Bahrain: 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 Bahrain

The Bahraini market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium soared to $X in 2022, picking up by 19% against the previous year. In general, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked in 2022 and is likely to see steady growth in the near future.

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

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium totaled $X in 2022 estimated in export price. In general, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.9% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 82% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production of growth failed to regain momentum.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports from Bahrain

In 2022, shipments abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium decreased by -52% to X tons, falling for the fourth year in a row after seven years of growth. Over the period under review, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 204% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium declined rapidly to $X in 2022. In general, exports, however, recorded a measured expansion. The most prominent rate of growth was recorded in 2014 with an increase of 271%. Over the period under review, the exports of hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Bahrain, accounting for a 74% share of total exports. Moreover, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X tons), threefold. Iraq (X tons) ranked third in terms of total exports with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-3.1% per year) and Iraq (-8.1% per year).

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Iraq ($X) constituted the largest markets for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exported from Bahrain worldwide, together comprising 86% of total exports.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +41.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, with an increase of 34% against the previous year. In general, the export price, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2014 when the average export price increased by 65% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+25.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports into Bahrain

In 2022, after three years of decline, there was significant growth in purchases abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium, when their volume increased by 85% to X tons. Overall, imports showed a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of 107%. Over the period under review, imports of attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium skyrocketed to $X in 2022. Over the period under review, imports saw a noticeable increase. The most prominent rate of growth was recorded in 2014 with an increase of 85% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Oman (X tons) were the main suppliers of imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Bahrain, with a combined 88% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +46.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium suppliers to Bahrain were Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X), with a combined 83% share of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +44.1%, 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

In 2022, the average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, declining by -2.2% against the previous year. Over the period under review, the import price saw a slight decline. The most prominent rate of growth was recorded in 2015 an increase of 37% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Oman ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+10.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform