Cote d'Ivoire: 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 Cote d'Ivoire

After two years of growth, the Cote d'Ivoire's non-aqueous paint and varnish market decreased by -0.6% to $X in 2022. Over the period under review, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -13.1% against 2018 indices. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Cote d'Ivoire

In value terms, non-aqueous paint and varnish production totaled $X in 2022 estimated in export price. Overall, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 -16.6% against 2018 indices. The growth pace was the most rapid in 2013 when the production volume increased by 74% against the previous year. Non-aqueous paint and varnish production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

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

Exports from Cote d'Ivoire

After six years of decline, shipments abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium increased by 87% to X tons in 2022. In general, exports, however, continue to indicate a abrupt decline. Over the period under review, the exports attained the maximum 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 surged to $X in 2022. Overall, exports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2014 when exports increased by 80% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Congo (X tons), Burkina Faso (X tons) and Niger (X tons) were the main destinations of non-aqueous paint and varnish exports from Cote d'Ivoire, with a combined 61% share of total exports. Gabon, Ghana, Benin, Nigeria and Guinea lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of +11.7%), while the other leaders experienced mixed trend patterns.

In value terms, Congo ($X), Burkina Faso ($X) and Ghana ($X) appeared to be the largest markets for non-aqueous paint and varnish exported from Cote d'Ivoire worldwide, together comprising 53% of total exports. Niger, Gabon, Benin, Nigeria and Guinea lagged somewhat behind, together comprising a further 25%.

Niger, with a CAGR of +2.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, dropping by -7.9% against the previous year. In general, the export price saw a slight contraction. The growth pace was the most rapid in 2013 an increase of 18%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Guinea ($X per ton), while the average price for exports to Gabon ($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 Guinea (+18.0%), 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 Cote d'Ivoire

After two years of growth, purchases abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by -25% to X tons in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of 108% against the previous year. As a result, imports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, non-aqueous paint and varnish imports reduced rapidly to $X in 2022. In general, imports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of 145% against the previous year. As a result, imports reached the peak of $X, and then fell rapidly in the following year.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of non-aqueous paint and varnish to Cote d'Ivoire, with a 39% share of total imports. Moreover, non-aqueous paint and varnish imports from France exceeded the figures recorded by the second-largest supplier, Belgium (X tons), sixfold. The third position in this ranking was held by Ghana (X tons), with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume from France totaled +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+22.1% per year) and Ghana (+45.6% per year).

In value terms, France ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Cote d'Ivoire, comprising 44% of total imports. The second position in the ranking was taken by Belgium ($X), with a 7.2% share of total imports. It was followed by Egypt, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France stood at +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+16.5% per year) and Egypt (+10.8% per year).

Import Prices by Country

In 2022, the average non-aqueous paint and varnish import price amounted to $X per ton, with a decrease of -6.1% against the previous year. Overall, the import price showed a mild reduction. The pace of growth appeared the most rapid in 2021 an increase of 18%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform