Greece: Organic Pigments Market 2024

Organic Pigments Market Size in Greece

The Greek organic pigments market shrank dramatically to $X in 2021, which is down by -36.6% against the previous year. Overall, consumption showed a noticeable setback. Over the period under review, the market reached the maximum level at $X in 2020, and then fell remarkably in the following year.

Organic Pigments Production in Greece

In value terms, organic pigments production expanded notably to $X in 2021 estimated in export price. Overall, production, however, saw a significant increase. The growth pace was the most rapid in 2015 when the production volume increased by 413% against the previous year. Over the period under review, production attained the peak level in 2021 and is expected to retain growth in years to come.

Organic Pigments Exports

Exports from Greece

In 2021, overseas shipments of synthetic organic coloring matter and pigments increased by 6.6% to X tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2020 with an increase of 11% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, organic pigments exports surged to $X in 2021. The total export value increased at an average annual rate of +3.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons), China (X tons) and Russia (X tons) were the main destinations of organic pigments exports from Greece, with a combined 29% share of total exports. Romania, Poland, Israel, France, Germany, Serbia, Egypt, Bulgaria, Italy and Spain lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +23.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and France ($X) appeared to be the largest markets for organic pigments exported from Greece worldwide, with a combined 27% share of total exports. These countries were followed by Russia, Romania, Germany, Poland, Bulgaria, Israel, Serbia, Egypt, Italy and Spain, which together accounted for a further 44%.

In terms of the main countries of destination, Spain, with a CAGR of +23.2%, 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 organic pigments export price amounted to $X per ton, with an increase of 21% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Spain ($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 Egypt (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into Greece

In 2021, supplies from abroad of synthetic organic coloring matter and pigments was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, organic pigments imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of organic pigments imports to Greece, together accounting for 60% of total imports. These countries were followed by China, Cyprus, Spain, Sweden, Belgium, Poland, France, the Netherlands and the UK, which together accounted for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +143.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest organic pigments suppliers to Greece were India ($X), Germany ($X) and Italy ($X), with a combined 56% share of total imports. Cyprus, China, Belgium, the Netherlands, Poland, Sweden, France, Spain and the UK lagged somewhat behind, together comprising a further 37%.

Sweden, with a CAGR of +84.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average organic pigments import price stood at $X per ton in 2021, with a decrease of -1.7% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 23% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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