Sri Lanka: Colour Lake Market 2024

Colour Lake Market Size in Sri Lanka

The Sri Lankan colour lake market soared to $X in 2021, picking up by 199% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a deep contraction. Colour lake consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Colour Lake Exports

Exports from Sri Lanka

In 2021, approx. X tons of colour lakes, preparations based on colour lakes were exported from Sri Lanka; reducing by -25.8% against 2020. Over the period under review, exports, however, showed significant growth. The pace of growth was the most pronounced in 2014 with an increase of 434%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, colour lake exports shrank to $X in 2021. In general, exports, however, saw significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 475% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for colour lake exports from Sri Lanka, accounting for a 83% share of total exports. Moreover, colour lake exports to Malaysia exceeded the volume sent to the second major destination, India (X kg), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia stood at +34.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+24.0% per year) and Maldives (+8.2% per year).

In value terms, Malaysia ($X) remains the key foreign market for colour lakes, preparations based on colour lakes exports from Sri Lanka, comprising 53% of total exports. The second position in the ranking was held by India ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Malaysia stood at +25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+19.8% per year) and Maldives (+29.4% per year).

Export Prices by Country

In 2021, the average colour lake export price amounted to $X per ton, increasing by 28% against the previous year. In general, the export price, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2016 an increase of 43% against the previous year. Over the period under review, the average export prices hit record highs 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 Maldives ($X per ton), while the average price for exports to Malaysia ($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 Maldives (+19.6%), while the prices for the other major destinations experienced a decline.

Colour Lake Imports

Imports into Sri Lanka

In 2021, purchases abroad of colour lakes, preparations based on colour lakes increased by 260% to X tons, rising for the third year in a row after four years of decline. In general, imports, however, recorded a deep setback. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, colour lake imports soared to $X in 2021. Overall, imports, however, faced a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of 157%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest colour lake supplier to Sri Lanka, with a 56% share of total imports. Moreover, colour lake imports from India exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. Vietnam (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from India stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-16.6% per year) and Vietnam (+20.3% per year).

In value terms, India ($X), Singapore ($X) and Thailand ($X) appeared to be the largest colour lake suppliers to Sri Lanka, with a combined 77% share of total imports. Vietnam, China and the United Arab Emirates lagged somewhat behind, together accounting for a further 11%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +32.0%, 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 colour lake import price amounted to $X per ton, declining by -31.1% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 103% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+29.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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