Peru: Organic Pigments Market 2024

Organic Pigments Market Size in Peru

In 2021, the Peruvian organic pigments market increased by 17% to $X, rising for the third year in a row after two years of decline. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 +47.0% against 2018 indices. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in the immediate term.

Organic Pigments Production in Peru

In value terms, organic pigments production reduced slightly to $X in 2021 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.8% against 2016 indices. The most prominent rate of growth was recorded in 2016 with an increase of 44% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Organic Pigments Exports

Exports from Peru

In 2021, overseas shipments of synthetic organic coloring matter and pigments decreased by -47.9% to X tons, falling for the third year in a row after three years of growth. Over the period under review, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 30% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, organic pigments exports surged to $X in 2021. Overall, total exports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when exports increased by 39% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons), Denmark (X tons) and the United States (X tons) were the main destinations of organic pigments exports from Peru.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +26.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for organic pigments exported from Peru were Denmark ($X), the United States ($X) and Brazil ($X), together accounting for 48% of total exports. Russia, Mexico, China, Germany, the UK, Chile, Spain, Ecuador, Panama and Thailand lagged somewhat behind, together comprising a further 38%.

Among the main countries of destination, Panama, with a CAGR of +39.3%, saw 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, jumping by 131% against the previous year. Over the period under review, the export price posted a significant increase. The pace of growth was the most pronounced in 2019 an increase of 152%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Thailand ($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 Panama (+23.8%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into Peru

In 2021, after two years of decline, there was significant growth in purchases abroad of synthetic organic coloring matter and pigments, when their volume increased by 43% to X tons. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, 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.

In value terms, organic pigments imports surged to $X in 2021. The total import value increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), China (X tons) and South Korea (X tons) were the main suppliers of organic pigments imports to Peru, together accounting for 62% of total imports. Spain, Brazil, Guatemala, Switzerland, Colombia, Mexico, Germany, the United States, Taiwan (Chinese) and Thailand lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +40.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and South Korea ($X) appeared to be the largest organic pigments suppliers to Peru, together accounting for 57% of total imports. These countries were followed by Switzerland, Mexico, Spain, Germany, Thailand, Brazil, Taiwan (Chinese), the United States, Guatemala and Colombia, which together accounted for a further 30%.

Among the main suppliers, Guatemala, with a CAGR of +42.8%, recorded 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, increasing by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 37% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a 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 Switzerland ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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