India: Market for Other Synthetic Organic Colouring Matters 2024

Market Size for Other Synthetic Organic Colouring Matters in India

In 2022, the Indian synthetic organic colouring matters market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 India

In value terms, synthetic organic colouring matters production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 14%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Other Synthetic Organic Colouring Matters

Exports from India

In 2022, approx. X tons of other synthetic organic colouring matters were exported from India; waning by -18.7% compared with 2021. Overall, total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +1.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 25%. As a result, the exports attained the peak of X tons, and then fell significantly in the following year.

In value terms, synthetic organic colouring matters exports reduced to $X in 2022. In general, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +21.5% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 36%. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

Bangladesh (X tons), Turkey (X tons) and China (X tons) were the main destinations of synthetic organic colouring matters exports from India, with a combined 32% share of total exports. The United States, Indonesia, Brazil, the Netherlands, Honduras, Vietnam, the United Arab Emirates, Thailand, South Korea and Singapore lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +22.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Turkey ($X) appeared to be the largest markets for synthetic organic colouring matters exported from India worldwide, together accounting for 27% of total exports. Bangladesh, the Netherlands, Indonesia, Brazil, Vietnam, Thailand, the United Arab Emirates, South Korea, Singapore and Honduras lagged somewhat behind, together comprising a further 36%.

Among the main countries of destination, Vietnam, with a CAGR of +22.8%, saw 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

The average synthetic organic colouring matters export price stood at $X per ton in 2022, picking up by 10% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2013 when the average export price increased by 14%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Bangladesh ($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 Singapore (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Synthetic Organic Colouring Matters

Imports into India

In 2022, approx. X tons of other synthetic organic colouring matters were imported into India; dropping by -21.8% on 2021. Over the period under review, total imports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.6% 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 +16.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 49%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, synthetic organic colouring matters imports contracted to $X in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; however, 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 64% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

China (X tons), Singapore (X tons) and the UK (X tons) were the main suppliers of synthetic organic colouring matters imports to India, with a combined 77% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +22.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of other synthetic organic colouring matters to India, comprising 49% of total imports. The second position in the ranking was held by Singapore ($X), with a 14% share of total imports. It was followed by South Korea, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+20.4% per year) and South Korea (+4.8% per year).

Import Prices by Country

The average synthetic organic colouring matters import price stood at $X per ton in 2022, with an increase of 13% against the previous year. Over the period under review, the import price continues to indicate a modest increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 18%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :