Malaysia: Organic Pigments Market 2024

Organic Pigments Market Size in Malaysia

In 2021, the Malaysian organic pigments market was finally on the rise to reach $X after six years of decline. In general, consumption showed a relatively flat trend pattern. Organic pigments consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Organic Pigments Exports

Exports from Malaysia

In 2021, shipments abroad of synthetic organic coloring matter and pigments decreased by -45% to X tons for the first time since 2015, thus ending a five-year rising trend. In general, exports, however, posted a tangible expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 33% against the previous year. As a result, the exports reached the peak of X tons, and then declined dramatically in the following year.

In value terms, organic pigments exports contracted notably to $X in 2021. Over the period under review, total exports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 41% against the previous year. As a result, the exports attained the peak of $X, and then dropped notably in the following year.

Exports by Country

Singapore (X tons) was the main destination for organic pigments exports from Malaysia, with a 108% share of total exports. Moreover, organic pigments 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 32% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore stood at +29.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+16.7% per year) and Indonesia (+19.1% per year).

In value terms, the largest markets for organic pigments exported from Malaysia were Indonesia ($X), Thailand ($X) and Pakistan ($X).

In terms of the main countries of destination, Pakistan, with a CAGR of +64.0%, recorded the highest growth rate of 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

The average organic pigments export price stood at $X per ton in 2021, increasing by 6.4% against the previous year. Overall, the export price, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2017 an increase of 8.1%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into Malaysia

In 2021, supplies from abroad of synthetic organic coloring matter and pigments increased by 21% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, organic pigments imports soared to $X in 2021. The total import value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), India (X tons) and South Korea (X tons) were the main suppliers of organic pigments imports to Malaysia, together accounting for 75% of total imports.

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 +13.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and South Korea ($X) constituted the largest organic pigments suppliers to Malaysia, together accounting for 68% of total imports.

India, with a CAGR of +12.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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, with a decrease of -3.8% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 12% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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