Angola: Paint And Varnish Market 2024

Paint And Varnish Market Size in Angola

The Angolan paint and varnish market fell slightly to $X in 2022, with a decrease of -3.9% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Paint and varnish consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Paint And Varnish Production in Angola

In value terms, paint and varnish production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.8% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 43%. Paint and varnish production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Paint And Varnish Exports

Exports from Angola

After two years of growth, shipments abroad of paints and varnishes decreased by -85.8% to X tons in 2022. Over the period under review, exports recorded a mild reduction. The growth pace was the most rapid in 2021 when exports increased by 294%. As a result, the exports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, paint and varnish exports contracted dramatically to $X in 2022. In general, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 1,060% against the previous year. As a result, the exports reached the peak of $X, and then declined remarkably in the following year.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for paint and varnish exports from Angola, with a 71% share of total exports. Moreover, paint and varnish exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Sao Tome and Principe (X tons), sevenfold. The third position in this ranking was taken by Canada (X tons), with an 8% share.

From 2015 to 2022, the average annual rate of growth in terms of volume to Democratic Republic of the Congo stood at +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sao Tome and Principe (+14.0% per year) and Canada (+47.0% per year).

In value terms, Namibia ($X), Democratic Republic of the Congo ($X) and Sao Tome and Principe ($X) constituted the largest markets for paint and varnish exported from Angola worldwide, with a combined 87% share of total exports.

Sao Tome and Principe, with a CAGR of +23.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2022, shrinking by -60.9% against the previous year. Over the period under review, the export price saw a deep slump. The pace of growth was the most pronounced in 2021 when the average export price increased by 195%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Namibia ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sao Tome and Principe (+8.1%), while the prices for the other major destinations experienced mixed trend patterns.

Paint And Varnish Imports

Imports into Angola

In 2022, supplies from abroad of paints and varnishes was finally on the rise to reach X tons after two years of decline. Overall, imports, however, continue to indicate a deep setback. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, paint and varnish imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a pronounced descent. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), Portugal (X tons) and China (X tons) were the main suppliers of paint and varnish imports to Angola, with a combined 59% share of total imports. The UK, Egypt, the Netherlands, South Africa, Jordan, the United States, Tunisia, Germany, Namibia and Brazil lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Jordan (with a CAGR of +73.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest paint and varnish suppliers to Angola were Portugal ($X), the UK ($X) and China ($X), together comprising 51% of total imports. South Africa, the United States, the Netherlands, Egypt, the United Arab Emirates, Jordan, Germany, Tunisia, Brazil and Namibia lagged somewhat behind, together comprising a further 32%.

Jordan, with a CAGR of +66.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average paint and varnish import price amounted to $X per ton, increasing by 15% against the previous year. Over the period under review, the import price recorded a buoyant expansion. The most prominent rate of growth was recorded in 2016 when the average import price increased by 62%. Over the period under review, average import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :