Azerbaijan: Organic Pigments Market 2024

Organic Pigments Market Size in Azerbaijan

The Azerbaijani organic pigments market reduced to $X in 2021, waning by -10.8% against the previous year. In general, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.8% 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 -10.9% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Organic Pigments Production in Azerbaijan

In value terms, organic pigments production dropped modestly to $X in 2021 estimated in export price. In general, the total production indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +86.4% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 39%. Organic pigments production peaked at $X in 2020, and then contracted modestly in the following year.

Organic Pigments Exports

Exports from Azerbaijan

In 2021, the amount of synthetic organic coloring matter and pigments exported from Azerbaijan surged to X kg, growing by 8,067% on 2020. Over the period under review, exports, however, recorded a dramatic decline. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, organic pigments exports stood at $X in 2021. Overall, exports, however, saw a precipitous curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 254% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Russia (X kg) was the main destination for organic pigments exports from Azerbaijan, with a 98% share of total exports. It was followed by Uzbekistan (X kg), with a 1.2% share of total exports.

From 2013 to 2021, the average annual growth rate of volume to Russia totaled +2.4%.

From 2013 to 2021, the average annual growth rate of value to Uzbekistan stood at -29.0%.

Export Prices by Country

In 2021, the average organic pigments export price amounted to $X per ton, approximately mirroring the previous year. In general, the export price recorded notable growth. The pace of growth appeared the most rapid in 2016 an increase of 379% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Russia amounted to $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+80.5%).

Organic Pigments Imports

Imports into Azerbaijan

In 2021, organic pigments imports into Azerbaijan plummeted to X tons, which is down by -35.2% against 2020 figures. Over the period under review, imports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 386% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, organic pigments imports shrank remarkably to $X in 2021. Overall, imports, however, recorded a pronounced increase. The growth pace was the most rapid in 2016 with an increase of 101%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of organic pigments to Azerbaijan, with a 62% share of total imports. Moreover, organic pigments imports from Turkey exceeded the figures recorded by the second-largest supplier, India (X tons), sevenfold. The third position in this ranking was taken by China (X tons), with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+17.5% per year) and China (+21.3% per year).

In value terms, Turkey ($X) constituted the largest supplier of synthetic organic coloring matter and pigments to Azerbaijan, comprising 47% of total imports. The second position in the ranking was taken by India ($X), with an 11% share of total imports. It was followed by China, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value from Turkey stood at +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+10.2% per year) and China (+32.2% per year).

Import Prices by Country

In 2021, the average organic pigments import price amounted to $X per ton, surging by 24% against the previous year. In general, the import price, however, continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2014 an increase of 78% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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