Indonesia: Organic Pigments Market 2024

Organic Pigments Market Size in Indonesia

In 2021, after two years of decline, there was significant growth in the Indonesian organic pigments market, when its value increased by 8.9% to $X. The market value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Organic pigments consumption peaked at $X in 2018; afterwards, it flattened through to 2021.

Organic Pigments Production in Indonesia

In value terms, organic pigments production rose modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.3% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 16% against the previous year. Organic pigments production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Organic Pigments Exports

Exports from Indonesia

In 2021, the amount of synthetic organic coloring matter and pigments exported from Indonesia skyrocketed to X tons, picking up by 27% against 2020. The total export volume increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when exports increased by 37% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

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

Exports by Country

Singapore (X tons), Bangladesh (X tons) and Germany (X tons) were the main destinations of organic pigments exports from Indonesia, with a combined 37% share of total exports. These countries were followed by China, Pakistan, the United States, Vietnam, South Korea, Turkey, Japan, the Netherlands, Thailand and the Philippines, which together accounted for a further 39%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +39.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for organic pigments exported from Indonesia were Singapore ($X), China ($X) and the United States ($X), with a combined 30% share of total exports. The Netherlands, Vietnam, Germany, Bangladesh, Turkey, Japan, Pakistan, South Korea, Thailand and the Philippines lagged somewhat behind, together comprising a further 47%.

Among the main countries of destination, the Netherlands, with a CAGR of +54.7%, 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

In 2021, the average organic pigments export price amounted to $X per ton, increasing by 7.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2017 an increase of 38% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Bangladesh ($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 China (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into Indonesia

In 2021, supplies from abroad of synthetic organic coloring matter and pigments increased by 29% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, organic pigments imports surged to $X in 2021. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and Singapore (X tons) were the main suppliers of organic pigments imports to Indonesia, with a combined 82% share of total imports. South Korea, Thailand, Taiwan (Chinese), Malaysia, Japan and Germany lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +9.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of synthetic organic coloring matter and pigments to Indonesia, comprising 50% of total imports. The second position in the ranking was held by India ($X), with a 25% share of total imports. It was followed by South Korea, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.0% per year) and South Korea (+2.2% per year).

Import Prices by Country

The average organic pigments import price stood at $X per ton in 2021, growing by 4.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 16%. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, 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 Japan ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :