Africa: Paint And Varnish Market 2024

Paint And Varnish Market Size in Africa

The African paint and varnish market totaled $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Paint And Varnish Production in Africa

In value terms, paint and varnish production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 17% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Paint And Varnish Exports

Exports in Africa

In 2022, overseas shipments of paints and varnishes decreased by -3.9% to X tons, falling for the third year in a row after three years of growth. Over the period under review, exports saw a mild descent. The pace of growth appeared the most rapid in 2018 when exports increased by 15% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, paint and varnish exports declined slightly to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 10%. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

In 2022, South Africa (X tons) represented the main exporter of paints and varnishes, creating 45% of total exports. Egypt (X tons) held the second position in the ranking, distantly followed by Tunisia (X tons) and Morocco (X tons). All these countries together held approx. 37% share of total exports. Kenya (X tons), Burkina Faso (X tons) and Ghana (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Ghana (with a CAGR of +9.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest paint and varnish supplying countries in Africa were Egypt ($X), South Africa ($X) and Morocco ($X), with a combined 87% share of total exports. Tunisia, Kenya, Ghana and Burkina Faso lagged somewhat behind, together comprising a further 7.5%.

Burkina Faso, with a CAGR of +8.1%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the export price in Africa amounted to $X per ton, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2020 an increase of 36% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+7.7%), while the other leaders experienced more modest paces of growth.

Paint And Varnish Imports

Imports in Africa

In 2022, imports of paints and varnishes in Africa amounted to X tons, approximately equating the year before. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when imports increased by 17%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, paint and varnish imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 17%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Senegal (X tons), followed by Algeria (X tons), Morocco (X tons), Burkina Faso (X tons), South Africa (X tons) and Nigeria (X tons) were the major importers of paints and varnishes, together generating 43% of total imports. The following importers - Ghana (X tons), Libya (X tons), Egypt (X tons), Angola (X tons), Namibia (X tons), Botswana (X tons) and Liberia (X tons) - together made up 23% of total imports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +33.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), South Africa ($X) and Algeria ($X) were the countries with the highest levels of imports in 2022, with a combined 32% share of total imports. Egypt, Libya, Nigeria, Ghana, Angola, Liberia, Senegal, Namibia, Botswana and Burkina Faso lagged somewhat behind, together comprising a further 35%.

Among the main importing countries, Senegal, with a CAGR of +17.2%, saw the highest growth rate of the value of imports, 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 2022, surging by 4.8% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 5.7%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, 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 2022, the most notable rate of growth in terms of prices was attained by Libya (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :