Greece: Colour Lake Market 2025

Colour Lake Market Size in Greece

For the fourth consecutive year, the Greek colour lake market recorded decline in sales value, which decreased by -25.2% to $X in 2021. Overall, consumption showed a pronounced decline. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Colour Lake Exports

Exports from Greece

In 2021, overseas shipments of colour lakes, preparations based on colour lakes increased by 138% to X tons, rising for the fifth consecutive year after two years of decline. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 837%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, colour lake exports surged to $X in 2021. Over the period under review, exports recorded resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 663%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Bulgaria (X tons) was the main destination for colour lake exports from Greece, accounting for a 76% share of total exports. Moreover, colour lake exports to Bulgaria exceeded the volume sent to the second major destination, Cyprus (X tons), fourfold. The third position in this ranking was taken by Portugal (X tons), with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume to Bulgaria amounted to +30.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+277.6% per year) and Portugal (+35.8% per year).

In value terms, the largest markets for colour lake exported from Greece were Cyprus ($X), Bulgaria ($X) and Lithuania ($X), together comprising 96% of total exports.

Among the main countries of destination, Cyprus, with a CAGR of +183.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average colour lake export price amounted to $X per ton, waning by -13.3% against the previous year. Over the period under review, the export price continues to indicate a deep downturn. The pace of growth was the most pronounced in 2015 when the average export price increased by 58% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Bulgaria ($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 Lithuania (+16.8%), while the prices for the other major destinations experienced a decline.

Colour Lake Imports

Imports into Greece

In 2021, overseas purchases of colour lakes, preparations based on colour lakes were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports recorded slight growth. The most prominent rate of growth was recorded in 2014 with an increase of 59% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, colour lake imports expanded to $X in 2021. The total import value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 36%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of colour lake to Greece, with a 74% share of total imports. Moreover, colour lake imports from Italy exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), eightfold. The third position in this ranking was held by Portugal (X tons), with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+3.0% per year) and Portugal (+41.9% per year).

In value terms, Italy ($X) constituted the largest supplier of colour lakes, preparations based on colour lakes to Greece, comprising 47% of total imports. The second position in the ranking was held by France ($X), with a 21% share of total imports. It was followed by Portugal, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Italy stood at +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+30.8% per year) and Portugal (+21.9% per year).

Import Prices by Country

The average colour lake import price stood at $X per ton in 2021, waning by -10.2% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, colour lake import price increased by +91.4% against 2017 indices. The growth pace was the most rapid in 2018 an increase of 48%. The import price peaked at $X per ton in 2020, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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