From 2013 to 2018, the dyes and pigments market in Lithuania experienced a consistent growth trend, reaching its peak in 2018 with a value of 25.39 million Euros. However, from 2019 onwards, the market showed a continuous decline, reaching 14.735 million Euros in 2023, translating to a five-year CAGR of -10.31%. Importantly, the year-on-year variations over the last two years were -11.76% in 2022 and -13.19% in 2023, indicating a worsening devaluation trend.
In the future, focus on potential recovery factors such as innovation in environmentally friendly dyes and pigments, regulatory changes, and economic revival to stimulate market growth. Monitoring these trends will be crucial for anticipating shifts in market dynamics.
How does Lithuania rank in Dyes and Pigments Market Size Value?
| # | 14 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 3,456,500,000 | 2023 | +1.38% | -4.62% | View data |
| 2 | 2 Italy | 2,595,200,000 | 2023 | +0.89% | +1.13% | View data |
| 3 | 3 France | 1,266,600,000 | 2023 | +0.19% | +0.022% | View data |
| 4 | 4 Spain | 803,850,000 | 2023 | -12.06% | -11.08% | View data |
| 5 | 5 Poland | 720,050,000 | 2023 | +3.52% | +1.46% | View data |
| 11 | 11 Hungary | 118,510,000 | 2023 | +0.24% | +0.69% | View data |
| 12 | 12 Bulgaria | 46,611,000 | 2023 | +2.15% | -0.37% | View data |
| 13 | 13 Lithuania | 14,735,000 | 2023 | -13.19% | -10.31% | |
| 14 | 14 Croatia | 11,883,000 | 2023 | -11.6% | -7.27% | View data |
