The import value of synthetic organic pigments and preparations based thereon to China has exhibited a generally upward trend from 2013 to 2023, with a few fluctuations. The highest annual increase was observed in 2021 with an 18.15% rise, while 2020 experienced a significant drop of 14.18%. In 2023, the import value stood at $402.51 million, marking a moderate increase of 2.91% from the previous year. Over the past five years, the Compound Annual Growth Rate (CAGR) averaged at 2.62%.
Looking ahead from 2024, the forecast data suggests a continued increase in import values, though at a slower pace with a forecasted 5-year CAGR of 2.18%, culminating in a total growth of 11.41% by 2028. The projected import value for 2028 is $460.85 million.
Future trends to watch for include:
- Technological advancements in pigment production.- Changes in environmental regulations affecting production and importation.- Shifts in global trade policies and economic conditions.- Market demand fluctuations driven by industries such as textiles, automotive, and construction.- The impact of sustainability initiatives and preferences for eco-friendly pigments.
