Bangladesh: Organic Pigments Market 2024

Organic Pigments Market Size in Bangladesh

In 2021, the Bangladeshi organic pigments market decreased by -33% to $X, falling for the second consecutive year after three years of growth. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -37.8% against 2019 indices. Organic pigments consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Organic Pigments Exports

Exports from Bangladesh

In 2021, approx. X tons of synthetic organic coloring matter and pigments were exported from Bangladesh; which is down by -33% compared with 2020. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 1,471% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then shrank markedly in the following year.

In value terms, organic pigments exports dropped rapidly to $X in 2021. Over the period under review, exports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2020 with an increase of 691%. As a result, the exports attained the peak of $X, and then contracted dramatically in the following year.

Exports by Country

Pakistan (X tons) was the main destination for organic pigments exports from Bangladesh, accounting for a 72% share of total exports. Moreover, organic pigments exports to Pakistan exceeded the volume sent to the second major destination, India (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Pakistan totaled +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-10.4% per year) and Vietnam (0.0% per year).

In value terms, Pakistan ($X) remains the key foreign market for synthetic organic coloring matter and pigments exports from Bangladesh, comprising 58% of total exports. The second position in the ranking was held by India ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Pakistan stood at +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-13.5% per year) and Vietnam (0.0% per year).

Export Prices by Country

The average organic pigments export price stood at $X per ton in 2021, falling by -23.6% against the previous year. Over the period under review, the export price showed a abrupt contraction. The pace of growth was the most pronounced in 2014 an increase of 133% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (-1.6%), while the prices for the other major destinations experienced a decline.

Organic Pigments Imports

Imports into Bangladesh

In 2021, purchases abroad of synthetic organic coloring matter and pigments decreased by -35.5% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, total imports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 42%. Imports peaked at X tons in 2020, and then shrank notably in the following year.

In value terms, organic pigments imports dropped rapidly to $X in 2021. Over the period under review, total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -38.5% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by 57%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of organic pigments to Bangladesh, with a 34% share of total imports. Moreover, organic pigments imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Singapore (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from India amounted to +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.5% per year) and Singapore (+3.3% per year).

In value terms, the largest organic pigments suppliers to Bangladesh were India ($X), Singapore ($X) and China ($X), together comprising 58% of total imports.

India, with a CAGR of +4.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average organic pigments import price amounted to $X per ton, rising by 5.2% against the previous year. Overall, the import price continues to indicate a mild increase. The pace of growth appeared the most rapid in 2014 an increase of 32% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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 Singapore ($X per ton), while the price for Indonesia ($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) (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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