
Asia - Paints and Varnishes - Market Analysis, Forecast, Size, Trends and Insights
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View PricingAsia: Paint And Varnish Market 2025
Paint And Varnish Market Size in Asia
The Asian paint and varnish market dropped to $X in 2022, waning by -1.7% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. 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.
Paint And Varnish Production in Asia
In value terms, paint and varnish production declined slightly to $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 20% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.
Paint And Varnish Exports
Exports in Asia
In 2022, paint and varnish exports in Asia contracted to X tons, dropping by -7.8% compared with 2021 figures. Overall, exports, however, continue to indicate a slight expansion. The most prominent rate of growth was recorded in 2017 with an increase of 8.8%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.
In value terms, paint and varnish exports fell to $X in 2022. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 11% against the previous year. As a result, the exports attained the peak of $X, and then reduced in the following year.
Exports by Country
In 2022, China (X tons), distantly followed by Turkey (X tons), Japan (X tons), South Korea (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons), Thailand (X tons) and Singapore (X tons) represented the main exporters of paints and varnishes, together constituting 82% of total exports. The following exporters - India (X tons) and Oman (X tons) - each recorded a 4.7% share of total exports.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by India (with a CAGR of +8.5%), while the other leaders experienced more modest paces of growth.
In value terms, Japan ($X) remains the largest paint and varnish supplier in Asia, comprising 35% of total exports. The second position in the ranking was held 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. The remaining exporting countries recorded the following average annual rates of exports growth: China (+4.3% per year) and South Korea (+1.9% per year).
Export Prices by Country
The export price in Asia stood at $X per ton in 2022, growing by 3.9% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 5.6% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the near future.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Oman ($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 (+3.3%), while the other leaders experienced more modest paces of growth.
Paint And Varnish Imports
Imports in Asia
In 2022, imports of paints and varnishes in Asia declined to X tons, which is down by -12.8% against the year before. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 9.2% against the previous year. As a result, imports attained the peak of X tons, and then fell in the following year.
In value terms, paint and varnish imports reduced slightly to $X in 2022. The total import value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 18% against the previous year. As a result, imports attained the peak of $X, and then reduced slightly in the following year.
Imports by Country
China (X tons) and Turkey (X tons) represented roughly 24% of total imports in 2022. India (X tons) held a 5.8% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (4.9%) and Singapore (4.7%). Vietnam (X tons), South Korea (X tons), Kazakhstan (X tons), Saudi Arabia (X tons), Indonesia (X tons), the United Arab Emirates (X tons), Iraq (X tons) and Hong Kong SAR (X tons) took a minor share of total imports.
From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +8.3%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, China ($X) constitutes the largest market for imported paints and varnishes in Asia, comprising 22% of total imports. The second position in the ranking was taken by South Korea ($X), with a 9.1% share of total imports. It was followed by Turkey, with an 8.8% share.
In China, paint and varnish imports expanded at an average annual rate of +5.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+0.3% per year) and Turkey (+5.4% per year).
Import Prices by Country
In 2022, the import price in Asia amounted to $X per ton, surging by 13% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($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 Indonesia (+5.2%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
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This report provides an in-depth analysis of the paint and varnish market in Asia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20301150 - Paints and varnishes, based on acrylic or vinyl polymers dispersed or dissolved in an aqueous medium (including enamels and lacquers)
- Prodcom 20301170 - Other paints, varnishes dispersed or dissolved in an aqueous medium
- Prodcom 20301225 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium, weight of the solvent > .50 % of the weight of the solution including enamels and lacquers
- Prodcom 20301229 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium including enamels and lacquers excluding weight of the solvent > .50 % of the weight of the solution
- Prodcom 20301230 - Paints and varnishes, based on acrylic or vinyl polymers dispersed/dissolved in non-aqueous medium, weight of the solvent > .50 % of the solution weight including enamels and lacquers
- Prodcom 20301250 - Other paints and varnishes based on acrylic or vinyl polymers
- Prodcom 20301270 - Paints and varnishes: solutions n.e.c.
- Prodcom 20301290 - Other paints and varnishes based on synthetic polymers n.e.c.
- Prodcom 20302213 - Oil paints and varnishes (including enamels and lacquers)
- Prodcom 20302215 - Prepared water pigments for finishing leather, paints and varnishes (including enamels, lacquers and distempers) (excluding of oil)
Country coverage:
- Afghanistan
- Armenia
- Azerbaijan
- Bahrain
- Bangladesh
- Bhutan
- Brunei Darussalam
- Cambodia
- China
- Hong Kong SAR
- Macao SAR
- Cyprus
- Georgia
- India
- Indonesia
- Iran
- Iraq
- Israel
- Japan
- Jordan
- Kazakhstan
- Kuwait
- Kyrgyzstan
- Lebanon
- Malaysia
- Maldives
- Mongolia
- Myanmar
- Nepal
- Oman
- Pakistan
- Palestine
- Philippines
- Qatar
- Saudi Arabia
- Singapore
- South Korea
- Sri Lanka
- Syrian Arab Republic
- Taiwan (Chinese)
- Tajikistan
- Thailand
- Timor-Leste
- Turkey
- Turkmenistan
- United Arab Emirates
- Uzbekistan
- Vietnam
- Yemen
- Lao People's Democratic Republic
- Democratic People's Republic of Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Asia, split by region and country
- Trade (exports and imports) in Asia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
-
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Afghanistan
- Armenia
- Azerbaijan
- Bahrain
- Bangladesh
- Bhutan
- Brunei Darussalam
- Cambodia
- China
- Hong Kong SAR
- Macao SAR
- Cyprus
- Georgia
- India
- Indonesia
- Iran
- Iraq
- Israel
- Japan
- Jordan
- Kazakhstan
- Kuwait
- Kyrgyzstan
- Lebanon
- Malaysia
- Maldives
- Mongolia
- Myanmar
- Nepal
- Oman
- Pakistan
- Palestine
- Philippines
- Qatar
- Saudi Arabia
- Singapore
- South Korea
- Sri Lanka
- Syrian Arab Republic
- Taiwan (Chinese)
- Tajikistan
- Thailand
- Timor-Leste
- Turkey
- Turkmenistan
- United Arab Emirates
- Uzbekistan
- Vietnam
- Yemen
- Lao People's Democratic Republic
- Democratic People's Republic of Korea
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption, by Country, 2022–2024
- Production, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Import Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Export Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Consumption, by Country, 2024
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, by Country, 2024
- Production, In Physical Terms, by Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Import Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Export Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
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