Greece: Basic Dye Market 2024

Basic Dye Market Size in Greece

The Greek basic dye market was finally on the rise to reach $X in 2021, after two years of decline. Overall, the total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.5% 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 -26.6% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Basic Dye Production in Greece

In value terms, basic dye production soared to $X in 2021 estimated in export price. Over the period under review, the total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -35.8% against 2016 indices. The growth pace was the most rapid in 2014 when the production volume increased by 47% against the previous year. Basic dye production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Basic Dye Exports

Exports from Greece

In 2021, overseas shipments of basic dyes and preparations based thereon were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports posted a perceptible expansion. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, basic dye exports surged to $X in 2021. In general, exports enjoyed prominent growth. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Cyprus (X tons) was the main destination for basic dye exports from Greece, with a 89% share of total exports. Moreover, basic dye exports to Cyprus exceeded the volume sent to the second major destination, the Netherlands (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Cyprus stood at +181.9%.

In value terms, Cyprus ($X) remains the key foreign market for basic dyes and preparations based thereon exports from Greece, comprising 98% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 1.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Cyprus totaled +191.7%.

Export Prices by Country

In 2021, the average basic dye export price amounted to $X per ton, waning by -49.3% against the previous year. In general, the export price, however, recorded a notable expansion. The most prominent rate of growth was recorded in 2020 an increase of 212%. As a result, the export price reached the peak level of $X per ton, and then contracted significantly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+39.8%), while the prices for the other major destinations experienced more modest paces of growth.

Basic Dye Imports

Imports into Greece

In 2021, purchases abroad of basic dyes and preparations based thereon decreased by -58.1% to X tons, falling for the fourth consecutive year after three years of growth. Overall, imports faced a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 292%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, basic dye imports declined notably to $X in 2021. In general, imports faced a abrupt decrease. The pace of growth was the most pronounced in 2017 with an increase of 126% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of basic dye to Greece, with a 55% share of total imports. Moreover, basic dye imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The third position in this ranking was held by Germany (X kg), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from Italy stood at -10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-20.7% per year) and Germany (-10.1% per year).

In value terms, France ($X), Italy ($X) and Germany ($X) appeared to be the largest basic dye suppliers to Greece, together comprising 66% of total imports. The Netherlands, the United States and Spain lagged somewhat behind, together accounting for a further 31%.

The Netherlands, with a CAGR of +27.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average basic dye import price amounted to $X per ton, with an increase of 89% against the previous year. Overall, the import price posted a temperate expansion. The growth pace was the most rapid in 2018 when the average import price increased by 103% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

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 the Netherlands ($X per ton), while the price for Italy ($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 States (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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