Canada: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Canada

The Canadian aqueous paint and varnish market amounted to $X in 2021, growing by 4.6% against the previous year. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.1% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; afterwards, it flattened through to 2021.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Canada

In value terms, aqueous paint and varnish production rose notably to $X in 2021 estimated in export price. In general, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.9% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 37%. Aqueous paint and varnish production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports from Canada

For the sixth year in a row, Canada recorded growth in shipments abroad of paints and varnishes dispersed or dissolved in an aqueous medium, which increased by 4.3% to X tons in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 13%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, aqueous paint and varnish exports soared to $X in 2021. In general, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 19%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for aqueous paint and varnish exports from Canada, with a 90% share of total exports. Moreover, aqueous paint and varnish exports to the United States exceeded the volume sent to the second major destination, China (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+16.5% per year) and Germany (-8.3% per year).

In value terms, the United States ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from Canada, comprising 90% of total exports. The second position in the ranking was held by China ($X), with a 3.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+21.7% per year) and Germany (+0.3% per year).

Export Prices by Country

In 2021, the average aqueous paint and varnish export price amounted to $X per ton, growing by 14% against the previous year. In general, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aqueous paint and varnish export price decreased by -0.8% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 51% against the previous year. The export price peaked at $X per ton in 2019; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports into Canada

In 2021, the amount of paints and varnishes dispersed or dissolved in an aqueous medium imported into Canada expanded slightly to X tons, rising by 1.6% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 8%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, aqueous paint and varnish imports totaled $X in 2021. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 7.5% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, the United States (X tons) was the main supplier of aqueous paint and varnish to Canada, with a approx. 97% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +2.9%.

In value terms, the United States ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in an aqueous medium to Canada.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +3.3%.

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, rising by 5.8% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 7.6% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +0.3% per year.

Source: IndexBox Platform

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