Eastern Asia: Polishes For Coachwork Market 2024

Polishes For Coachwork Market Size in Eastern Asia

The East Asian polishes for coachwork market declined to $X in 2022, leveling off at the previous year. In general, consumption continues to indicate a slight decrease. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Polishes For Coachwork Production in Eastern Asia

In value terms, polishes for coachwork production declined to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 17% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Polishes For Coachwork Exports

Exports in Eastern Asia

In 2022, the amount of polishes for coachwork exported in Eastern Asia fell significantly to X tons, with a decrease of -32.2% compared with the year before. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 38% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, polishes for coachwork exports contracted notably to $X in 2022. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 82%. As a result, the exports reached the peak of $X, and then declined notably in the following year.

Exports by Country

China was the largest exporting country with an export of about X tons, which finished at 72% of total exports. South Korea (X tons) took the second position in the ranking, distantly followed by Japan (X tons). All these countries together took near 22% share of total exports. Hong Kong SAR (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the polishes for coachwork exports, with a CAGR of +2.2% from 2012 to 2022. Japan (-1.5%), South Korea (-1.9%) and Hong Kong SAR (-8.2%) illustrated a downward trend over the same period. China (+12 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Hong Kong SAR saw its share reduced by -3.9% and -6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest polishes for coachwork supplier in Eastern Asia, comprising 62% of total exports. The second position in the ranking was held by South Korea ($X), with a 20% share of total exports. It was followed by Japan, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +12.3%. In the other countries, the average annual rates were as follows: South Korea (+6.9% per year) and Japan (-0.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by 7.8% against the previous year. Over the period under review, the export price enjoyed a prominent increase. The pace of growth appeared the most rapid in 2021 when the export price increased by 61%. The level of export peaked in 2022 and is expected to retain growth in the near future.

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 ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.8%), while the other leaders experienced more modest paces of growth.

Polishes For Coachwork Imports

Imports in Eastern Asia

In 2022, approx. X tons of polishes for coachwork were imported in Eastern Asia; reducing by -35% on 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 32%. As a result, imports attained the peak of X tons, and then dropped dramatically in the following year.

In value terms, polishes for coachwork imports contracted notably to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 36% against the previous year. As a result, imports reached the peak of $X, and then fell markedly in the following year.

Imports by Country

China represented the main importing country with an import of around X tons, which recorded 46% of total imports. Hong Kong SAR (X tons) held a 26% share (based on physical terms) of total imports, which put it in second place, followed by Japan (11%), Taiwan (Chinese) (9.2%) and South Korea (7.7%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +5.9%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported polishes for coachwork in Eastern Asia, comprising 46% of total imports. The second position in the ranking was taken by Japan ($X), with a 20% share of total imports. It was followed by Hong Kong SAR, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +2.8%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-0.9% per year) and Hong Kong SAR (-3.7% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, surging by 27% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Japan ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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