Mideast, climate woes hit India's dye sector

The perfect storm of the Middle East crisis and the El Nino climate pattern is significantly impacting India's $7 billion dye and pigment industry, industry insiders and experts said.

This volatility is set to send further shock waves through the sector, a critical subset of the global $46.6 billion dye and pigment market, they predicted.

The ongoing United States-Iran conflict has seen rising feedstock costs, slashed natural gas allocations, and soaring maritime logistics expenses squeezing near-term profit margins and dampening sentiment across the chemical sector.