Key Market Indicators
Honduras has experienced a significant decline in its pigment exports, which totaled approximately 4,800 kilograms in 2023. This marks a 16.1% drop from the 5,700 kilograms exported in 2022. Over a longer period, the country's pigment supply has been gradually decreasing, with an annual decline rate of 12.9% since 2002. In contrast, Honduras's pigment imports are on an upward trajectory. The nation is projected to import around 580,500 kilograms by 2028, up from roughly 528,400 kilograms in 2023. This indicates an average annual growth rate of 1.5% in pigment imports. Since 1999, the demand for pigments in Honduras has increased steadily, with a year-on-year rise of 2.2%. These contrasting trends highlight a shift in Honduras's pigment market dynamics, with a decrease in domestic supply and a growing reliance on imports to meet the demand.
