Australia: 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 Australia

For the third consecutive year, the Australian non-aqueous paint and varnish market recorded growth in sales value, which increased by 13% to $X in 2022. Over the period under review, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +109.3% against 2019 indices. Non-aqueous paint and varnish consumption peaked in 2022 and is likely to see steady growth in years to come.

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

Exports from Australia

In 2022, non-aqueous paint and varnish exports from Australia contracted remarkably to X tons, with a decrease of -16.5% on 2021. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 26%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, non-aqueous paint and varnish exports declined to $X in 2022. The total export value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 17% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped modestly in the following year.

Exports by Country

New Zealand (X tons) was the main destination for non-aqueous paint and varnish exports from Australia, with a 70% share of total exports. Moreover, non-aqueous paint and varnish exports to New Zealand exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold. Indonesia (X tons) ranked third in terms of total exports with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+21.0% per year) and Indonesia (+7.3% per year).

In value terms, New Zealand ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Australia, comprising 62% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports. It was followed by Indonesia, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+20.6% per year) and Indonesia (+6.5% per year).

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, increasing by 18% against the previous year. Overall, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-aqueous paint and varnish export price increased by +22.1% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 28% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Australia

In 2022, approx. X tons of paints and varnishes dispersed or dissolved in a non-aqueous medium were imported into Australia; with a decrease of -5.6% against 2021 figures. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 20% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, non-aqueous paint and varnish imports amounted to $X in 2022. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Malaysia (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of non-aqueous paint and varnish imports to Australia, with a combined 40% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +25.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Malaysia ($X) appeared to be the largest non-aqueous paint and varnish suppliers to Australia, together comprising 42% of total imports. The Netherlands, New Zealand, China, the UK, Italy, France, India, Indonesia, Thailand and Singapore lagged somewhat behind, together comprising a further 50%.

Among the main suppliers, India, with a CAGR of +30.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-aqueous paint and varnish import price stood at $X per ton in 2022, growing by 10% against the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-aqueous paint and varnish import price increased by +83.9% against 2015 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 26% against the previous year. Over the period under review, average 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 supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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