Key Market Indicators
Indonesian pigment exports are projected to decline to approximately 51,000 kilograms by 2028, down from around 82,000 kilograms in 2023. This represents an average annual decrease of 7.3%. Despite this decline, the country has seen a historical annual growth rate of 2.4% in pigment supply since 1994. In 2023, Indonesia ranked 45th in global pigment exports, with Serbia surpassing it at the same export level of nearly 82,000 kilograms. Leading the global rankings were Germany, Saudi Arabia, and China, occupying the second, third, and fourth positions respectively. Conversely, Indonesian pigment imports are on an upward trajectory. Imports are expected to reach nearly 6.5 million kilograms by 2028, up from about 5.8 million kilograms in 2023, reflecting a compound annual growth rate (CAGR) of 1.7%. Since 1994, the nation's demand for pigments has increased by 2.6% annually.
