Bolivia: Paint And Varnish Market 2024

Paint And Varnish Market Size in Bolivia

The Bolivian paint and varnish market rose markedly to $X in 2022, increasing by 5.5% 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). The market value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Paint and varnish consumption peaked in 2022 and is likely to see gradual growth in years to come.

Paint And Varnish Exports

Exports from Bolivia

In 2022, shipments abroad of paints and varnishes decreased by -93.2% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 5,072% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, paint and varnish exports fell rapidly to $X in 2022. Overall, exports recorded a slight decrease. The most prominent rate of growth was recorded in 2019 with an increase of 3,883%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Chile (X kg), Peru (X kg) and Argentina (X kg) were the main destinations of paint and varnish exports from Bolivia, with a combined 97% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of +29.8%), while the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Argentina ($X) and Peru ($X) constituted the largest markets for paint and varnish exported from Bolivia worldwide, together accounting for 99% of total exports.

Peru, with a CAGR of +120.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2022, which is down by -49.5% against the previous year. Overall, the export price, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2020 an increase of 263%. The export price peaked at $X per ton in 2021, and then dropped dramatically in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Belize ($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 Peru (+69.9%), while the prices for the other major destinations experienced mixed trend patterns.

Paint And Varnish Imports

Imports into Bolivia

In 2022, the amount of paints and varnishes imported into Bolivia rose modestly to X tons, growing by 2.6% on 2021. Overall, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +3.8% 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 +56.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 52%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, paint and varnish imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 43%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of paint and varnish to Bolivia, accounting for a 73% share of total imports. Moreover, paint and varnish imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. Argentina (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil totaled +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.6% per year) and Argentina (-13.4% per year).

In value terms, Brazil ($X) constituted the largest supplier of paints and varnishes to Bolivia, comprising 65% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Argentina, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value from Brazil amounted to +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.4% per year) and Argentina (-11.4% per year).

Import Prices by Country

In 2022, the average paint and varnish import price amounted to $X per ton, rising by 2.9% against the previous year. Over the period under review, the import price, however, showed a noticeable slump. The growth pace was the most rapid in 2018 when the average import price increased by 5%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform