attractiveness Analysis by Application, 2021 to 2031
Figure 56: East Asia Market Attractiveness Analysis by Country, 2021 to 2031
Figure 57: Oceania Market Value Share, By Classification, 2021 (E)
Figure 58: Oceania Market Value Share, By Application, 2021 (E)
Figure 59: Oceania Market Value Share, By Country, 2021 (E)
Figure 60: Oceania Market Value Analysis (US$ Mn), 2016 to 2020
Figure 61: Oceania Market Value Forecast (US$ Mn), 2021 to 2031
Figure 62: Oceania Market Attractiveness Analysis by Classification, 2021 to 2031
Figure 63: Oceania Market Attractiveness Analysis by Application, 2021 to 2031
Figure 64: Oceania Market Attractiveness Analysis by Country, 2021 to 2031
Figure 65: Middle East and Africa Market Value Share, By Classification, 2021 (E)
Figure 66: Middle East and Africa Market Value Share, By Application, 2021 (E)
Figure 67: Middle East and Africa Market Value Share, By Country, 2021 (E)
Figure 68: Middle East and Africa Market Value Analysis (US$ Mn), 2016 to 2020
Figure 69: Middle East and Africa Market Value Forecast (US$ Mn), 2021 to 2031
Figure 70: Middle East and Africa Market Attractiveness Analysis by Classification, 2021 to 2031
Figure 71: Middle East and Africa Market Attractiveness Analysis by Application, 2021 to 2031
Figure 72: Middle East and Africa Market Attractiveness Analysis by Country, 2021 to 2031
Figure 73: U. S. Market Value Analysis (US$ Mn), 2021 & 2031
Figure 74: U. S. Market Value Share, By Classification, 2021 (E)
Figure 75: U. S. Market Value Share, By Application, 2021 (E)
Figure 76: Canada Market Value Analysis (US$ Mn), 2021 & 2031
Figure 77: Canada Market Value Share, By Classification, 2021 (E)
Figure 78: Canada Market Value Share, By Application, 2021 (E)
Figure 79: Mexico Market Value Analysis (US$ Mn), 2021 & 2031
Figure 80: Mexico Market Value Share, By Classification, 2021 (E)
Figure 81: Mexico Market Value Share, By Application, 2021 (E)
Figure 82: Brazil Market Value Analysis (US$ Mn), 2021 & 2031
Figure 83: Brazil Market Value Share, By Classification, 2021 (E)
Figure 84: Brazil Market Value Share, By Application, 2021 (E)
Figure 85: U. K. Market Value Analysis (US$ Mn), 2021 & 2031
Figure 86: U. K. Market Value Share, By Classification, 2021 (E)
Figure 87: U. K. Market Value Share, By Application, 2021 (E)
Figure 88: Germany Market Value Analysis (US$ Mn), 2021 & 2031
Figure 89: Germany Market Value Share, By Classification, 2021 (E)
Figure 90: Germany Market Value Share, By Application, 2021 (E)
Figure 91: France Market Value Analysis (US$ Mn), 2021 & 2031
Figure 92: France Market Value Share, By Classification, 2021 (E)
Figure 93: France Market Value Share, By Application, 2021 (E)
Figure 94: Italy Market Value Analysis (US$ Mn), 2021 & 2031
Figure 95: Italy Market Value Share, By Classification, 2021 (E)
Figure 96: Italy Market Value Share, By Application, 2021 (E)
Figure 97: Spain Market Value Analysis (US$ Mn), 2021 & 2031
Figure 98: Spain Market Value Share, By Classification, 2021 (E)
Figure 99: Spain Market Value Share, By Application, 2021 (E)
Figure 100: Russia Market Value Analysis (US$ Mn), 2021 & 2031
Figure 101: Russia Market Value Share, By Classification, 2021 (E)
Figure 102: Russia Market Value Share, By Application, 2021 (E)
Figure 103: China Market Value Analysis (US$ Mn), 2021 & 2031
Figure 104: China Market Value Share, By Classification, 2021 (E)
Figure 105: China Market Value Share, By Application, 2021 (E)
Figure 106: Japan Market Value Analysis (US$ Mn), 2021 & 2031
Figure 107: Japan Market Value Share, By Classification, 2021 (E)
Figure 108: Japan Market Value Share, By Application, 2021 (E)
Figure 109: South Korea Market Value Analysis (US$ Mn), 2021 & 2031
Figure 110: South Korea Market Value Share, By Classification, 2021 (E)
Figure 111: South Korea Market Value Share, By Application, 2021 (E)
Figure 112: India Market Value Analysis (US$ Mn), 2021 & 2031
Figure 113: India Market Value Share, By Classification, 2021 (E)
Figure 114: India Market Value Share, By Application, 2021 (E)
Figure 115: ASEAN Market Value Analysis (US$ Mn), 2021 & 2031
Figure 116: ASEAN Market Value Share, By Classification, 2021 (E)
Figure 117: ASEAN Market Value Share, By Application, 2021 (E)
Figure 118: Australia Market Value Analysis (US$ Mn), 2021 & 2031
Figure 119: Australia Market Value Share, By Classification, 2021 (E)
Figure 120: Australia Market Value Share, By Application, 2021 (E)
Figure 121: New Zealand Market Value Analysis (US$ Mn), 2021 & 2031
Figure 122: New Zealand Market Value Share, By Classification, 2021 (E)
Figure 123: New Zealand Market Value Share, By Application, 2021 (E)
Figure 124: GCC Countries Market Value Analysis (US$ Mn), 2021 & 2031
Figure 125: GCC Countries Market Value Share, By Classification, 2021 (E)
Figure 126: GCC Countries Market Value Share, By Application, 2021 (E)
Figure 127: Turkey Market Value Analysis (US$ Mn), 2021 & 2031
Figure 128: Turkey Market Value Share, By Classification, 2021 (E)
Figure 129: Turkey Market Value Share, By Application, 2021 (E)
Figure 130: South Africa Market Value Analysis (US$ Mn), 2021 & 2031
Figure 131: South Africa Market Value Share, By Classification, 2021 (E)
Figure 132: South Africa Market Value Share, By Application, 2021 (E)
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Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How much is the dyes and pigments market worth?
Dyes and pigments market was valued at over US$ 30 billion as of 2020, according to Fact.MR.
What is the expected sales forecast for dyes and pigments?
Sales of dyes and pigments are expected to reach more than US$ 38 billion by 2031, expanding at a CAGR of nearly 3%.
How much did demand for dyes and pigments accelerate in the past half-a-decade?
Demand for dyes and pigments expanded at a CAGR of approximately 3% during the 2016-2020 historical period.
Which drivers are influencing future outlook for dyes and pigments?
Dyes and pigments market is reliant on extensive sales across the textile and construction industries.
Which countries are primarily generating demand for dyes and pigments?
China, the U.S., and India are expected to account for bulk of global demand for dyes and pigments, with the market in China expanding at 5% CAGR and the U.S valued at US$ 8 Bn in 2020.
What was the anticipated market share of dyes and pigments across Europe in 2020?
Europe accounted for nearly 1/5 of global dyes and pigments demand in 2020.
How much revenue is the textile industry expected to generate for dyes and pigments?
The global dyes and pigments market revenue share across the textile industry is anticipated to comprise nearly 60% through 2031.
What are the growth prospects for reactive dyes and pigments?
Reactive dyes and pigments are slated to account for more than 3 out of 5 sales over the decade.
How are disperse pigments and dyes expected to fare in the long-run?
Demand for disperse pigments and dyes to surpass US$ 19 billion by 2031, expanding at over 3% CAGR.
Who are the leading manufacturers of dyes and pigments?
Some of the major manufacturers of dyes and pigments include BASF SE, Cathay Industries, Clariant AG, DIC Corporation, DyStar Singapore Pte. Ltd., Huntsman Corporation, and Synthesia S.A.