Ethiopia: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Ethiopia

The Ethiopian non-aqueous paint and varnish market was finally on the rise to reach $X in 2022, after three years of decline. In general, consumption showed a remarkable increase. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports from Ethiopia

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium exported from Ethiopia reduced rapidly to X kg, with a decrease of -61.8% on the previous year's figure. Overall, exports faced a precipitous slump. The most prominent rate of growth was recorded in 2015 with an increase of 14,525% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-aqueous paint and varnish exports shrank significantly to $X in 2022. In general, exports continue to indicate a precipitous shrinkage. The growth pace was the most rapid in 2015 with an increase of 901%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Djibouti (X kg) was the main destination for non-aqueous paint and varnish exports from Ethiopia, accounting for a 67% share of total exports. Moreover, non-aqueous paint and varnish exports to Djibouti exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), fivefold. Ireland (X kg) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to Djibouti amounted to -30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-27.1% per year) and Ireland (0.0% per year).

In value terms, Djibouti ($X) emerged as the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Ethiopia, comprising 65% of total exports. The second position in the ranking was held by Ireland ($X), with a 26% share of total exports. It was followed by Rwanda, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Djibouti amounted to -42.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (0.0% per year) and Rwanda (-18.0% per year).

Export Prices by Country

In 2022, the average non-aqueous paint and varnish export price amounted to $X per ton, reducing by -48% against the previous year. Overall, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2019 when the average export price increased by 806% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+2.3%), while the prices for the other major destinations experienced a decline.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports into Ethiopia

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium imported into Ethiopia soared to X tons, growing by 17% on the previous year. In general, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 88%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, non-aqueous paint and varnish imports expanded slightly to $X in 2022. Overall, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 110% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Egypt (X tons), China (X tons) and the United Arab Emirates (X tons) were the main suppliers of non-aqueous paint and varnish imports to Ethiopia, together accounting for 82% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +19.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-aqueous paint and varnish suppliers to Ethiopia were Egypt ($X), China ($X) and the United Arab Emirates ($X), with a combined 64% share of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +21.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-aqueous paint and varnish import price stood at $X per ton in 2022, dropping by -10.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 18%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Sudan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform