Africa: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Africa

After two years of growth, the African market for oil and water paints and varnishes decreased by -2.8% to $X in 2021. In general, consumption, however, continues to indicate a mild setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Oil And Water Paints And Varnishes in Africa

In value terms, production of oil and water paints and varnishes contracted modestly to $X in 2021 estimated in export price. Overall, production, however, saw a mild downturn. The pace of growth was the most pronounced in 2019 with an increase of 22%. Over the period under review, production of reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Oil And Water Paints And Varnishes

Exports in Africa

In 2021, overseas shipments of oil and water paints and varnishes were finally on the rise to reach X tons after two years of decline. Overall, exports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 36% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of oil and water paints and varnishes fell to $X in 2021. In general, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2013 with an increase of 24% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Kenya (X tons) was the major exporter of oil and water paints and varnishes, comprising 56% of total exports. South Africa (X tons) held the second position in the ranking, followed by Uganda (X tons). All these countries together held approx. 20% share of total exports. Cote d'Ivoire (X tons), Mauritius (X tons), Tanzania (X tons), Egypt (X tons), Mali (X tons), Nigeria (X tons) and Rwanda (X tons) followed a long way behind the leaders.

Exports from Kenya increased at an average annual rate of +7.1% from 2012 to 2021. At the same time, Nigeria (+48.2%), Mali (+22.4%), Uganda (+15.7%), Rwanda (+8.3%) and Tanzania (+5.1%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of +48.2% from 2012-2021. By contrast, Mauritius (-5.6%), South Africa (-10.1%), Cote d'Ivoire (-11.7%) and Egypt (-25.9%) illustrated a downward trend over the same period. Kenya (+39 p.p.), Uganda (+8.1 p.p.), Tanzania (+1.9 p.p.), Mali (+1.7 p.p.) and Nigeria (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire, South Africa and Egypt saw its share reduced by -2.5%, -5.1% and -17.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest oil and water paints and varnishes supplying countries in Africa were Kenya ($X), South Africa ($X) and Mauritius ($X), together comprising 69% of total exports. These countries were followed by Uganda, Egypt, Cote d'Ivoire, Tanzania, Rwanda, Nigeria and Mali, which together accounted for a further 22%.

Nigeria, with a CAGR of +38.5%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, reducing by -15.5% against the previous year. Over the period under review, the export price showed a perceptible reduction. The growth pace was the most rapid in 2019 an increase of 29%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Mauritius ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+9.3%), while the other leaders experienced more modest paces of growth.

Imports of Oil And Water Paints And Varnishes

Imports in Africa

In 2021, overseas purchases of oil and water paints and varnishes were finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2013 with an increase of 27%. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of oil and water paints and varnishes reached $X in 2021. Overall, imports, however, showed a pronounced downturn. The pace of growth appeared the most rapid in 2013 with an increase of 16% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Democratic Republic of the Congo (X tons), Nigeria (X tons), Tanzania (X tons), Ghana (X tons) and Senegal (X tons) represented roughly 42% of total imports in 2021. The following importers - Cameroon (X tons), Burundi (X tons), Angola (X tons), Burkina Faso (X tons), Chad (X tons), Niger (X tons), South Africa (X tons) and Somalia (X tons) - together made up 26% of total imports.

From 2012 to 2021, the biggest increases were recorded for Chad (with a CAGR of +55.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Tanzania ($X) and Democratic Republic of the Congo ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 24% of total imports. Ghana, Senegal, Nigeria, Cameroon, Niger, Angola, Chad, Somalia, Burundi and Burkina Faso lagged somewhat behind, together comprising a further 29%.

Niger, with a CAGR of +49.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, surging by 4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 16% against the previous year. Over the period under review, import prices attained the peak figure in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was South Africa ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tanzania (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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