Asia-Pacific: 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 Asia-Pacific

The Asia-Pacific market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X in 2022, approximately equating the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Asia-Pacific

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 15%. As a result, production reached the peak level of $X. From 2014 to 2022, production of growth remained at a somewhat lower figure.

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

Exports in Asia-Pacific

In 2022, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in Asia-Pacific fell slightly to X tons, shrinking by -3.7% on the previous year's figure. Total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +9.2% against 2020 indices. The pace of growth was the most pronounced in 2018 when exports increased by 17% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium declined modestly to $X in 2022. The total export value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 13% against the previous year. As a result, the exports attained the peak of $X, and then shrank modestly in the following year.

Exports by Country

The shipments of the four major exporters of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium, namely China, Singapore, South Korea and Thailand, represented more than half of total export. Japan (X tons) held the next position in the ranking, followed by Australia (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons). All these countries together took approx. 28% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +28.0%), while 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 Asia-Pacific were Japan ($X), China ($X) and Singapore ($X), with a combined 48% share of total exports. South Korea, Thailand, Australia, Malaysia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 40%.

Among the main exporting countries, Taiwan (Chinese), with a CAGR of +25.2%, saw 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

The export price in Asia-Pacific stood at $X per ton in 2022, stabilizing at the previous year. In general, the export price showed a noticeable decline. The most prominent rate of growth was recorded in 2020 when the export price increased by 2.5%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.8%), 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 Asia-Pacific

After two years of growth, purchases abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium decreased by -2.6% to X tons in 2022. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.9% 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 +14.1% against 2019 indices. The pace of growth was the most pronounced in 2017 when imports increased by 23%. Over the period under review, imports of hit record highs at X tons in 2021, and then fell modestly in the following year.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium reduced slightly to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +20.3% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 19%. The level of import peaked at $X in 2021, and then contracted slightly in the following year.

Imports by Country

China represented the key importer of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in Asia-Pacific, with the volume of imports recording X tons, which was near 29% of total imports in 2022. It was distantly followed by Hong Kong SAR (X tons), Vietnam (X tons), Indonesia (X tons) and South Korea (X tons), together achieving a 30% share of total imports. Thailand (X tons), India (X tons), Cambodia (X tons), Singapore (X tons), New Zealand (X tons), Afghanistan (X tons), Malaysia (X tons) and Australia (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to paints and varnishes, based on acrylic or vinyl polymers, aqueous medium imports into China stood at +11.6%. At the same time, New Zealand (+19.1%), Vietnam (+19.0%), Cambodia (+16.8%), India (+10.0%), Afghanistan (+7.9%), Australia (+6.0%), Singapore (+4.4%), Thailand (+2.8%), South Korea (+2.8%), Indonesia (+1.4%) and Malaysia (+1.3%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +19.1% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. China (+10 p.p.), Vietnam (+5.6 p.p.), New Zealand (+2.1 p.p.) and Cambodia (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Thailand, Malaysia, South Korea, Indonesia and Hong Kong SAR saw its share reduced by -2%, -2.2%, -2.2%, -4.5% and -8.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in Asia-Pacific, comprising 29% of total imports. The second position in the ranking was held by Vietnam ($X), with an 8% share of total imports. It was followed by South Korea, with a 7.4% share.

In China, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium expanded at an average annual rate of +11.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+15.1% per year) and South Korea (+5.6% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, rising by 2.1% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 4.9% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Australia ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :