Key Market Indicators
Armenia's pigment import is projected to rise to approximately 124,000 kilograms by 2028, up from around 114,000 kilograms in 2023. This marks an average annual growth rate of 1.5%. Despite this growth, the country's demand for pigments has seen a yearly decline of 3.6% since 2002. On the export front, Armenia is expected to increase its pigment exports to roughly 5,100 kilograms by 2028, compared to about 4,200 kilograms in 2023. This represents an average annual growth rate of 3%. Over the past two decades, Armenian pigment supply has surged by 6.7% per year. In 2023, Armenia ranked 60th in global pigment exports, with Slovakia surpassing it with the same export volume of roughly 4,200 kilograms. Leading the rankings were Germany, Saudi Arabia, and China, occupying the second, third, and fourth positions, respectively.
