Guatemala: Market for Other Synthetic Organic Colouring Matters 2024

Market Size for Other Synthetic Organic Colouring Matters in Guatemala

The Guatemalan synthetic organic colouring matters market dropped to $X in 2022, waning by -3.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed prominent growth. As a result, consumption reached the peak level of $X, and then reduced slightly in the following year.

Exports of Other Synthetic Organic Colouring Matters

Exports from Guatemala

In 2022, synthetic organic colouring matters exports from Guatemala dropped to X tons, with a decrease of -10.7% against the previous year's figure. Over the period under review, exports showed a slight decline. The pace of growth appeared the most rapid in 2016 with an increase of 29% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, synthetic organic colouring matters exports shrank to $X in 2022. In general, exports saw a slight downturn. The growth pace was the most rapid in 2021 with an increase of 42% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

El Salvador (X tons), Costa Rica (X tons) and the Dominican Republic (X tons) were the main destinations of synthetic organic colouring matters exports from Guatemala, together accounting for 61% of total exports. Nicaragua, Honduras, Panama and Mexico lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of +28.3%), while the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X), Costa Rica ($X) and the Dominican Republic ($X) appeared to be the largest markets for synthetic organic colouring matters exported from Guatemala worldwide, together comprising 69% of total exports. Nicaragua, Honduras, Mexico and Panama lagged somewhat behind, together accounting for a further 26%.

Panama, with a CAGR of +29.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average synthetic organic colouring matters export price amounted to $X per ton, falling by -2.1% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 18% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Nicaragua ($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 Costa Rica (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Synthetic Organic Colouring Matters

Imports into Guatemala

After two years of growth, overseas purchases of other synthetic organic colouring matters decreased by -11.7% to X tons in 2022. Over the period under review, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 51%. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, synthetic organic colouring matters imports shrank modestly to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 50% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, South Korea (X tons) constituted the largest synthetic organic colouring matters supplier to Guatemala, with a 39% share of total imports. Moreover, synthetic organic colouring matters imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by India (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.3% per year) and India (+13.5% per year).

In value terms, the largest synthetic organic colouring matters suppliers to Guatemala were South Korea ($X), China ($X) and India ($X), together accounting for 68% of total imports.

China, with a CAGR of +20.2%, saw the highest growth rate of 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 synthetic organic colouring matters import price stood at $X per ton in 2022, increasing by 11% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 19%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for South Korea ($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 (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform