Angola: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Angola

The Angolan market for oil and water paints and varnishes was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, faced a dramatic downturn. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Exports of Oil And Water Paints And Varnishes

Exports from Angola

In 2021, the amount of oil and water paints and varnishes exported from Angola surged to X tons, growing by 53% compared with the year before. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,111%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, exports of oil and water paints and varnishes skyrocketed to $X in 2021. In general, exports enjoyed buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 1,333%. Over the period under review, the exports of reached the peak figure at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for exports of oil and water paints and varnishes from Angola, with a 75% share of total exports. Moreover, exports of oil and water paints and varnishes to Democratic Republic of the Congo exceeded the volume sent to the second major destination, France (X kg), sixfold. The third position in this ranking was taken by Congo (X kg), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Democratic Republic of the Congo stood at +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (0.0% per year) and Congo (0.0% per year).

In value terms, Democratic Republic of the Congo ($X) remains the key foreign market for oil and water paints and varnishes exports from Angola, comprising 77% of total exports. The second position in the ranking was taken by France ($X), with an 8.8% share of total exports. It was followed by Congo, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Democratic Republic of the Congo stood at +15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (0.0% per year) and Congo (0.0% per year).

Export Prices by Country

In 2021, the average export price for oil and water paints and varnishes amounted to $X per ton, rising by 5.8% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when the average export price increased by 38%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Congo ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (-7.6%).

Imports of Oil And Water Paints And Varnishes

Imports into Angola

In 2021, the amount of oil and water paints and varnishes imported into Angola soared to X tons, growing by 33% against the previous year. In general, imports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 79%. Over the period under review, imports of hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, imports of oil and water paints and varnishes surged to $X in 2021. Overall, imports, however, saw a dramatic shrinkage. The pace of growth was the most pronounced in 2018 when imports increased by 122% against the previous year. Over the period under review, imports of attained the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Tunisia (X tons) constituted the largest oil and water paints and varnishes supplier to Angola, accounting for a 45% share of total imports. Moreover, imports of oil and water paints and varnishes from Tunisia exceeded the figures recorded by the second-largest supplier, Portugal (X tons), fourfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume from Tunisia stood at -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-20.9% per year) and the United Arab Emirates (-31.0% per year).

In value terms, the largest oil and water paints and varnishes suppliers to Angola were Tunisia ($X), Portugal ($X) and the UK ($X), together accounting for 41% of total imports. South Korea, Turkey, China, Belgium, the United Arab Emirates, the Philippines, India and Namibia lagged somewhat behind, together accounting for a further 16%.

South Korea, with a CAGR of +33.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for oil and water paints and varnishes stood at $X per ton in 2021, waning by -6.3% against the previous year. Over the period under review, the import price saw a deep downturn. The growth pace was the most rapid in 2018 when the average import price increased by 27%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Belgium ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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