Key Market Indicators
India's pigment export industry is on track for significant growth, projected to reach approximately 42.9 million kilograms by 2028. This marks an increase from around 38.9 million kilograms in 2023, reflecting a compound annual growth rate (CAGR) of 1.6%. The Indian pigment supply has shown consistent growth since 1993, with an annual increase of 4.5%. India's position in the global pigment market is notable, with Germany, Saudi Arabia, and China following as the second, third, and fourth largest exporters, respectively. On the import side, India's pigment demand is also rising. Forecasts indicate that imports will grow to about 4.4 million kilograms by 2028, up from roughly 3.7 million kilograms in 2023. This represents an average annual growth rate of 2.8%. Since 1993, India's pigment import demand has increased by an average of 2.9% each year.
