China: Polishes For Coachwork Market 2024

Polishes For Coachwork Market Size in China

The Chinese polishes for coachwork market reached $X in 2022, picking up by 3.8% against the previous year. The market value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Polishes for coachwork consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Polishes For Coachwork Production in China

In value terms, polishes for coachwork production totaled $X in 2022 estimated in export price. Overall, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 31% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Polishes For Coachwork Exports

Exports from China

Polishes for coachwork exports from China dropped significantly to X tons in 2022, which is down by -37.1% against the year before. Over the period under review, total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -40.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, polishes for coachwork exports shrank dramatically to $X in 2022. In general, exports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2021 when exports increased by 121% against the previous year. As a result, the exports attained the peak of $X, and then contracted dramatically in the following year.

Exports by Country

Singapore (X tons), Pakistan (X tons) and Chile (X tons) were the main destinations of polishes for coachwork exports from China, with a combined 29% share of total exports. Japan, Bangladesh, Malaysia, Kyrgyzstan, Peru, the Philippines, Australia, the United Arab Emirates, Colombia and Nigeria 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 Bangladesh (with a CAGR of +43.8%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) emerged as the key foreign market for polishes for coachwork exports from China, comprising 16% of total exports. The second position in the ranking was held by Pakistan ($X), with a 4.8% share of total exports. It was followed by Malaysia, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore stood at +37.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+4.9% per year) and Malaysia (+6.0% per year).

Export Prices by Country

In 2022, the average polishes for coachwork export price amounted to $X per ton, picking up by 4.4% against the previous year. Over the period under review, the export price recorded prominent growth. The pace of growth appeared the most rapid in 2021 an increase of 105%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Chile ($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 Singapore (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Polishes For Coachwork Imports

Imports into China

In 2022, imports of polishes for coachwork into China dropped to X tons, waning by -8.7% on the year before. Overall, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% 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 +11.5% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 38% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, polishes for coachwork imports dropped slightly to $X in 2022. The total import value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 41% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of polishes for coachwork to China, with a 52% share of total imports. Moreover, polishes for coachwork imports from Germany exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+3.2% per year) and the United States (-2.9% per year).

In value terms, the largest polishes for coachwork suppliers to China were Germany ($X), the United States ($X) and the UK ($X), with a combined 84% share of total imports.

Germany, with a CAGR of +16.9%, saw the highest growth rate of the value of imports, in terms of 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 2022, the average polishes for coachwork import price amounted to $X per ton, growing by 5.8% against the previous year. Over the period under review, the import price, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2021 an increase of 15% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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