Angola: 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 Angola

In 2021, the Angolan aqueous paint and varnish market increased by 66% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, faced a abrupt slump. Aqueous paint and varnish consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

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

Exports from Angola

In 2021, overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium decreased by -11.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2016 when exports increased by 1,874%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, aqueous paint and varnish exports expanded significantly to $X in 2021. In general, exports, however, showed a prominent increase. The growth pace was the most rapid in 2016 with an increase of 925%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for aqueous paint and varnish exports from Angola, accounting for a 70% share of total exports. Moreover, aqueous paint and varnish exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, the United States (X kg), fourfold. The third position in this ranking was taken by Congo (X kg), with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume to Democratic Republic of the Congo totaled +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and Congo (0.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from Angola, comprising 51% of total exports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with a 25% share of total exports. It was followed by Sao Tome and Principe, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+14.7% per year) and Sao Tome and Principe (+55.7% per year).

Export Prices by Country

In 2021, the average aqueous paint and varnish export price amounted to $X per ton, rising by 24% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 60%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Democratic Republic of the Congo ($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 (-0.0%), while the prices for the other major destinations experienced a decline.

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

Imports into Angola

In 2021, purchases abroad of paints and varnishes dispersed or dissolved in an aqueous medium increased by 47% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2017 with an increase of 123%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, aqueous paint and varnish imports soared to $X in 2021. Overall, imports, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2017 when imports increased by 113%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of aqueous paint and varnish to Angola, accounting for a 33% share of total imports. Moreover, aqueous paint and varnish imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Tunisia (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled -24.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-14.1% per year) and Tunisia (+4.4% per year).

In value terms, the largest aqueous paint and varnish suppliers to Angola were Portugal ($X), the United Arab Emirates ($X) and China ($X), with a combined 27% share of total imports. Spain, South Africa, Belgium, Turkey, Egypt, Tunisia, Congo and Brazil lagged somewhat behind, together comprising a further 18%.

Among the main suppliers, Turkey, with a CAGR of +10.0%, recorded the highest rates of growth with regard to 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

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, rising by 16% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aqueous paint and varnish import price increased by +53.8% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 24%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while the price for Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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