Australia: Paint And Varnish Market 2024

Paint And Varnish Market Size in Australia

The Australian paint and varnish market dropped rapidly to $X in 2022, with a decrease of -16.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.7% 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 +26.2% against 2020 indices. Paint and varnish consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Paint And Varnish Exports

Exports from Australia

In 2022, exports of paints and varnishes from Australia skyrocketed to X tons, increasing by 15% against the year before. The total export volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 19%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, paint and varnish exports expanded significantly to $X in 2022. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 19% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

New Zealand (X tons) was the main destination for paint and varnish exports from Australia, accounting for a 66% share of total exports. Moreover, paint and varnish exports to New Zealand exceeded the volume sent to the second major destination, Thailand (X tons), more than tenfold. Indonesia (X tons) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand amounted to +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+7.0% per year) and Indonesia (+11.5% per year).

In value terms, New Zealand ($X) remains the key foreign market for paints and varnishes exports from Australia, comprising 63% of total exports. The second position in the ranking was held by the United States ($X), with a 7.9% share of total exports. It was followed by Indonesia, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand totaled +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+5.7% per year) and Indonesia (+5.1% per year).

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2022, falling by -8.3% against the previous year. Over the period under review, the export price saw a noticeable setback. The pace of growth appeared the most rapid in 2018 an increase of 27%. Over the period under review, the average 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 destination: 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 (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Australia

In 2022, approx. X tons of paints and varnishes were imported into Australia; with a decrease of -3.7% against 2021. The total import volume increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of 22% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, paint and varnish imports rose modestly to $X in 2022. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 27% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Singapore (X tons) and the United States (X tons) were the main suppliers of paint and varnish imports to Australia, together comprising 39% of total imports. Malaysia, China, New Zealand, Italy, the Netherlands, the UK, Thailand, India, France and Indonesia lagged somewhat behind, together comprising a further 52%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +25.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest paint and varnish suppliers to Australia were Germany ($X), the United States ($X) and the Netherlands ($X), with a combined 43% share of total imports. Malaysia, New Zealand, the UK, Italy, China, Singapore, France, India, Indonesia and Thailand lagged somewhat behind, together accounting for a further 48%.

India, with a CAGR of +30.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average paint and varnish import price amounted to $X per ton, rising by 9% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, paint and varnish import price increased by +69.5% against 2015 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by 27% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 Netherlands ($X per ton), while the price for Singapore ($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 (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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