Egypt: 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 Egypt

In 2021, the Egyptian aqueous paint and varnish market decreased by -1.9% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Aqueous paint and varnish consumption peaked at $X in 2020, and then contracted slightly in the following year.

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

In value terms, aqueous paint and varnish production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +28.6% against 2017 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 13% against the previous year. Aqueous paint and varnish production peaked at $X in 2020, and then contracted modestly in the following year.

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

Exports from Egypt

In 2021, overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium decreased by -23.4% to X tons, falling for the second year in a row after four years of growth. Over the period under review, exports showed a pronounced curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 102%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, aqueous paint and varnish exports totaled $X in 2021. In general, exports, however, enjoyed prominent growth. The growth pace was the most rapid in 2019 when exports increased by 139%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Libya (X tons) was the main destination for aqueous paint and varnish exports from Egypt, with a 42% share of total exports. Moreover, aqueous paint and varnish exports to Libya exceeded the volume sent to the second major destination, Palestine (X tons), threefold. Yemen (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Libya totaled -11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Palestine (+49.1% per year) and Yemen (+13.1% per year).

In value terms, Libya ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from Egypt, comprising 45% of total exports. The second position in the ranking was held by Palestine ($X), with a 14% share of total exports. It was followed by Yemen, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Libya totaled +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Palestine (+72.5% per year) and Yemen (+30.9% per year).

Export Prices by Country

In 2021, the average aqueous paint and varnish export price amounted to $X per ton, increasing by 38% against the previous year. Over the period under review, the export price recorded a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 182% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Panama ($X per ton), while the average price for exports to Eritrea ($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 Panama (+41.9%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Egypt

Aqueous paint and varnish imports into Egypt soared to X tons in 2021, picking up by 16% compared with 2020 figures. The total import volume increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when imports increased by 28% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, aqueous paint and varnish imports surged to $X in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +131.9% against 2014 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 31%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Italy (X tons) constituted the largest aqueous paint and varnish supplier to Egypt, with a 34% share of total imports. Moreover, aqueous paint and varnish imports from Italy exceeded the figures recorded by the second-largest supplier, Greece (X tons), threefold. The UK (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume from Italy amounted to +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+41.4% per year) and the UK (-9.9% per year).

In value terms, Italy ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in an aqueous medium to Egypt, comprising 37% of total imports. The second position in the ranking was taken by the UK ($X), with an 11% share of total imports. It was followed by Greece, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+0.4% per year) and Greece (+64.8% per year).

Import Prices by Country

The average aqueous paint and varnish import price stood at $X per ton in 2021, surging by 9.5% against the previous year. In general, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aqueous paint and varnish import price increased by +115.6% against 2015 indices. The growth pace was the most rapid in 2020 an increase of 45% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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