Asia: Organic Pigments Market 2024

Organic Pigments Market Size in Asia

The Asian organic pigments market expanded rapidly to $X in 2021, growing by 11% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -0.6% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Organic Pigments Production in Asia

In value terms, organic pigments production rose sharply to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -26.4% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 33%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Organic Pigments Exports

Exports in Asia

In 2021, the amount of synthetic organic coloring matter and pigments exported in Asia soared to X tons, jumping by 23% compared with 2020. The total export volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 40%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, organic pigments exports surged to $X in 2021. The total export value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) and China (X tons) prevails in exports structure, together generating 76% of total exports. It was distantly followed by South Korea (X tons), creating a 5.9% share of total exports. The following exporters - Singapore (X tons), Taiwan (Chinese) (X tons), Turkey (X tons) and Indonesia (X tons) - together made up 13% of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +13.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 77% of total exports. These countries were followed by Singapore, Taiwan (Chinese), Indonesia and Turkey, which together accounted for a further 13%.

Turkey, with a CAGR of +13.3%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, growing by 4.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2018 an increase of 29%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.8%), while the other leaders experienced more modest paces of growth.

Organic Pigments Imports

Imports in Asia

In 2021, overseas purchases of synthetic organic coloring matter and pigments increased by 16% to X tons for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 17% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, organic pigments imports surged to $X in 2021. The total import value increased at an average annual rate of +3.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), China (X tons), Indonesia (X tons), Bangladesh (X tons), South Korea (X tons), India (X tons), Vietnam (X tons), Pakistan (X tons), Japan (X tons), Thailand (X tons), Taiwan (Chinese) (X tons) and Singapore (X tons) represented roughly 87% of total imports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Turkey (with a CAGR of +5.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Turkey ($X) were the countries with the highest levels of imports in 2021, with a combined 41% share of total imports. Indonesia, Vietnam, Japan, Taiwan (Chinese), India, Thailand, Singapore, Bangladesh and Pakistan lagged somewhat behind, together comprising a further 49%.

Vietnam, with a CAGR of +11.3%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, rising by 6.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2018 an increase of 14%. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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