Portugal: Organic Pigments Market 2024

Organic Pigments Market Size in Portugal

In 2021, the Portuguese organic pigments market increased by 10% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Organic Pigments Production in Portugal

In value terms, organic pigments production shrank to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 34% against the previous year. Organic pigments production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Organic Pigments Exports

Exports from Portugal

In 2021, the amount of synthetic organic coloring matter and pigments exported from Portugal surged to X tons, growing by 28% on the year before. Overall, exports, however, recorded a mild contraction. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, organic pigments exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +12.2% against 2018 indices. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons), Germany (X tons) and France (X tons) were the main destinations of organic pigments exports from Portugal, together comprising 66% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +21.5%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and Singapore ($X) appeared to be the largest markets for organic pigments exported from Portugal worldwide, together accounting for 69% of total exports.

In terms of the main countries of destination, Spain, with a CAGR of +28.0%, recorded the highest rates of growth with regard to 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

In 2021, the average organic pigments export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2013 an increase of 33%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

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 Morocco ($X per ton), while the average price for exports to France ($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 Angola (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into Portugal

In 2021, supplies from abroad of synthetic organic coloring matter and pigments increased by 14% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 23% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, organic pigments imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 24% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) constituted the largest organic pigments supplier to Portugal, accounting for a 42% share of total imports. Moreover, organic pigments imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by India (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.6% per year) and India (+8.2% per year).

In value terms, Germany ($X), Spain ($X) and India ($X) constituted the largest organic pigments suppliers to Portugal, together comprising 69% of total imports. Italy, the Netherlands, Belgium, China and the UK lagged somewhat behind, together accounting for a further 21%.

In terms of the main suppliers, Belgium, with a CAGR of +8.3%, 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, surging by 2.9% against the previous year. Over the last nine years, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2020 an increase of 15% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($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 UK (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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