China: 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 China

The Chinese non-aqueous paint and varnish market declined to $X in 2022, remaining stable against the previous year. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

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

In value terms, non-aqueous paint and varnish production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 20%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

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

Exports from China

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium exported from China expanded rapidly to X tons, surging by 5.5% compared with the previous year's figure. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 33% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat 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 +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by 22%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Vietnam (X tons), Panama (X tons) and Liberia (X tons) were the main destinations of non-aqueous paint and varnish exports from China, together comprising 24% of total exports. India, Marshall Islands, Russia, Singapore, Indonesia, Pakistan, Bangladesh, Malaysia, Japan and Mexico lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +34.1%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Panama ($X) and Liberia ($X) appeared to be the largest markets for non-aqueous paint and varnish exported from China worldwide, with a combined 26% share of total exports. Russia, Singapore, Marshall Islands, Japan, Indonesia, India, Malaysia, Mexico, Bangladesh and Pakistan lagged somewhat behind, together comprising a further 32%.

Mexico, with a CAGR of +46.2%, 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

In 2022, the average non-aqueous paint and varnish export price amounted to $X per ton, increasing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2016 when the average export price increased by 14% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Pakistan ($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 Mexico (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into China

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium imported into China shrank to X tons, with a decrease of -13.7% against 2021 figures. In general, imports recorded a mild reduction. The most prominent rate of growth was recorded in 2021 with an increase of 13%. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, non-aqueous paint and varnish imports shrank to $X in 2022. Over the period under review, imports, however, saw a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of 25% against the previous year. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

South Korea (X tons), Japan (X tons) and Malaysia (X tons) were the main suppliers of non-aqueous paint and varnish imports to China, with a combined 55% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +13.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to China, comprising 45% of total imports. The second position in the ranking was held by South Korea ($X), with a 19% share of total imports. It was followed by Germany, with an 8% share.

From 2012 to 2022, the average annual growth rate of value from Japan totaled +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+4.7% per year) and Germany (+2.9% per year).

Import Prices by Country

In 2022, the average non-aqueous paint and varnish import price amounted to $X per ton, growing by 6.6% against the previous year. In general, the import price enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2019 an increase of 24%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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