Asia-Pacific: 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 Asia-Pacific

The Asia-Pacific non-aqueous paint and varnish market fell to $X in 2022, leveling off at the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

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

In value terms, non-aqueous paint and varnish production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 13% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

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

Exports in Asia-Pacific

In 2022, non-aqueous paint and varnish exports in Asia-Pacific shrank modestly to X tons, with a decrease of -4.7% against 2021 figures. The total export volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 9.9%. The volume of export peaked at X tons in 2021, and then fell in the following year.

In value terms, non-aqueous paint and varnish exports reduced slightly to $X in 2022. The total export value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 9.9%. The level of export peaked at $X in 2021, and then fell slightly in the following year.

Exports by Country

The shipments of the four major exporters of paints and varnishes dispersed or dissolved in a non-aqueous medium, namely China, Japan, South Korea and Malaysia, represented more than two-thirds of total export. Thailand (X tons) took a 7.4% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (5.7%). Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of +5.8%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the largest non-aqueous paint and varnish supplier in Asia-Pacific, comprising 43% of total exports. The second position in the ranking was taken by China ($X), with a 16% share of total exports. It was followed by South Korea, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: China (+4.5% per year) and South Korea (+2.0% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, approximately mirroring the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 5.7% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; afterwards, it flattened through to 2022.

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 Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.9%), 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 Asia-Pacific

Non-aqueous paint and varnish imports reduced to X tons in 2022, with a decrease of -7.4% compared with 2021 figures. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 11% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, non-aqueous paint and varnish imports dropped slightly to $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 19% against the previous year. As a result, imports reached the peak of $X, and then shrank slightly in the following year.

Imports by Country

In 2022, China (X tons), followed by Vietnam (X tons), India (X tons), Singapore (X tons), Thailand (X tons), Indonesia (X tons) and South Korea (X tons) represented the key importers of paints and varnishes dispersed or dissolved in a non-aqueous medium, together mixing up 66% of total imports. The Philippines (X tons), Australia (X tons), Malaysia (X tons), Japan (X tons), Taiwan (Chinese) (X tons) and Bangladesh (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bangladesh (with a CAGR of +18.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported paints and varnishes dispersed or dissolved in a non-aqueous medium in Asia-Pacific, comprising 28% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by India, with a 7.1% share.

In China, non-aqueous paint and varnish imports increased at an average annual rate of +5.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+0.3% per year) and India (+8.2% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, rising by 4% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2018 an increase of 9.5%. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady growth in the near future.

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 South Korea ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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