Africa: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Africa

The African aqueous paint and varnish market expanded to $X in 2021, rising by 3.2% against the previous year. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Africa

In value terms, aqueous paint and varnish production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2016 with an increase of 18% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports in Africa

In 2021, the amount of paints and varnishes dispersed or dissolved in an aqueous medium exported in Africa rose notably to X tons, surging by 6.2% against 2020 figures. The total export volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when exports increased by 16% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, aqueous paint and varnish exports surged to $X in 2021. The total export value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa represented the main exporter of paints and varnishes dispersed or dissolved in an aqueous medium in Africa, with the volume of exports finishing at X tons, which was near 52% of total exports in 2021. Kenya (X tons) ranks second in terms of the total exports with an 11% share, followed by Egypt (8.1%), Ghana (6.4%), Burkina Faso (5.6%) and Cote d'Ivoire (5.1%). Morocco (X tons) took a relatively small share of total exports.

Exports from South Africa increased at an average annual rate of +2.5% from 2012 to 2021. At the same time, Ghana (+45.4%), Kenya (+17.6%), Morocco (+15.0%) and Burkina Faso (+8.9%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Africa, with a CAGR of +45.4% from 2012-2021. By contrast, Egypt (-3.7%) and Cote d'Ivoire (-5.1%) illustrated a downward trend over the same period. Kenya (+7.8 p.p.), Ghana (+6.1 p.p.), South Africa (+4.1 p.p.), Morocco (+2.8 p.p.) and Burkina Faso (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire and Egypt saw its share reduced by -4.3% and -5% from 2012 to 2021, respectively.

In value terms, South Africa ($X) remains the largest aqueous paint and varnish supplier in Africa, comprising 54% of total exports. The second position in the ranking was held by Egypt ($X), with a 22% share of total exports. It was followed by Kenya, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa totaled +5.4%. In the other countries, the average annual rates were as follows: Egypt (+12.0% per year) and Kenya (+14.2% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, increasing by 19% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2020 when the export price increased by 19% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+16.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports in Africa

In 2021, approx. X tons of paints and varnishes dispersed or dissolved in an aqueous medium were imported in Africa; jumping by 18% compared with 2020. The total import volume increased at an average annual rate of +5.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish imports soared to $X in 2021. The total import value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Algeria (X tons), Ghana (X tons), Burkina Faso (X tons), Mozambique (X tons), South Africa (X tons), Namibia (X tons), Morocco (X tons), Libya (X tons), Democratic Republic of the Congo (X tons), Tanzania (X tons), Equatorial Guinea (X tons) and Senegal (X tons) represented roughly 61% of total imports in 2021. Nigeria (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Democratic Republic of the Congo (with a CAGR of +22.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Morocco ($X) and Algeria ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 32% of total imports. These countries were followed by Libya, Namibia, Ghana, Mozambique, Nigeria, Senegal, Democratic Republic of the Congo, Tanzania, Equatorial Guinea and Burkina Faso, which together accounted for a further 32%.

Democratic Republic of the Congo, with a CAGR of +14.7%, recorded the highest rates of growth with regard to the value of imports, among 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 12% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 Libya (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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