Eastern Asia: Market for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings 2024

Market Size for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Eastern Asia

The East Asian market for glaziers putty, grafting putty, other mastics and painters' fillings reduced modestly to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Eastern Asia

In value terms, production of glaziers putty, grafting putty, other mastics and painters' fillings amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 12% against the previous year. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Exports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Exports in Eastern Asia

Exports of glaziers putty, grafting putty, other mastics and painters' fillings skyrocketed to X tons in 2022, picking up by 21% on the year before. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +38.9% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of glaziers putty, grafting putty, other mastics and painters' fillings rose rapidly to $X in 2022. Overall, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

China represented the key exporting country with an export of around X tons, which resulted at 63% of total exports. South Korea (X tons) took the second position in the ranking, distantly followed by Japan (X tons). All these countries together held near 34% share of total exports. Hong Kong SAR (X tons) took a little share of total exports.

China was also the fastest-growing in terms of the glaziers putty, grafting putty, other mastics and painters' fillings exports, with a CAGR of +10.9% from 2012 to 2022. At the same time, Japan (+3.0%), Hong Kong SAR (+2.2%) and South Korea (+1.4%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by +21 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest glaziers, grafting putty and painters' filling supplying countries in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together comprising 93% of total exports.

China, with a CAGR of +18.2%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, declining by -6.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2021 when the export price increased by 12%. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the other leaders experienced more modest paces of growth.

Imports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Imports in Eastern Asia

Imports of glaziers putty, grafting putty, other mastics and painters' fillings reduced to X tons in 2022, dropping by -11% on the previous year's figure. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 17%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of glaziers putty, grafting putty, other mastics and painters' fillings contracted to $X in 2022. The total import value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 23% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, China (X tons) represented the largest importer of glaziers putty, grafting putty, other mastics and painters' fillings, mixing up 41% of total imports. Taiwan (Chinese) (X tons) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (12%), Hong Kong SAR (11%), Japan (7.7%) and Macao SAR (6.7%). Democratic People's Republic of Korea (X tons) held a relatively small share of total imports.

China experienced a relatively flat trend pattern with regard to volume of imports of glaziers putty, grafting putty, other mastics and painters' fillings. At the same time, Democratic People's Republic of Korea (+24.7%), Hong Kong SAR (+6.1%), South Korea (+5.8%), Taiwan (Chinese) (+3.5%), Macao SAR (+1.9%) and Japan (+1.1%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +24.7% from 2012-2022. Democratic People's Republic of Korea (+3.8 p.p.), Hong Kong SAR (+3.2 p.p.) and South Korea (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while China saw its share reduced by -9.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported glaziers putty, grafting putty, other mastics and painters' fillings in Eastern Asia, comprising 55% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 20% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +4.4%. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+0.5% per year) and South Korea (+1.7% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of 5.5% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 12% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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