Iran: Basic Dye Market 2024

Basic Dye Market Size in Iran

In 2021, the Iranian basic dye market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, showed a mild setback. Basic dye consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Basic Dye Exports

Exports from Iran

In 2021, the amount of basic dyes and preparations based thereon exported from Iran skyrocketed to X tons, picking up by 153% against the previous year's figure. Overall, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 826% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, basic dye exports soared to $X in 2021. In general, exports, however, continue to indicate a mild contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 364% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ukraine (X tons) was the main destination for basic dye exports from Iran, accounting for a 57% share of total exports. Moreover, basic dye exports to Ukraine exceeded the volume sent to the second major destination, Tajikistan (X tons), twofold. Azerbaijan (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ukraine totaled +30.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tajikistan (+56.1% per year) and Azerbaijan (+18.9% per year).

In value terms, Tajikistan ($X), Ukraine ($X) and Azerbaijan ($X) appeared to be the largest markets for basic dye exported from Iran worldwide, with a combined 84% share of total exports.

Tajikistan, with a CAGR of +44.3%, saw 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

In 2021, the average basic dye export price amounted to $X per ton, declining by -30.7% against the previous year. Overall, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2013 an increase of 20% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Ukraine ($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 Uzbekistan (+2.0%), while the prices for the other major destinations experienced a decline.

Basic Dye Imports

Imports into Iran

In 2021, supplies from abroad of basic dyes and preparations based thereon was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2015 when imports increased by 106%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, basic dye imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 105%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Turkey (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of basic dye imports to Iran, together accounting for 84% of total imports. The United Arab Emirates, Italy, South Korea and India lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +54.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of basic dyes and preparations based thereon to Iran, comprising 59% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 13% share of total imports. It was followed by Turkey, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+3.7% per year) and Turkey (+23.5% per year).

Import Prices by Country

The average basic dye import price stood at $X per ton in 2021, which is down by -5.6% against the previous year. Overall, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, basic dye import price decreased by -18.2% against 2019 indices. The growth pace was the most rapid in 2018 an increase of 27%. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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 Taiwan (Chinese) ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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