Ethiopia: Paint And Varnish Market 2024

Paint And Varnish Market Size in Ethiopia

After three years of decline, the Ethiopian paint and varnish market increased by 56% to $X in 2022. Overall, consumption showed a prominent expansion. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Paint And Varnish Exports

Exports from Ethiopia

In 2022, approx. X tons of paints and varnishes were exported from Ethiopia; with an increase of 96% compared with the year before. In general, exports showed measured growth. The pace of growth was the most pronounced in 2013 when exports increased by 209%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, paint and varnish exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a pronounced reduction. The growth pace was the most rapid in 2018 with an increase of 77% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Djibouti (X tons) was the main destination for paint and varnish exports from Ethiopia, accounting for a 78% share of total exports. Moreover, paint and varnish exports to Djibouti exceeded the volume sent to the second major destination, Ireland (X tons), sevenfold. The United Arab Emirates (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Djibouti totaled +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (0.0% per year) and the United Arab Emirates (+1.4% per year).

In value terms, Djibouti ($X) remains the key foreign market for paints and varnishes exports from Ethiopia, comprising 64% of total exports. The second position in the ranking was held by Ireland ($X), with a 26% share of total exports. It was followed by the United Arab Emirates, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value to Djibouti stood at -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (0.0% per year) and the United Arab Emirates (+2.6% per year).

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2022, which is down by -31.1% against the previous year. Over the period under review, the export price recorded a abrupt slump. The pace of growth was the most pronounced in 2016 an increase of 60%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Somalia (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Ethiopia

In 2022, paint and varnish imports into Ethiopia surged to X tons, with an increase of 69% against the previous year. In general, imports recorded buoyant growth. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, paint and varnish imports skyrocketed to $X in 2022. Overall, imports recorded strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by 74%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Egypt (X tons) constituted the largest supplier of paint and varnish to Ethiopia, accounting for a 53% share of total imports. Moreover, paint and varnish imports from Egypt exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Egypt amounted to +32.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.6% per year) and the United Arab Emirates (+22.9% per year).

In value terms, Egypt ($X) constituted the largest supplier of paints and varnishes to Ethiopia, comprising 38% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by the United Arab Emirates, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value from Egypt amounted to +27.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.7% per year) and the United Arab Emirates (+27.0% per year).

Import Prices by Country

The average paint and varnish import price stood at $X per ton in 2022, which is down by -8.5% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 21% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 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 Israel ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform