India: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2024

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in India

The Indian market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium reduced slightly to $X in 2022, declining by -2.2% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in India

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium fell to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 22% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production of growth failed to regain momentum.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports from India

Exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from India surged to X tons in 2022, picking up by 24% against the year before. Overall, exports recorded a strong expansion. The pace of growth was the most pronounced in 2018 when exports increased by 57%. Over the period under review, the exports of reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium soared to $X in 2022. Over the period under review, exports saw strong growth. The pace of growth was the most pronounced in 2019 when exports increased by 65%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Bhutan (X tons), Qatar (X tons) and Myanmar (X tons) were the main destinations of exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from India, together comprising 49% of total exports.

From 2012 to 2022, the biggest increases were recorded for Bhutan (with a CAGR of +168.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exported from India were Bhutan ($X), Nepal ($X) and Qatar ($X), together accounting for 60% of total exports.

In terms of the main countries of destination, Bhutan, with a CAGR of +173.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, picking up by 2.3% against the previous year. Overall, the export price, however, saw a mild decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 31% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 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 Nepal ($X per ton), while the average price for exports to Myanmar ($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 Nepal (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports into India

In 2022, approx. X tons of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium were imported into India; with a decrease of -8.4% on the previous year's figure. In general, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium rose significantly to $X in 2022. Over the period under review, imports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by 49% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Italy (X tons) constituted the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium supplier to India, with a 28% share of total imports. Moreover, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by South Korea (X tons), with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled +32.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+16.7% per year) and South Korea (+18.7% per year).

In value terms, Italy ($X) constituted the largest supplier of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to India, comprising 34% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports. It was followed by South Korea, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value from Italy stood at +29.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+16.4% per year) and South Korea (+8.4% per year).

Import Prices by Country

In 2022, the average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, picking up by 17% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Turkey ($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 Arab Emirates (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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