Report Update Nov 1, 2024

Cuba - Paints and Varnishes - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Cuba: Paint And Varnish Market 2024

Paint And Varnish Market Size in Cuba

After two years of decline, the Cuban paint and varnish market increased by 29% to $X in 2021. Over the period under review, consumption, however, showed a deep slump. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Paint And Varnish Exports

Exports from Cuba

Paint and varnish exports from Cuba dropped remarkably to X kg in 2021, reducing by -65% against the year before. Over the period under review, exports saw a dramatic setback. The pace of growth was the most pronounced in 2018 when exports increased by 48%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, paint and varnish exports declined significantly to $X in 2021. Overall, exports continue to indicate a dramatic downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 35% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

New Zealand (X kg), Chile (X kg) and France (X kg) were the main destinations of paint and varnish exports from Cuba, together comprising 95% of total exports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +154.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, France ($X) emerged as the key foreign market for paints and varnishes exports from Cuba, comprising 71% of total exports. The second position in the ranking was held by Chile ($X), with a 13% share of total exports. It was followed by New Zealand, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to France amounted to +367.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-48.9% per year) and New Zealand (0.0% per year).

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2021, increasing by 80% against the previous year. In general, the export price saw a buoyant increase. The pace of growth appeared the most rapid in 2017 an increase of 141%. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the average price for exports to New Zealand ($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 Denmark (+362.4%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Cuba

In 2021, overseas purchases of paints and varnishes were finally on the rise to reach X tons after two years of decline. Overall, imports, however, showed a deep reduction. The growth pace was the most rapid in 2015 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, paint and varnish imports skyrocketed to $X in 2021. In general, imports, however, recorded a abrupt downturn. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest paint and varnish supplier to Cuba, accounting for a 60% share of total imports. Moreover, paint and varnish imports from Spain exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. Mexico (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+15.9% per year) and Mexico (-18.7% per year).

In value terms, Spain ($X) constituted the largest supplier of paints and varnishes to Cuba, comprising 67% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.9% share of total imports. It was followed by Mexico, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain amounted to -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+16.7% per year) and Mexico (-15.7% per year).

Import Prices by Country

The average paint and varnish import price stood at $X per ton in 2021, rising by 15% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Canada (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for paints and varnishes in the world?

China constituted the country with the largest volume of paint and varnish consumption, comprising approx. 32% of total volume. Moreover, paint and varnish consumption in China exceeded the figures recorded by the second-largest consumer, Brazil, threefold. The third position in this ranking was occupied by the United States, with an 8.6% share.

What are the largest producers of paints and varnishes in the world?

The country with the largest volume of paint and varnish production was China, accounting for 32% of total volume. Moreover, paint and varnish production in China exceeded the figures recorded by the second-largest producer, the United States, threefold. Brazil ranked third in terms of total production with a 9.1% share.

What are the leading suppliers of paints and varnishes to Cuba?

In value terms, Spain constituted the largest supplier of paint and varnish to Cuba, comprising 68% of total imports. The second position in the ranking was occupied by Mexico, with an 11% share of total imports. It was followed by the United Arab Emirates, with a 4.5% share.

What are the leading importers of paints and varnishes from Cuba?

In value terms, Chile and New Zealand appeared to be the largest markets for paint and varnish exported from Cuba worldwide.

What is the average export price for paints and varnishes in Cuba?

The average paint and varnish export price stood at $2,857 per ton in 2021, flattening at the previous year.

What is the average import price for paints and varnishes in Cuba?

In 2021, the average paint and varnish import price amounted to $3,355 per ton, dropping by -3.4% against the previous year.

This report provides an in-depth analysis of the paint and varnish market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20301150 - Paints and varnishes, based on acrylic or vinyl polymers dispersed or dissolved in an aqueous medium (including enamels and lacquers)
Prodcom 20301170 - Other paints, varnishes dispersed or dissolved in an aqueous medium
Prodcom 20301225 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium, weight of the solvent > .50 % of the weight of the solution including enamels and lacquers
Prodcom 20301229 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium including enamels and lacquers excluding weight of the solvent > .50 % of the weight of the solution
Prodcom 20301230 - Paints and varnishes, based on acrylic or vinyl polymers dispersed/dissolved in non-aqueous medium, weight of the solvent > .50 % of the solution weight including enamels and lacquers
Prodcom 20301250 - Other paints and varnishes based on acrylic or vinyl polymers
Prodcom 20301270 - Paints and varnishes: solutions n.e.c.
Prodcom 20301290 - Other paints and varnishes based on synthetic polymers n.e.c.
Prodcom 20302213 - Oil paints and varnishes (including enamels and lacquers)
Prodcom 20302215 - Prepared water pigments for finishing leather, paints and varnishes (including enamels, lacquers and distempers) (excluding of oil)

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023