Eastern Asia: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Eastern Asia

The East Asian aqueous paint and varnish market totaled $X in 2021, approximately equating the previous year. The market value increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Eastern Asia

In value terms, aqueous paint and varnish production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 16% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports in Eastern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of paints and varnishes dispersed or dissolved in an aqueous medium, when their volume increased by 17% to X tons. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish exports soared to $X in 2021. In general, exports showed a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporting country with an export of about X tons, which resulted at 39% of total exports. South Korea (X tons) took a 24% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (20%) and Japan (15%). Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +9.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest aqueous paint and varnish supplying countries in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), together comprising 87% of total exports. Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together comprising a further 13%.

Among the main exporting countries, Taiwan (Chinese), with a CAGR of +7.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2020 an increase of 3.8% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports in Eastern Asia

In 2021, approx. X tons of paints and varnishes dispersed or dissolved in an aqueous medium were imported in Eastern Asia; jumping by 23% compared with the year before. The total import volume increased at an average annual rate of +5.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish imports soared to $X in 2021. The total import value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main importer of paints and varnishes dispersed or dissolved in an aqueous medium, constituting 60% of total imports. Hong Kong SAR (X tons) ranks second in terms of the total imports with an 18% share, followed by South Korea (14%). The following importers - Taiwan (Chinese) (X tons), Japan (X tons) and Democratic People's Republic of Korea (X tons) - together made up 8.2% of total imports.

Imports into China increased at an average annual rate of +6.5% from 2012 to 2021. At the same time, South Korea (+9.0%), Democratic People's Republic of Korea (+6.4%) and Taiwan (Chinese) (+5.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +9.0% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Japan (-1.3%) illustrated a downward trend over the same period. China (+6.4 p.p.) and South Korea (+3.9 p.p.) significantly strengthened its position in terms of the total imports, while Japan and Hong Kong SAR saw its share reduced by -1.8% and -7.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported paints and varnishes dispersed or dissolved in an aqueous medium in Eastern Asia, comprising 58% of total imports. The second position in the ranking was held by South Korea ($X), with a 19% share of total imports. It was followed by Hong Kong SAR, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +6.0%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+4.5% per year) and Hong Kong SAR (-0.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, rising by 5.8% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Democratic People's Republic of Korea (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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