Latin America and the Caribbean: Colour Lake Market 2024

Colour Lake Market Size in Latin America and the Caribbean

The Latin American colour lake market expanded significantly to $X in 2021, increasing by 7% against the previous year. Overall, consumption, however, continues to indicate a prominent increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Colour Lake Production in Latin America and the Caribbean

In value terms, colour lake production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of 50%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Colour Lake Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of colour lakes, preparations based on colour lakes decreased by -46.9% to X tons, falling for the third consecutive year after three years of growth. In general, exports faced a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 28%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, colour lake exports surged to $X in 2021. Total exports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 35% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Peru prevails in exports structure, accounting for X tons, which was approx. 78% of total exports in 2021. El Salvador (X tons) took a 7.9% share (based on physical terms) of total exports, which put it in second place, followed by Colombia (7.3%). The following exporters - Costa Rica (X tons) and Guatemala (X tons) - each reached a 3.6% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to colour lake exports from Peru stood at -16.1%. At the same time, Guatemala (+11.7%), El Salvador (+6.8%) and Colombia (+2.3%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +11.7% from 2012-2021. By contrast, Costa Rica (-15.2%) illustrated a downward trend over the same period. While the share of El Salvador (+6.8 p.p.), Colombia (+5.9 p.p.) and Guatemala (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Peru (-13.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) remains the largest colour lake supplier in Latin America and the Caribbean, comprising 93% of total exports. The second position in the ranking was taken by Colombia ($X), with a 3.4% share of total exports. It was followed by El Salvador, with a 1.1% share.

In Peru, colour lake exports expanded at an average annual rate of +2.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (+2.6% per year) and El Salvador (+5.0% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, growing by 117% against the previous year. Overall, the export price continues to indicate resilient growth. The pace of growth was the most pronounced in 2019 an increase of 146%. Over the period under review, the export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Peru ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+22.4%), while the other leaders experienced more modest paces of growth.

Colour Lake Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of colour lakes, preparations based on colour lakes increased by 2.2% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports, however, continue to indicate a perceptible downturn. The growth pace was the most rapid in 2013 when imports increased by 7.5% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, colour lake imports fell modestly to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 16% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Mexico was the key importing country with an import of around X tons, which reached 35% of total imports. Guatemala (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Brazil (9.9%), Aruba (6.6%), Chile (5.3%) and Honduras (5.1%). Colombia (X tons), the Dominican Republic (X tons), Cuba (X tons), Ecuador (X tons), Nicaragua (X tons), Bahamas (X tons) and Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to colour lake imports into Mexico stood at -2.2%. At the same time, the Dominican Republic (+16.7%), Cuba (+12.6%), Bahamas (+10.2%), Ecuador (+7.6%), Chile (+5.2%), Honduras (+4.5%) and Colombia (+3.1%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +16.7% from 2012-2021. Brazil experienced a relatively flat trend pattern. By contrast, Guatemala (-1.9%), Argentina (-5.2%), Nicaragua (-9.1%) and Aruba (-15.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Chile, Mexico, Honduras, the Dominican Republic, Cuba, Brazil and Colombia increased by +2.8, +2.7, +2.5, +2.2, +1.9, +1.8 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and Colombia ($X) were the countries with the highest levels of imports in 2021, together comprising 69% of total imports. These countries were followed by Chile, Argentina, Guatemala, Aruba, Ecuador, the Dominican Republic, Honduras, Bahamas, Nicaragua and Cuba, which together accounted for a further 22%.

The Dominican Republic, with a CAGR of +8.7%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, which is down by -5% against the previous year. Import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, colour lake import price decreased by +0.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 25% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Cuba ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nicaragua (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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