Asia-Pacific: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Asia-Pacific

The Asia-Pacific aqueous paint and varnish market stood at $X in 2021, approximately equating the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

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

In value terms, aqueous paint and varnish production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 14%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports in Asia-Pacific

In 2021, shipments abroad of paints and varnishes dispersed or dissolved in an aqueous medium increased by 15% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish exports soared to $X in 2021. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons), distantly followed by Singapore (X tons), South Korea (X tons), Taiwan (Chinese) (X tons), Thailand (X tons), Malaysia (X tons) and Japan (X tons) were the major exporters of paints and varnishes dispersed or dissolved in an aqueous medium, together committing 86% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of +10.9%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 55% of total exports. These countries were followed by Singapore, Thailand, Taiwan (Chinese) and Malaysia, which together accounted for a further 32%.

Among the main exporting countries, Thailand, with a CAGR of +9.4%, 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 2021, rising by 4.5% against the previous year. In general, the export price, however, recorded a slight curtailment. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports in Asia-Pacific

In 2021, purchases abroad of paints and varnishes dispersed or dissolved in an aqueous medium was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish imports soared to $X in 2021. The total import value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons), distantly followed by Vietnam (X tons), Hong Kong SAR (X tons), Thailand (X tons), South Korea (X tons), India (X tons) and Singapore (X tons) represented the main importers of paints and varnishes dispersed or dissolved in an aqueous medium, together committing 62% of total imports. Cambodia (X tons), Indonesia (X tons), Malaysia (X tons), Australia (X tons), the Philippines (X tons) and New Zealand (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to aqueous paint and varnish imports into China stood at +6.5%. At the same time, Cambodia (+25.8%), New Zealand (+16.4%), Vietnam (+14.8%), South Korea (+9.0%), Malaysia (+7.0%), Australia (+6.4%), Thailand (+5.6%), India (+5.5%) and the Philippines (+2.9%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +25.8% from 2012-2021. Hong Kong SAR, Singapore and Indonesia experienced a relatively flat trend pattern. Vietnam (+4.7 p.p.) and Cambodia (+3.4 p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Indonesia and Hong Kong SAR saw its share reduced by -3.1%, -4% and -4.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported paints and varnishes dispersed or dissolved in an aqueous medium in Asia-Pacific, comprising 26% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 9.8% share of total imports. It was followed by South Korea, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +6.0%. In the other countries, the average annual rates were as follows: Vietnam (+12.8% per year) and South Korea (+4.5% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, with an increase of 3.3% against the previous year. In general, the import price, however, saw a slight curtailment. The pace of growth was the most pronounced in 2018 when the import price increased by 3.4%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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