ASEAN: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in ASEAN

The ASEAN non-aqueous paint and varnish market reduced modestly to $X in 2022, shrinking by -2.7% against the previous year. Over the period under review, consumption saw a slight setback. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in ASEAN

In value terms, non-aqueous paint and varnish production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production saw a perceptible contraction. The pace of growth appeared the most rapid in 2021 with an increase of 9.7%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports in ASEAN

In 2022, shipments abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by -3.3% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2013 with an increase of 7.4%. The volume of export peaked at X tons in 2021, and then dropped slightly in the following year.

In value terms, non-aqueous paint and varnish exports reached $X in 2022. The total export value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 14%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Malaysia represented the key exporter of paints and varnishes dispersed or dissolved in a non-aqueous medium in ASEAN, with the volume of exports reaching X tons, which was approx. 41% of total exports in 2022. Thailand (X tons) took a 25% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (15%), Indonesia (12%) and Vietnam (6.9%).

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +17.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Singapore ($X) and Thailand ($X) were the countries with the highest levels of exports in 2022, with a combined 82% share of total exports. Indonesia and Vietnam lagged somewhat behind, together accounting for a further 17%.

Among the main exporting countries, Vietnam, with a CAGR of +15.0%, saw the highest growth rate of 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

The export price in ASEAN stood at $X per ton in 2022, rising by 4.3% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.5%), while the other leaders experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports in ASEAN

In 2022, after six years of growth, there was decline in supplies from abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium, when their volume decreased by -2.6% to X tons. The total import volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 10% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then dropped slightly in the following year.

In value terms, non-aqueous paint and varnish imports rose to $X in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 17%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Vietnam (X tons), distantly followed by Singapore (X tons), Thailand (X tons), Indonesia (X tons), the Philippines (X tons) and Malaysia (X tons) represented the key importers of paints and varnishes dispersed or dissolved in a non-aqueous medium, together making up 92% of total imports. Cambodia (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cambodia (with a CAGR of +12.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 64% share of total imports. Indonesia, Malaysia, the Philippines and Cambodia lagged somewhat behind, together comprising a further 34%.

Cambodia, with a CAGR of +10.2%, saw the highest growth rate of the value of imports, in terms of 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

The import price in ASEAN stood at $X per ton in 2022, rising by 4.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 9%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform