GCC: Colour Lake Market 2024

Colour Lake Market Size in GCC

In 2021, the GCC colour lake market decreased by -3.9% to $X for the first time since 2011, thus ending a nine-year rising trend. Overall, consumption, however, enjoyed significant growth. The level of consumption peaked at $X in 2020, and then reduced in the following year.

Colour Lake Production in GCC

In value terms, colour lake production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a significant increase. The growth pace was the most rapid in 2014 with an increase of 95% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then contracted in the following year.

Colour Lake Exports

Exports in GCC

In 2021, approx. X tons of colour lakes, preparations based on colour lakes were exported in GCC; rising by 146% against the previous year. Over the period under review, exports recorded a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, colour lake exports soared to $X in 2021. In general, exports saw strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Saudi Arabia (X tons) represented the key exporter of colour lakes, preparations based on colour lakes, comprising 65% of total exports. It was distantly followed by Bahrain (X tons), Oman (X tons) and the United Arab Emirates (X tons), together achieving a 34% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the colour lakes, preparations based on colour lakes exports, with a CAGR of +33.9% from 2012 to 2021. At the same time, Bahrain (+28.0%) and Oman (+9.0%) displayed positive paces of growth. By contrast, the United Arab Emirates (-11.5%) illustrated a downward trend over the same period. Saudi Arabia (+54 p.p.), Oman (+11 p.p.) and Bahrain (+11 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -54.7% from 2012 to 2021, respectively.

In value terms, the largest colour lake supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), with a combined 98% share of total exports. Bahrain lagged somewhat behind, comprising a further 1.5%.

Bahrain, with a CAGR of +23.7%, saw the highest rates of growth with regard to 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 GCC stood at $X per ton in 2021, picking up by 7.1% against the previous year. In general, the export price saw a perceptible increase. The pace of growth appeared the most rapid in 2013 when the export price increased by 102% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 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 the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+23.4%), while the other leaders experienced a decline in the export price figures.

Colour Lake Imports

Imports in GCC

In 2021, approx. X tons of colour lakes, preparations based on colour lakes were imported in GCC; which is down by -7.5% against the previous year. Over the period under review, imports showed a sharp decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 72% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, colour lake imports surged to $X in 2021. In general, imports recorded a abrupt shrinkage. The growth pace was the most rapid in 2020 when imports increased by 100%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the main importer of colour lakes, preparations based on colour lakes in GCC, with the volume of imports reaching X tons, which was near 70% of total imports in 2021. It was distantly followed by Qatar (X tons), Kuwait (X tons) and Oman (X tons), together generating a 29% share of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of -1.4% from 2012 to 2021. At the same time, Oman (+32.2%) and Qatar (+1.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +32.2% from 2012-2021. By contrast, Kuwait (-3.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates, Qatar, Kuwait and Oman increased by +60, +12, +8.2 and +5.4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported colour lakes, preparations based on colour lakes in GCC, comprising 79% of total imports. The second position in the ranking was held by Kuwait ($X), with an 8.4% share of total imports. It was followed by Oman, with an 8.2% share.

In the United Arab Emirates, colour lake imports increased at an average annual rate of +10.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kuwait (-2.3% per year) and Oman (+53.1% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, with an increase of 27% against the previous year. Overall, the import price posted buoyant growth. The pace of growth was the most pronounced in 2019 when the import price increased by 36% against the previous year. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+15.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform