The Finnish dyes and pigments market has experienced a significant decline, starting from a turnover of 361.4 million Euros in 2013 to an estimated 90.5 million Euros in 2023. The decline became particularly pronounced from 2017 onwards, with substantial yearly decreases. In 2023 alone, the turnover decreased by 12.48% from 2022. The 5-year CAGR sits at -10.31%, indicating an average yearly drop. The forecast predicts a continued downturn, with turnover plummeting to 26.7 million Euros by 2028, marking a forecasted 5-year CAGR of -19.22%.
Future trends to watch for:
- Technological advancements in dye and pigment production.
- Shifts towards sustainable and eco-friendly alternatives.
- Changing import-export dynamics with neighboring regions.
