ASEAN: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2024

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in ASEAN

The ASEAN market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X in 2022, flattening at the previous year. Overall, consumption, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2020 with an increase of 6.8% against the previous year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in ASEAN

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium expanded to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2020 when the production volume increased by 7.5% against the previous year. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports in ASEAN

In 2022, overseas shipments of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by 3.1% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when exports increased by 14% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium expanded notably to $X in 2022. The total export value increased at an average annual rate of +3.1% 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 2021 with an increase of 22%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

Singapore (X tons) and Thailand (X tons) represented the main exporters of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in 2022, amounting to near 44% and 30% of total exports, respectively. Malaysia (X tons) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (5.2%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +11.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium supplying countries in ASEAN were Singapore ($X), Thailand ($X) and Malaysia ($X), together accounting for 90% of total exports. Vietnam and Indonesia lagged somewhat behind, together accounting for a further 8.7%.

In terms of the main exporting countries, Vietnam, with a CAGR of +16.8%, recorded the highest rates of growth with regard to the value of exports, 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 ASEAN amounted to $X per ton, picking up by 7% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 10%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Malaysia ($X per ton), while Indonesia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.0%), while the other leaders experienced more modest paces of growth.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports in ASEAN

In 2022, purchases abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by 1.2% to X tons, rising for the second consecutive year after three years of decline. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.4% 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 +8.5% against 2020 indices. The growth pace was the most rapid in 2017 when imports increased by 22%. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium rose slightly to $X in 2022. The total import value increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 17% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

In 2022, Vietnam (X tons) and Indonesia (X tons) represented the key importers of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in ASEAN, together making up 45% of total imports. Thailand (X tons) ranks next in terms of the total imports with a 12% share, followed by Cambodia (11%), Singapore (11%) and Malaysia (9%). The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +19.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 60% of total imports. Singapore, Malaysia, Cambodia and the Philippines lagged somewhat behind, together accounting for a further 33%.

Cambodia, with a CAGR of +17.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, increasing by 3.5% against the previous year. Overall, the import price, however, recorded a slight shrinkage. The pace of growth was the most pronounced in 2020 when the import price increased by 5.9%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform