China: Paint And Varnish Market 2025

Paint And Varnish Market Size in China

The Chinese paint and varnish market was estimated at $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Paint And Varnish Production in China

In value terms, paint and varnish production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 19% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Paint And Varnish Exports

Exports from China

In 2022, paint and varnish exports from China rose remarkably to X tons, increasing by 8% against the previous year. The total export volume increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 41%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, paint and varnish exports rose remarkably to $X in 2022. The total export value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when exports increased by 19%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Vietnam (X tons), Russia (X tons) and Panama (X tons) were the main destinations of paint and varnish exports from China, together accounting for 23% of total exports. Liberia, Indonesia, India, Marshall Islands, Singapore, Pakistan, Myanmar, Malaysia, Bangladesh and Thailand lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +42.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for paint and varnish exported from China were Vietnam ($X), Russia ($X) and Panama ($X), together comprising 26% of total exports.

In terms of the main countries of destination, Russia, with a CAGR of +30.6%, recorded the highest rates of growth with regard to the value of exports, 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 paint and varnish export price amounted to $X per ton, picking up by 5.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2016 when the average export price increased by 15% against the previous year. As a result, the export price reached 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 Thailand ($X per ton), while the average price for exports to Myanmar ($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 Malaysia (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into China

Paint and varnish imports into China contracted to X tons in 2022, waning by -9.6% against the previous year. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 20%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, paint and varnish imports dropped to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.0% against 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

Germany (X tons), South Korea (X tons) and Japan (X tons) were the main suppliers of paint and varnish imports to China, together comprising 52% of total imports. The United States, Singapore, Malaysia, Italy, the Netherlands, the UK, Finland and France lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +21.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and Germany ($X) appeared to be the largest paint and varnish suppliers to China, together accounting for 66% of total imports. The United States, Singapore, Malaysia, the UK, the Netherlands, Italy, France and Finland lagged somewhat behind, together comprising a further 23%.

Among the main suppliers, Finland, with a CAGR of +16.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average paint and varnish import price amounted to $X per ton, picking up by 4.2% against the previous year. In general, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, paint and varnish import price increased by +70.9% against 2016 indices. The pace of growth was the most pronounced in 2018 an increase of 18%. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Finland ($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 (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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