Asia: 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

The Asian market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X in 2022, standing approx. at the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

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

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium declined to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 13%. As a result, production attained 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

Exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium contracted slightly to X tons in 2022, shrinking by -3.5% on the previous year's figure. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 13%. As a result, the exports attained the peak of X tons, and then contracted in the following year.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium reduced to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 14% against the previous year. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

Turkey was the major exporter of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in Asia, with the volume of exports amounting to X tons, which was approx. 28% of total exports in 2022. China (X tons) took the second position in the ranking, followed by Singapore (X tons), South Korea (X tons), Thailand (X tons), Saudi Arabia (X tons) and Japan (X tons). All these countries together held approx. 47% share of total exports. The United Arab Emirates (X tons), Malaysia (X tons), Kazakhstan (X tons), Taiwan (Chinese) (X tons) and India (X tons) held a relatively small share of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium. At the same time, Taiwan (Chinese) (+28.0%), India (+13.5%), Kazakhstan (+13.2%), Thailand (+10.9%), China (+4.6%), South Korea (+2.6%) and Singapore (+2.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of +28.0% from 2012-2022. Malaysia and the United Arab Emirates experienced a relatively flat trend pattern. By contrast, Japan (-2.4%) and Saudi Arabia (-3.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, China, Taiwan (Chinese) and Kazakhstan increased by +4.1, +2.9, +2.7 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium supplying countries in Asia were Turkey ($X), Japan ($X) and China ($X), with a combined 44% share of total exports. Singapore, Saudi Arabia, South Korea, Thailand, Malaysia, Taiwan (Chinese), the United Arab Emirates, India and Kazakhstan lagged somewhat behind, together comprising a further 49%.

Among the main exporting countries, Taiwan (Chinese), with a CAGR of +25.2%, 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 Asia stood at $X per ton in 2022, leveling off at the previous year. Overall, the export price showed a slight descent. The growth pace was the most rapid in 2014 an increase of 6.1%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.3%), 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

In 2022, approx. X tons of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium were imported in Asia; almost unchanged from 2021 figures. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 14% against the previous year. As a result, imports reached the peak of X tons, and then contracted slightly in the following year.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X in 2022. The total import value increased at an average annual rate of +4.4% 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 18%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X tons), distantly followed by Iraq (X tons), Hong Kong SAR (X tons), Vietnam (X tons), the United Arab Emirates (X tons) and Turkey (X tons) represented the major importers of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium, together committing 48% of total imports. Indonesia (X tons), Saudi Arabia (X tons), Kazakhstan (X tons), South Korea (X tons), Thailand (X tons), India (X tons) and Cambodia (X tons) held 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, Vietnam (+19.0%), Cambodia (+16.8%), India (+10.0%), Turkey (+6.1%), Thailand (+2.8%), South Korea (+2.8%), Kazakhstan (+1.5%) and Indonesia (+1.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of +19.0% from 2012-2022. Hong Kong SAR and Iraq experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-3.3%) and Saudi Arabia (-3.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Vietnam and Cambodia increased by +9.4, +4 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in Asia, comprising 21% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.4% share of total imports. It was followed by Turkey, with a 6% share.

In China, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased 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: the United Arab Emirates (+1.5% per year) and Turkey (+5.3% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the import price increased by 4%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a 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 South Korea ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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