The export of pigments for paints and dyes packaged for retail from Uruguay expressed in thousand kilograms has shown significant variability over the years. The peak was reached in 2015, with a steady decline observed from 2016 onwards. The recent years have demonstrated a mild recovery, peaking in mixed trends. Specifically, 2023 saw a slight decline of 1.39% year-on-year, continuing from a small improvement in 2021 and 2022. The compound annual growth rate over the past five years stands at a modest 1.14%.
Future trends to watch for include the forecasted steady decline in export volumes, with a predicted CAGR of -1.2% over the next five years. This downtrend signifies challenges in maintaining export levels amid potential global market changes, economic factors, and competitive pressures. Close monitoring of international demand, tariff policies, and advancements in pigment technologies could provide deeper insights into reversing or mitigating this forecasted decline.