Cuba: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2025

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Cuba

In 2021, the Cuban non-aqueous paint and varnish market increased by 50% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a noticeable setback. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

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

Exports from Cuba

In 2021, overseas shipments of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by 0% to X kg, falling for the third year in a row after two years of growth. In general, exports faced a sharp shrinkage. The growth pace was the most rapid in 2015 when exports increased by 8,350% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, non-aqueous paint and varnish exports amounted to $X in 2021. Overall, exports showed a sharp reduction. The most prominent rate of growth was recorded in 2015 with an increase of 4,754% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Angola (X kg) was the main destination for non-aqueous paint and varnish exports from Cuba, accounting for a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Angola stood at +64.6%.

From 2012 to 2021, the average annual growth rate of value to Angola totaled -14.5%.

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2021, remaining stable against the previous year. In general, the export price continues to indicate a abrupt downturn. The growth pace was the most rapid in 2019 when the average export price increased by 124%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Angola.

From 2012 to 2021, the rate of growth in terms of prices for Venezuela amounted to +6.2% per year.

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

Imports into Cuba

In 2021, supplies from abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium increased by 58% to X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, imports, however, saw a perceptible setback. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, non-aqueous paint and varnish imports skyrocketed to $X in 2021. In general, imports, however, saw a pronounced shrinkage. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of non-aqueous paint and varnish to Cuba, with a 70% share of total imports. Moreover, non-aqueous paint and varnish imports from Spain exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. The third position in this ranking was held by Mexico (X tons), with a 2.5% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+19.5% per year) and Mexico (-27.1% per year).

In value terms, Spain ($X) constituted the largest supplier of non-aqueous paint and varnish to Cuba, comprising 76% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.4% share of total imports. It was followed by Mexico, with a 2.4% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+21.9% per year) and Mexico (-24.9% per year).

Import Prices by Country

In 2021, the average non-aqueous paint and varnish import price amounted to $X per ton, shrinking by -6.1% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 18%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Canada ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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