Thailand: Organic Pigments Market 2024

Organic Pigments Market Size in Thailand

The Thai organic pigments market surged to $X in 2021, rising by 23% against the previous year. The market value increased at an average annual rate of +4.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Organic pigments consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Organic Pigments Production in Thailand

In value terms, organic pigments production soared to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.1% 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 -19.0% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 41%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Organic Pigments Exports

Exports from Thailand

In 2021, overseas shipments of synthetic organic coloring matter and pigments increased by 26% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, organic pigments exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 39%. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Egypt (X tons) and Singapore (X tons) were the main destinations of organic pigments exports from Thailand, with a combined 43% share of total exports. These countries were followed by Myanmar, Bangladesh, Vietnam, India, Pakistan, Indonesia, the Netherlands, Japan, Turkey and Taiwan (Chinese), which together accounted for a further 48%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +76.2%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for synthetic organic coloring matter and pigments exports from Thailand, comprising 30% of total exports. The second position in the ranking was held by Singapore ($X), with an 8.6% share of total exports. It was followed by India, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+3.8% per year) and India (+5.9% per year).

Export Prices by Country

The average organic pigments export price stood at $X per ton in 2021, growing by 6.1% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 27%. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Myanmar ($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 China (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into Thailand

In 2021, supplies from abroad of synthetic organic coloring matter and pigments increased by 15% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 97%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, organic pigments imports rose sharply to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2018 when imports increased by 14% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of organic pigments imports to Thailand, with a combined 81% share of total imports. These countries were followed by Indonesia, Malaysia, Japan, Pakistan and Germany, which together accounted for a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of +41.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Japan ($X) constituted the largest organic pigments suppliers to Thailand, together comprising 69% of total imports. These countries were followed by Germany, Taiwan (Chinese), Indonesia, Malaysia and Pakistan, which together accounted for a further 12%.

Pakistan, with a CAGR of +32.2%, saw the highest rates of growth with regard to 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

The average organic pigments import price stood at $X per ton in 2021, approximately equating the previous year. In general, the import price, however, recorded a mild increase. The pace of growth was the most pronounced in 2019 an increase of 90% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 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 Japan ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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