India: 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 India

The Indian aqueous paint and varnish market skyrocketed to $X in 2021, with an increase of 46% 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). Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

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

Exports from India

In 2021, after two years of decline, there was significant growth in shipments abroad of paints and varnishes dispersed or dissolved in an aqueous medium, when their volume increased by 30% to X tons. Overall, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 81% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, aqueous paint and varnish exports reached $X in 2021. Over the period under review, exports showed a prominent increase. The growth pace was the most rapid in 2018 when exports increased by 117% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Qatar (X tons), Bhutan (X tons) and Bangladesh (X tons) were the main destinations of aqueous paint and varnish exports from India, together accounting for 48% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +347.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for aqueous paint and varnish exported from India were Bangladesh ($X), Qatar ($X) and Nepal ($X), with a combined 54% share of total exports.

Qatar, with a CAGR of +367.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average aqueous paint and varnish export price stood at $X per ton in 2021, shrinking by -15.8% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 20%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Saudi Arabia ($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 Bangladesh (+4.8%), 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 India

After two years of decline, supplies from abroad of paints and varnishes dispersed or dissolved in an aqueous medium increased by 44% to X tons in 2021. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish imports surged to $X in 2021. In general, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Italy (X tons) and the United States (X tons) were the main suppliers of aqueous paint and varnish imports to India, together accounting for 42% of total imports. South Korea, the United Arab Emirates, Germany, Japan, the UK, Singapore, Belgium, Spain, Argentina and the Netherlands lagged somewhat behind, together accounting for a further 47%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +25.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest aqueous paint and varnish suppliers to India were Italy ($X), Japan ($X) and Germany ($X), together comprising 38% of total imports. South Korea, China, the United States, Belgium, the United Arab Emirates, Singapore, the UK, the Netherlands, Spain and Argentina lagged somewhat behind, together comprising a further 50%.

The United Arab Emirates, with a CAGR of +35.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, with a decrease of -2.2% against the previous year. Over the period under review, the import price showed a deep downturn. The most prominent rate of growth was recorded in 2020 when the average import price increased by 3.8% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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