Argentina: Paint And Varnish Market 2024

Paint And Varnish Market Size in Argentina

For the third consecutive year, the Argentinian paint and varnish market recorded growth in sales value, which increased by 18% to $X in 2022. Overall, consumption enjoyed a buoyant increase. Paint and varnish consumption peaked in 2022 and is likely to continue growth in the near future.

Paint And Varnish Exports

Exports from Argentina

In 2022, overseas shipments of paints and varnishes were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, continue to indicate a perceptible descent. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, paint and varnish exports soared to $X in 2022. Overall, exports, however, showed a perceptible shrinkage. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Uruguay (X tons) was the main destination for paint and varnish exports from Argentina, with a 58% share of total exports. Moreover, paint and varnish exports to Uruguay exceeded the volume sent to the second major destination, Chile (X tons), threefold. Paraguay (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Uruguay totaled +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-9.4% per year) and Paraguay (-1.6% per year).

In value terms, Uruguay ($X) remains the key foreign market for paints and varnishes exports from Argentina, comprising 48% of total exports. The second position in the ranking was taken by Chile ($X), with a 24% share of total exports. It was followed by Paraguay, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Uruguay stood at +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-6.0% per year) and Paraguay (-0.9% per year).

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2022, picking up by 11% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 21% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Argentina

In 2022, purchases abroad of paints and varnishes increased by 8.8% to X tons, rising for the third year in a row after two years of decline. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, paint and varnish imports surged to $X in 2022. Overall, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +111.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 64%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Brazil (X tons) constituted the largest paint and varnish supplier to Argentina, accounting for a 66% share of total imports. Moreover, paint and varnish imports from Brazil exceeded the figures recorded by the second-largest supplier, the United States (X tons), ninefold. The third position in this ranking was held by Germany (X tons), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.4% per year) and Germany (+1.8% per year).

In value terms, Brazil ($X) constituted the largest supplier of paints and varnishes to Argentina, comprising 65% of total imports. The second position in the ranking was held by the United States ($X), with an 8.4% share of total imports. It was followed by Germany, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.3% per year) and Germany (+2.1% per year).

Import Prices by Country

The average paint and varnish import price stood at $X per ton in 2022, picking up by 13% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 15%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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