Cameroon: Paint And Varnish Market 2024

Paint And Varnish Market Size in Cameroon

In 2022, the Cameroonian paint and varnish market decreased by -33.3% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption, however, recorded strong growth. Paint and varnish consumption peaked at $X in 2021, and then fell rapidly in the following year.

Paint And Varnish Exports

Exports from Cameroon

In 2022, the amount of paints and varnishes exported from Cameroon reduced to X tons, waning by -3.7% compared with 2021. In general, exports continue to indicate a deep setback. The growth pace was the most rapid in 2020 with an increase of 116%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, paint and varnish exports contracted to $X in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2020 when exports increased by 92%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Chad (X tons), Gabon (X tons) and Congo (X tons) were the main destinations of paint and varnish exports from Cameroon, together accounting for 74% of total exports. Central African Republic, Democratic Republic of the Congo and Equatorial Guinea lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Democratic Republic of the Congo (with a CAGR of -3.6%), while the other leaders experienced a decline.

In value terms, the largest markets for paint and varnish exported from Cameroon were Gabon ($X), Congo ($X) and Chad ($X), with a combined 86% share of total exports.

Among the main countries of destination, Gabon, with a CAGR of -1.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average paint and varnish export price amounted to $X per ton, waning by -3.8% against the previous year. In general, the export price showed a pronounced contraction. The pace of growth appeared the most rapid in 2021 an increase of 31%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Equatorial Guinea ($X per ton), while the average price for exports to Central African Republic ($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 Gabon (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.

Paint And Varnish Imports

Imports into Cameroon

In 2022, supplies from abroad of paints and varnishes decreased by -50.8% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2019 when imports increased by 116% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, paint and varnish imports fell remarkably to $X in 2022. Over the period under review, imports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 145% against the previous year. Imports peaked at $X in 2021, and then shrank sharply in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest paint and varnish supplier to Cameroon, accounting for a 28% share of total imports. Moreover, paint and varnish imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the UK (X tons), twofold. The third position in this ranking was taken by China (X tons), with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+51.3% per year) and China (+1.2% per year).

In value terms, the UK ($X), the United Arab Emirates ($X) and Italy ($X) were the largest paint and varnish suppliers to Cameroon, with a combined 38% share of total imports.

In terms of the main suppliers, the UK, with a CAGR of +50.0%, saw the highest growth rate of 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 paint and varnish import price amounted to $X per ton, picking up by 53% against the previous year. Overall, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.8% 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 +109.1% against 2016 indices. 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 origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform