Canada: 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 Canada

The Canadian non-aqueous paint and varnish market contracted to $X in 2022, reducing by -5.9% against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Non-aqueous paint and varnish consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Canada

In value terms, non-aqueous paint and varnish production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 21%. Non-aqueous paint and varnish production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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

Exports from Canada

In 2022, overseas shipments of paints and varnishes dispersed or dissolved in a non-aqueous medium increased by 7.2% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, saw a perceptible curtailment. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, non-aqueous paint and varnish exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X tons) was the main destination for non-aqueous paint and varnish exports from Canada, with a approx. 97% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest.

In value terms, the United States ($X) also remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Canada.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +4.8%.

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, growing by 9.7% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.0% 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 +31.6% against 2015 indices. The growth pace was the most rapid in 2015 an increase of 20%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Venezuela amounted to +7.4% per year.

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

Imports into Canada

In 2022, approx. X tons of paints and varnishes dispersed or dissolved in a non-aqueous medium were imported into Canada; which is down by -7.2% against 2021 figures. Overall, imports showed a pronounced reduction. The pace of growth was the most pronounced in 2021 with an increase of 8.3% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, non-aqueous paint and varnish imports rose markedly to $X in 2022. In general, imports, however, recorded mild growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) was the main supplier of non-aqueous paint and varnish to Canada, with a 92% share of total imports. It was followed by Italy (X tons), with a 1.6% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.7% per year) and Austria (+53.8% per year).

In value terms, the United States ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Canada, comprising 91% of total imports. The second position in the ranking was held by Italy ($X), with a 1.5% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+12.0% per year) and Austria (+51.8% per year).

Import Prices by Country

The average non-aqueous paint and varnish import price stood at $X per ton in 2022, picking up by 21% against the previous year. Over the last decade, it increased at an average annual rate of +3.9%. As a result, import price reached the peak level and is likely to continue 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 United States ($X per ton), while the price for Austria ($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 (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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