China: 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 China

After three years of growth, the Chinese aqueous paint and varnish market decreased by -0.1% to $X in 2021. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

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

In value terms, aqueous paint and varnish production dropped slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 21%. Aqueous paint and varnish production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

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

Exports from China

In 2021, overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium increased by 23% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish exports surged to $X in 2021. The total export value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR (X tons) was the main destination for aqueous paint and varnish exports from China, accounting for a 34% share of total exports. Moreover, aqueous paint and varnish exports to Hong Kong SAR exceeded the volume sent to the second major destination, Vietnam (X tons), threefold. The third position in this ranking was held by Iran (X tons), with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+27.0% per year) and Iran (+27.4% per year).

In value terms, Hong Kong SAR ($X), Vietnam ($X) and Thailand ($X) appeared to be the largest markets for aqueous paint and varnish exported from China worldwide, with a combined 42% share of total exports. These countries were followed by Iran, Taiwan (Chinese), South Korea, Indonesia, Nigeria, Russia, Iraq, Maldives, Venezuela and Angola, which together accounted for a further 27%.

Russia, with a CAGR of +52.6%, 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

The average aqueous paint and varnish export price stood at $X per ton in 2021, with an increase of 6.3% against the previous year. Overall, the export price recorded a mild expansion. The pace of growth was the most pronounced in 2013 when the average export price increased by 12% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while the average price for exports to Hong Kong SAR ($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 Venezuela (+5.1%), 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 China

Aqueous paint and varnish imports into China surged to X tons in 2021, growing by 30% against the previous year. Overall, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached 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. The total import value increased at an average annual rate of +6.0% 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.

Imports by Country

In 2021, Germany (X tons) constituted the largest aqueous paint and varnish supplier to China, accounting for a 38% share of total imports. Moreover, aqueous paint and varnish imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by Singapore (X tons), with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.2% per year) and Singapore (-1.6% per year).

In value terms, Germany ($X), the United States ($X) and Singapore ($X) appeared to be the largest aqueous paint and varnish suppliers to China, with a combined 55% share of total imports. These countries were followed by Japan, South Korea, Italy, Taiwan (Chinese) and Denmark, which together accounted for a further 26%.

Italy, with a CAGR of +21.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, growing by 2.9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 7.3%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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