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U.S. - Paints And Varnishes - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

U.S. - Paints And Varnishes - Market Analysis, Forecast, Size, Trends And Insights

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May 17, 2023

Paint and Varnish Price in United States Hits New Record of $25.4 per kg

U.S. Paint and Varnish Export Price in March 2023

In March 2023, the paint and varnish price amounted to $25,386 per ton (FOB, US), picking up by 2.6% against the previous month. Over the period from March 2022 to March 2023, it increased at an average monthly rate of +1.0%. The pace of growth appeared the most rapid in December 2022 when the average export price increased by 8% month-to-month. Over the period under review, the average export prices hit record highs in March 2023.

There were significant differences in the average prices for the major overseas markets. In March 2023, the country with the highest price was China ($40,517 per ton), while the average price for exports to Panama ($10,569 per ton) was amongst the lowest.

From March 2022 to March 2023, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

COUNTRYExport Price of Paint and Varnish in U.S. (USD per ton)
Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023
China36,38124,78528,39633,14135,59433,87030,66043,23637,60651,12557,98445,24140,517
Canada21,29921,56322,36722,12021,70621,51221,95022,59721,81822,29223,45223,23024,260
Mexico20,45520,80720,71720,21622,55622,17021,01622,22021,50620,12821,40123,65823,849
Jamaica3,7985,89010,34710,7218,18110,1544,2806,1512,4863,3763,03313,91314,277
Panama17,92717,65711,58913,63313,44716,13815,95222,42514,78015,5157,6736,86110,569
Average22,52022,67023,22123,15924,21023,24323,07224,48422,44624,24623,87424,73825,386

U.S. Paint and Varnish Exports

In March 2023, paint and varnish exports from the United States soared to 11K tons, jumping by 17% compared with the previous month's figure. Overall, exports, however, showed a relatively flat trend pattern.

In value terms, paint and varnish exports skyrocketed to $276M (IndexBox estimates) in March 2023. Over the period under review, exports continue to indicate a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

U.S. Paint and Varnish Exports by Country

Canada (5.2K tons), Mexico (3.1K tons) and China (250 tons) were the main destinations of paint and varnish exports from the United States, with a combined 79% share of total exports. Panama and Jamaica lagged somewhat behind, together accounting for a further 2.2%.

From March 2022 to March 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of +10.6%), while the other leaders experienced a decline.

In value terms, the largest markets for paint and varnish exported from the United States were Canada ($126M), Mexico ($75M) and China ($10M), together comprising 76% of total exports. These countries were followed by Panama and Jamaica, which together accounted for a further 1%.

Among the main countries of destination, Panama, with a CAGR of +5.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the paint and varnish market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 20301150 - Paints and varnishes, based on acrylic or vinyl polymers dispersed or dissolved in an aqueous medium (including enamels and lacquers)
  • Prodcom 20301170 - Other paints, varnishes dispersed or dissolved in an aqueous medium
  • Prodcom 20301225 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium, weight of the solvent > .50 % of the weight of the solution including enamels and lacquers
  • Prodcom 20301229 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium including enamels and lacquers excluding weight of the solvent > .50 % of the weight of the solution
  • Prodcom 20301230 - Paints and varnishes, based on acrylic or vinyl polymers dispersed/dissolved in non-aqueous medium, weight of the solvent > .50 % of the solution weight including enamels and lacquers
  • Prodcom 20301250 - Other paints and varnishes based on acrylic or vinyl polymers
  • Prodcom 20301270 - Paints and varnishes: solutions n.e.c.
  • Prodcom 20301290 - Other paints and varnishes based on synthetic polymers n.e.c.
  • Prodcom 20302213 - Oil paints and varnishes (including enamels and lacquers)
  • Prodcom 20302215 - Prepared water pigments for finishing leather, paints and varnishes (including enamels, lacquers and distempers) (excluding of oil)

Country coverage:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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