The export volume of pigments for paints and dyes packaged for retail from Indonesia has shown significant fluctuations over the past decade. Standing at 81.53 thousand kilograms in 2023, the volume peaked in 2014 at 282.65 thousand kilograms before progressively declining. Over the last two years, the volume dropped by 6.58% year-on-year from 2022 to 2023 and by 1.36% from 2021 to 2022. The average annual decline over the last five years (CAGR) was 2.43%.
Looking forward, the forecast indicates a continued decline, with an average annual decrease of 7.31% (CAGR) from 2024 to 2028. The volume is expected to drop to 51.25 thousand kilograms by 2028, representing a 31.57% reduction from 2023.
Future trends to watch for:
- The impact of environmental regulations on pigment manufacturing processes.
- Shifts in global demand for pigments due to changes in the paint and dye industries.
- Technological advancements that could lead to more efficient pigment production or alternative materials.
- Geopolitical factors affecting international trade policies and agreements.