Israel: Organic Pigments Market 2024

Organic Pigments Market Size in Israel

For the fourth year in a row, the Israeli organic pigments market recorded growth in sales value, which increased by 28% to $X in 2021. Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value 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, consumption increased by +105.6% against 2017 indices. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in the near future.

Organic Pigments Exports

Exports from Israel

In 2021, overseas shipments of synthetic organic coloring matter and pigments were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, faced a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 114% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, organic pigments exports expanded markedly to $X in 2021. Overall, exports, however, showed a drastic downturn. The growth pace was the most rapid in 2013 when exports increased by 12% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for organic pigments exports from Israel, accounting for a 29% share of total exports. Moreover, organic pigments exports to Turkey exceeded the volume sent to the second major destination, Ukraine (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey stood at +75.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+8.5% per year) and Germany (+3.3% per year).

In value terms, Turkey ($X) emerged as the key foreign market for synthetic organic coloring matter and pigments exports from Israel, comprising 28% of total exports. The second position in the ranking was taken by Germany ($X), with an 11% share of total exports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey stood at +92.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+10.1% per year) and the United States (+2.8% per year).

Export Prices by Country

The average organic pigments export price stood at $X per ton in 2021, falling by -21.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 119%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then dropped significantly in the following year.

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 Taiwan (Chinese) ($X per ton), while the average price for exports to Ukraine ($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 Jordan (+27.9%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into Israel

In 2021, after three years of decline, there was significant growth in overseas purchases of synthetic organic coloring matter and pigments, when their volume increased by 26% to X tons. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, organic pigments imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), Greece (X tons) and China (X tons) were the main suppliers of organic pigments imports to Israel.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +23.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest organic pigments suppliers to Israel were China ($X), India ($X) and Germany ($X), with a combined 54% share of total imports.

In terms of the main suppliers, India, with a CAGR of +16.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average organic pigments import price amounted to $X per ton, growing by 3.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2018 when the average import price increased by 11% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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 the UK ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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