Singapore: Organic Pigments Market 2024

Organic Pigments Market Size in Singapore

In 2022, the Singaporean organic pigments market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a deep setback. Organic pigments consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Organic Pigments Production in Singapore

In value terms, organic pigments production fell slightly to $X in 2022 estimated in export price. Overall, production, however, recorded buoyant growth. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Organic Pigments Exports

Exports from Singapore

In 2022, exports of synthetic organic coloring matter and pigments from Singapore contracted to X tons, with a decrease of X% compared with the previous year's figure. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, organic pigments exports soared to $X in 2022. Overall, exports, however, recorded a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Bangladesh (X tons), India (X tons) and Indonesia (X tons) were the main destinations of organic pigments exports from Singapore, together comprising X% of total exports. Myanmar, Pakistan, China, Thailand, Vietnam, Malaysia, Japan and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

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

From 2012 to 2021, the average annual growth rate of value to Bangladesh stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and India (X% per year).

Export Prices by Country

The average organic pigments export price stood at $X per ton in 2021, flattening at the previous year. Overall, the export price, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2019 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

Organic Pigments Imports

Imports into Singapore

In 2022, approx. X tons of synthetic organic coloring matter and pigments were imported into Singapore; waning by X% on the year before. In general, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, organic pigments imports reached $X in 2022. The total import value increased at an average annual rate of X% 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 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and Indonesia (X tons) were the main suppliers of organic pigments imports to Singapore, with a combined X% share of total imports. Thailand, Germany, Japan, Spain and the United States lagged somewhat behind, together accounting for a further X%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Germany ($X) appeared to be the largest organic pigments suppliers to Singapore, with a combined X% share of total imports. Indonesia, Japan, Thailand, the United States and Spain lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Spain, with a CAGR of X%, saw the highest rates of growth with regard to 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, rising by X% against the previous year. Over the period under review, the import price, however, continues to indicate a slight descent. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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 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 India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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