Greece: Market for Other Synthetic Organic Colouring Matters 2024

Market Size for Other Synthetic Organic Colouring Matters in Greece

The Greek synthetic organic colouring matters market soared to $X in 2022, growing by 101% against the previous year. Overall, consumption saw a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Other Synthetic Organic Colouring Matters in Greece

In value terms, synthetic organic colouring matters production skyrocketed to $X in 2022 estimated in export price. In general, production enjoyed a significant expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 799% against the previous year. Synthetic organic colouring matters production peaked in 2022 and is likely to continue growth in years to come.

Exports of Other Synthetic Organic Colouring Matters

Exports from Greece

In 2022, after three years of growth, there was significant decline in overseas shipments of other synthetic organic colouring matters, when their volume decreased by -20.3% to X tons. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 12%. The exports peaked at X tons in 2021, and then reduced rapidly in the following year.

In value terms, synthetic organic colouring matters exports fell sharply to $X in 2022. The total export value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 28%. As a result, the exports reached the peak of $X, and then fell rapidly in the following year.

Exports by Country

Turkey (X tons), Romania (X tons) and France (X tons) were the main destinations of synthetic organic colouring matters exports from Greece, with a combined 28% share of total exports. Israel, Poland, China, Germany, Serbia, Russia, Italy, Morocco, Egypt and Cyprus lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Israel (with a CAGR of +11.0%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), France ($X) and Romania ($X) constituted the largest markets for synthetic organic colouring matters exported from Greece worldwide, with a combined 30% share of total exports. China, Israel, Germany, Poland, Serbia, Russia, Italy, Egypt, Cyprus and Morocco lagged somewhat behind, together accounting for a further 40%.

In terms of the main countries of destination, Israel, with a CAGR of +12.9%, recorded the highest growth rate of 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

The average synthetic organic colouring matters export price stood at $X per ton in 2022, surging by 6.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 21% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Synthetic Organic Colouring Matters

Imports into Greece

After two years of growth, supplies from abroad of other synthetic organic colouring matters decreased by -19.3% to X tons in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 24%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, synthetic organic colouring matters imports dropped markedly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 21% against the previous year. As a result, imports attained the peak of $X, and then contracted rapidly in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest synthetic organic colouring matters supplier to Greece, with a 29% share of total imports. Moreover, synthetic organic colouring matters imports from India exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.1% per year) and Germany (-11.7% per year).

In value terms, the largest synthetic organic colouring matters suppliers to Greece were India ($X), Germany ($X) and China ($X), together comprising 53% of total imports. Italy, Belgium, the Netherlands, Sweden, Poland, Cyprus, the UK, Romania, Taiwan (Chinese) and Spain lagged somewhat behind, together comprising a further 39%.

Sweden, with a CAGR of +68.2%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average synthetic organic colouring matters import price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 24%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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