India: Organic Pigments Market 2024

Organic Pigments Market Size in India

For the ninth consecutive year, the Indian organic pigments market recorded decline in sales value, which decreased by -14.6% to $X in 2021. Overall, consumption saw a abrupt contraction. The pace of growth appeared the most rapid in 2020 when the market value decreased by -4.1% against the previous year. Organic pigments consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Organic Pigments Production in India

In value terms, organic pigments production expanded rapidly to $X in 2021 estimated in export price. In general, production, however, showed a deep slump. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Organic Pigments Exports

Exports from India

In 2021, organic pigments exports from India soared to X tons, with an increase of 24% against the year before. Overall, total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, organic pigments exports skyrocketed to $X in 2021. In general, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons), Bangladesh (X tons) and China (X tons) were the main destinations of organic pigments exports from India, with a combined 29% share of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +19.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Turkey ($X) constituted the largest markets for organic pigments exported from India worldwide, together comprising 27% of total exports.

China, with a CAGR of +19.5%, recorded the highest growth rate of the value of exports, in terms of 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

The average organic pigments export price stood at $X per ton in 2021, picking up by 7.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2013 an increase of 14% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into India

In 2021, supplies from abroad of synthetic organic coloring matter and pigments increased by 43% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2016; however, from 2017 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 +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest organic pigments supplier to India, with a 50% share of total imports. Moreover, organic pigments imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), twofold. The UK (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+21.9% per year) and the UK (+22.4% per year).

In value terms, China ($X) constituted the largest supplier of synthetic organic coloring matter and pigments to India, comprising 54% of total imports. The second position in the ranking was held by Singapore ($X), with a 9.6% share of total imports. It was followed by Germany, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+22.6% per year) and Germany (-6.7% per year).

Import Prices by Country

The average organic pigments import price stood at $X per ton in 2021, picking up by 6.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2019 an increase of 17% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Singapore ($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 (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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