The import of synthetic organic pigments and preparations based thereon to Thailand has shown consistent growth with several fluctuations over the years. From 2013 to 2023, the import volume increased from 7.3092 million kilograms to 10.255 million kilograms. The year-on-year variation was notably significant in years like 2016 (9.38%), 2021 (17.19%), and 2020 (-14.93%), highlighting certain market volatilities. The Compound Annual Growth Rate (CAGR) has gradually decreased from 6.93% in 2014 to 2.28% by 2023, reflecting a stabilizing but still positive growth trend.
Looking forward, the forecasted data suggests a more modest growth trajectory with the import volume expected to reach 11.375 million kilograms by 2028. The five-year CAGR for the forecast period stands at 1.69%, indicating a slower but steady increase, culminating in a total growth rate of 8.73% over these five years.
Future trends to watch for include:
- Changes in global trade policies that could affect import conditions.
- Advancements in alternative pigments and their potential impact on demand for synthetic organic pigments.
- Economic shifts within Thailand that could influence import volumes and growth rates.
- Environmental regulations impacting the production and use of synthetic organic pigments.
