Hong Kong SAR, China: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2025

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Hong Kong SAR, China

The Hong Kong non-aqueous paint and varnish market dropped markedly to $X in 2022, with a decrease of -40.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a perceptible decline. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

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

Exports from Hong Kong SAR, China

For the third consecutive year, Hong Kong SAR recorded decline in overseas shipments of paints and varnishes dispersed or dissolved in a non-aqueous medium, which decreased by -31.4% to X tons in 2022. Overall, exports showed a deep reduction. The pace of growth appeared the most rapid in 2013 when exports increased by 24% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, non-aqueous paint and varnish exports stood at $X in 2022. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 3.2%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for non-aqueous paint and varnish exports from Hong Kong SAR, accounting for a 38% share of total exports. Moreover, non-aqueous paint and varnish exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), fourfold. The third position in this ranking was held by Japan (X tons), with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at -14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-0.1% per year) and Japan (-10.7% per year).

In value terms, China ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Hong Kong SAR, comprising 66% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 4.5% share of total exports. It was followed by Macao SAR, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+7.5% per year) and Macao SAR (-1.8% per year).

Export Prices by Country

In 2022, the average non-aqueous paint and varnish export price amounted to $X per ton, surging by 50% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-aqueous paint and varnish export price increased by +100.3% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Algeria ($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 Taiwan (Chinese) (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Hong Kong SAR, China

In 2022, overseas purchases of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by -43% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports showed a abrupt setback. The growth pace was the most rapid in 2017 when imports increased by 15%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, non-aqueous paint and varnish imports declined markedly to $X in 2022. Overall, imports showed a perceptible decline. The most prominent rate of growth was recorded in 2018 when imports increased by 33% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of non-aqueous paint and varnish to Hong Kong SAR, accounting for a 57% share of total imports. Moreover, non-aqueous paint and varnish imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sixfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+5.4% per year) and Taiwan (Chinese) (-11.8% per year).

In value terms, Japan ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Hong Kong SAR, comprising 45% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports. It was followed by the United States, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.8% per year) and the United States (-7.7% per year).

Import Prices by Country

The average non-aqueous paint and varnish import price stood at $X per ton in 2022, growing by 21% against the previous year. In general, the import price posted a measured increase. The most prominent rate of growth was recorded in 2021 an increase of 35% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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 Japan ($X per ton), while the price for Malaysia ($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 (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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