Central Asia: 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 Central Asia

The Central Asian aqueous paint and varnish market totaled $X in 2021, with an increase of 4% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% 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 increased by +55.6% against 2014 indices. The level of consumption peaked in 2021 and is likely to continue growth in years to come.

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

In value terms, aqueous paint and varnish production fell modestly to $X in 2021 estimated in export price. The total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +61.8% against 2012 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2020, and then dropped modestly in the following year.

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

Exports in Central Asia

In 2021, shipments abroad of paints and varnishes dispersed or dissolved in an aqueous medium decreased by -37.4% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2016 when exports increased by 86% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, aqueous paint and varnish exports expanded markedly to $X in 2021. Over the period under review, exports, however, recorded a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 59%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Kazakhstan prevails in exports structure, recording X tons, which was approx. 90% of total exports in 2021. It was distantly followed by Uzbekistan (X tons), making up a 7.4% share of total exports.

Kazakhstan was also the fastest-growing in terms of the paints and varnishes dispersed or dissolved in an aqueous medium exports, with a CAGR of +8.3% from 2012 to 2021. Uzbekistan (-26.8%) illustrated a downward trend over the same period. Uzbekistan (+7.4 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -8.8% from 2012 to 2021, respectively.

In value terms, Kazakhstan ($X) remains the largest aqueous paint and varnish supplier in Central Asia, comprising 79% of total exports. The second position in the ranking was held by Uzbekistan ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan stood at +11.4%.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, growing by 83% against the previous year. Overall, the export price recorded moderate growth. As a result, the export 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 exporting countries. In 2021, the country with the highest price was Uzbekistan ($X per ton), while Kazakhstan amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+84.9%).

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

Imports in Central Asia

In 2021, approx. X tons of paints and varnishes dispersed or dissolved in an aqueous medium were imported in Central Asia; with an increase of 40% compared with the previous year. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Kazakhstan represented the major importer of paints and varnishes dispersed or dissolved in an aqueous medium in Central Asia, with the volume of imports amounting to X tons, which was near 37% of total imports in 2021. It was distantly followed by Mongolia (X tons), Kyrgyzstan (X tons), Turkmenistan (X tons), Tajikistan (X tons) and Uzbekistan (X tons), together constituting a 63% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to aqueous paint and varnish imports into Kazakhstan stood at +2.9%. At the same time, Mongolia (+7.6%), Tajikistan (+7.5%) and Kyrgyzstan (+4.0%) displayed positive paces of growth. Moreover, Mongolia emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +7.6% from 2012-2021. By contrast, Uzbekistan (-3.7%) and Turkmenistan (-5.1%) illustrated a downward trend over the same period. Mongolia (+5.2 p.p.), Uzbekistan (+4.7 p.p.) and Tajikistan (+4.3 p.p.) significantly strengthened its position in terms of the total imports, while Turkmenistan saw its share reduced by -15.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) constitutes the largest market for imported paints and varnishes dispersed or dissolved in an aqueous medium in Central Asia, comprising 45% of total imports. The second position in the ranking was held by Turkmenistan ($X), with a 13% share of total imports. It was followed by Mongolia, with a 13% share.

In Kazakhstan, aqueous paint and varnish imports expanded at an average annual rate of +2.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Turkmenistan (-11.7% per year) and Mongolia (+2.4% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2021, surging by 7.2% against the previous year. Overall, the import price, however, continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2020 when the import price increased by 8.1% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Uzbekistan ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+5.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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