Asia: 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

The Asian non-aqueous paint and varnish market contracted to $X in 2022, waning by -2.2% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. 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 Asia

In value terms, non-aqueous paint and varnish production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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

Exports in Asia

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium exported in Asia reduced slightly to X tons, dropping by -2.6% compared with the year before. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 9.7% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then fell in the following year.

In value terms, non-aqueous paint and varnish exports contracted slightly to $X in 2022. The total export value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 9.8%. As a result, the exports reached the peak of $X, and then shrank modestly in the following year.

Exports by Country

China (X tons), Japan (X tons), South Korea (X tons), Turkey (X tons), Malaysia (X tons) and the United Arab Emirates (X tons) represented roughly 73% of total exports in 2022. It was distantly followed by Thailand (X tons), mixing up a 5.8% share of total exports. Taiwan (Chinese) (X tons), Singapore (X tons), Indonesia (X tons), India (X tons) and Vietnam (X tons) followed a long way behind the leaders.

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, Japan ($X) remains the largest non-aqueous paint and varnish supplier in Asia, comprising 38% of total exports. The second position in the ranking was taken by China ($X), with a 15% share of total exports. It was followed by South Korea, with a 13% 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

The export price in Asia stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 6.5% against the previous year. 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 remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the United Arab Emirates ($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

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium imported in Asia shrank slightly to X tons, with a decrease of -4.1% compared with 2021. The total import volume increased at an average annual rate of +3.0% over the period 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 2014 with an increase of 9.4%. The volume of import peaked at X tons in 2021, and then declined slightly in the following year.

In value terms, non-aqueous paint and varnish imports fell modestly to $X in 2022. The total import value increased at an average annual rate of +3.6% 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 2021 with an increase of 17% against the previous year. As a result, imports attained the peak of $X, and then dropped modestly in the following year.

Imports by Country

In 2022, China (X tons), Turkey (X tons), Vietnam (X tons), India (X tons), Singapore (X tons), Thailand (X tons), Kazakhstan (X tons), Indonesia (X tons), South Korea (X tons), the United Arab Emirates (X tons), Saudi Arabia (X tons) and the Philippines (X tons) was the main importer of paints and varnishes dispersed or dissolved in a non-aqueous medium in Asia, generating 66% of total import. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +11.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported paints and varnishes dispersed or dissolved in a non-aqueous medium in Asia, comprising 22% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by Turkey, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +5.9%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+0.3% per year) and Turkey (+6.0% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, increasing by 3.1% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 9.8%. Over the period under review, import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

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 ($X per ton), while Kuwait ($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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