Saudi Arabia: Organic Pigments Market 2024

Organic Pigments Market Size in Saudi Arabia

The Saudi organic pigments market contracted to $X in 2021, declining by -10.3% against the previous year. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.3% 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 +53.7% against 2016 indices. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Organic Pigments Production in Saudi Arabia

In value terms, organic pigments production fell to $X in 2021 estimated in export price. Overall, production, however, recorded strong growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 46% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then contracted in the following year.

Organic Pigments Exports

Exports from Saudi Arabia

In 2021, the amount of synthetic organic coloring matter and pigments exported from Saudi Arabia reduced dramatically to X tons, with a decrease of -35.6% against 2020 figures. In general, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 20%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, organic pigments exports declined sharply to $X in 2021. Over the period under review, exports showed a abrupt decline. The growth pace was the most rapid in 2017 with an increase of 34%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Kuwait (X tons) was the main destination for organic pigments exports from Saudi Arabia, with a 124% share of total exports. Moreover, organic pigments exports to Kuwait exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. Egypt (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to Kuwait totaled -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-15.3% per year) and Egypt (-3.5% per year).

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Egypt ($X) were the largest markets for organic pigments exported from Saudi Arabia worldwide, together comprising 76% of total exports. Jordan, Lebanon, Algeria and Iraq lagged somewhat behind, together accounting for a further 13%.

Among the main countries of destination, Iraq, with a CAGR of +18.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average organic pigments export price amounted to $X per ton, growing by 19% against the previous year. In general, the export price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 49%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Lebanon ($X per ton), while the average price for exports to Kuwait ($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 Iraq (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into Saudi Arabia

In 2021, supplies from abroad of synthetic organic coloring matter and pigments was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, showed a abrupt slump. The growth pace was the most rapid in 2017 when imports increased by 16%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, organic pigments imports expanded modestly to $X in 2021. In general, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 8.2%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of organic pigments to Saudi Arabia, accounting for a 49% share of total imports. Moreover, organic pigments imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. France (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from India stood at +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.2% per year) and France (+14.0% per year).

In value terms, the largest organic pigments suppliers to Saudi Arabia were India ($X), the UK ($X) and China ($X), with a combined 67% share of total imports. France, Germany, the United States, Kuwait, the Netherlands, Italy, the United Arab Emirates, Taiwan (Chinese) and Spain lagged somewhat behind, together comprising a further 40%.

Kuwait, with a CAGR of +41.9%, recorded 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, stabilizing at the previous year. Over the period under review, the import price saw a strong increase. The pace of growth appeared the most rapid in 2020 an increase of 45% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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 the UK ($X per ton), while the price for Kuwait ($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 (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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