Malaysia: Market for Other Synthetic Organic Colouring Matters 2024

Market Size for Other Synthetic Organic Colouring Matters in Malaysia

The Malaysian synthetic organic colouring matters market was finally on the rise to reach $X in 2022, after three years of decline. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Production of Other Synthetic Organic Colouring Matters in Malaysia

In value terms, synthetic organic colouring matters production expanded slightly to $X in 2022 estimated in export price. Overall, production saw significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 427% against the previous year. Synthetic organic colouring matters production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Other Synthetic Organic Colouring Matters

Exports from Malaysia

After two years of growth, shipments abroad of other synthetic organic colouring matters decreased by -76.8% to X tons in 2022. In general, exports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2013 with an increase of 92% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped rapidly in the following year.

In value terms, synthetic organic colouring matters exports contracted dramatically to $X in 2022. Over the period under review, exports continue to indicate a mild shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 113%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined markedly in the following year.

Exports by Country

Singapore (X tons) was the main destination for synthetic organic colouring matters exports from Malaysia, with a 45% share of total exports. Moreover, synthetic organic colouring matters exports to Singapore exceeded the volume sent to the second major destination, Thailand (X tons), threefold. Indonesia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore totaled +8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-0.8% per year) and Indonesia (+1.5% per year).

In value terms, Indonesia ($X), Thailand ($X) and Vietnam ($X) constituted the largest markets for synthetic organic colouring matters exported from Malaysia worldwide, together accounting for 63% of total exports. Pakistan, Singapore, Bangladesh and Ghana lagged somewhat behind, together accounting for a further 22%.

Pakistan, with a CAGR of +22.4%, saw the highest rates of growth with regard to 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 synthetic organic colouring matters export price stood at $X per ton in 2022, waning by -20.2% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the average export price increased by 31%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Synthetic Organic Colouring Matters

Imports into Malaysia

In 2022, the amount of other synthetic organic colouring matters imported into Malaysia declined rapidly to X tons, which is down by -33.6% against the previous year. Overall, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 19%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, synthetic organic colouring matters imports dropped remarkably to $X in 2022. Over the period under review, imports continue to indicate a mild decline. The growth pace was the most rapid in 2021 when imports increased by 13% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and South Korea (X tons) were the main suppliers of synthetic organic colouring matters imports to Malaysia, together accounting for 67% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +12.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic organic colouring matters suppliers to Malaysia were China ($X), India ($X) and Singapore ($X), together comprising 60% of total imports.

Among the main suppliers, India, with a CAGR of +10.1%, saw the highest rates of growth with regard to 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

The average synthetic organic colouring matters import price stood at $X per ton in 2022, jumping by 18% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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