Synthetic Organic Colouring Matters Market

The global market for synthetic organic colouring matters is expected to see continued growth in consumption, production, imports, and exports from 2022 to 2030. Market performance is forecasted to have a slight deceleration, with consumption volume reaching 4M tons and market value reaching $41.7B by 2030. Top consuming countries in 2022 were Turkey, China, and the United States. Production peaked in 2021 at 3.2M tons, with China, Turkey, and India leading in production. Imports and exports showed fluctuations, with India and China being the main exporters in 2022. The average export price was $8,603 per ton. Overall, the market is expected to retain growth in the coming years, with notable rate increases in various countries across consumption, production, imports, and exports.

Market Forecast

Driven by increasing demand for other synthetic organic colouring matters worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market volume to 4M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.0% for the period from 2022 to 2030, which is projected to bring the market value to $41.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Other Synthetic Organic Colouring Matters

In 2022, consumption of other synthetic organic colouring matters decreased by less than 0.1% to 3.2M tons for the first time since 2018, thus ending a three-year rising trend. The total consumption volume increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption reached the maximum volume at 3.2M tons in 2021, and then contracted slightly in the following year.

The global synthetic organic colouring matters market value expanded slightly to $28.1B in 2022, with an increase of 2.1% 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). In general, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +69.7% against 2012 indices. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Turkey (782K tons), China (556K tons) and the United States (250K tons), together comprising 50% of global consumption. India, Bangladesh, Japan, Brazil, Indonesia, Mexico, Germany, Singapore, South Korea and Italy lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Singapore (with a CAGR of +40.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Turkey ($5.8B), the United States ($3.8B) and China ($3.7B) constituted the countries with the highest levels of market value in 2022, with a combined 47% share of the global market. Japan, India, South Korea, Mexico, Singapore, Germany, Brazil, Bangladesh, Italy and Indonesia lagged somewhat behind, together accounting for a further 33%.

Among the main consuming countries, Singapore, with a CAGR of +41.9%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of synthetic organic colouring matters per capita consumption in 2022 were Singapore (12 kg per person), Turkey (9.1 kg per person) and Germany (0.9 kg per person).

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +38.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Other Synthetic Organic Colouring Matters

After three years of growth, production of other synthetic organic colouring matters decreased by -3.9% to 3.1M tons in 2022. The total output volume increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 16% against the previous year. Over the period under review, global production reached the peak volume at 3.2M tons in 2021, and then dropped slightly in the following year.

In value terms, synthetic organic colouring matters production contracted to $23.6B in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.0% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 24%. Global production peaked at $29.6B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (756K tons), Turkey (718K tons) and India (498K tons), together accounting for 64% of global production.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +29.6%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Other Synthetic Organic Colouring Matters

In 2022, the amount of other synthetic organic colouring matters imported worldwide contracted to 1.3M tons, declining by -7.2% compared with 2021 figures. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 21%. As a result, imports reached the peak of 1.4M tons, and then declined in the following year.

In value terms, synthetic organic colouring matters imports dropped slightly to $11.9B in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 when imports increased by 25%. As a result, imports attained the peak of $12.4B, and then fell slightly in the following year.

Imports By Country

The countries with the highest levels of synthetic organic colouring matters imports in 2022 were Bangladesh (103K tons), Turkey (93K tons), Singapore (88K tons), Germany (78K tons), the United States (59K tons), South Korea (46K tons), China (43K tons), Belgium (40K tons), the Netherlands (38K tons), Italy (34K tons), Indonesia (34K tons) and Spain (33K tons), together resulting at 54% of total import. Pakistan (33K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Singapore (with a CAGR of +19.2%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Singapore ($1.1B), China ($929M) and South Korea ($798M) appeared to be the countries with the highest levels of imports in 2022, with a combined 24% share of global imports.

Singapore, with a CAGR of +21.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average synthetic organic colouring matters import price amounted to $9,361 per ton, rising by 3.7% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 6.4%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($21,444 per ton), while Bangladesh ($5,446 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Other Synthetic Organic Colouring Matters

In 2022, approx. 1.2M tons of other synthetic organic colouring matters were exported worldwide; dropping by -16.2% compared with 2021. The total export volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 20%. As a result, the exports attained the peak of 1.4M tons, and then dropped rapidly in the following year.

In value terms, synthetic organic colouring matters exports dropped to $9.9B in 2022. The total export value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 24%. As a result, the exports reached the peak of $11.4B, and then shrank in the following year.

Exports By Country

In 2022, India (315K tons) and China (243K tons) were the main exporters of other synthetic organic colouring mattersacross the globe, together amounting to approx. 48% of total exports. It was distantly followed by Germany (68K tons) and South Korea (54K tons), together achieving an 11% share of total exports. Spain (45K tons), the United States (42K tons), Belgium (36K tons), Singapore (36K tons), Turkey (28K tons), the Netherlands (27K tons), Greece (22K tons), Taiwan (Chinese) (22K tons) and the UK (20K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +14.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest synthetic organic colouring matters supplying countries worldwide were India ($2B), China ($1.8B) and Germany ($1B), with a combined 49% share of global exports. The United States, South Korea, Belgium, the Netherlands, Singapore, Taiwan (Chinese), Spain, the UK, Turkey and Greece lagged somewhat behind, together comprising a further 32%.

Among the main exporting countries, Turkey, with a CAGR of +15.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average synthetic organic colouring matters export price stood at $8,603 per ton in 2022, picking up by 3.9% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 5.5%. Over the period under review, the average export prices hit record highs at $8,716 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($18,807 per ton), while Greece ($3,374 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform