Indonesia: 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 Indonesia

In 2022, the Indonesian market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by 16% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; afterwards, it flattened through to 2022.

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

Exports from Indonesia

In 2022, shipments abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by 27% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of 68% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium surged to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 101% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Malaysia (X tons), Vietnam (X tons) and Ghana (X tons) were the main destinations of exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Indonesia, with a combined 67% share of total exports. Qatar, Mexico, the Philippines, Thailand and Timor-Leste lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +93.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Qatar ($X) and Malaysia ($X) appeared to be the largest markets for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exported from Indonesia worldwide, together comprising 69% of total exports.

Qatar, with a CAGR of +92.8%, recorded the highest growth rate of the value of exports, in terms of 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 export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, growing by 21% against the previous year. In general, the export price saw a tangible expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 50% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 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 Qatar ($X per ton), while the average price for exports to Ghana ($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 Mexico (+10.3%), 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 Indonesia

In 2022, overseas purchases of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by 20% to X tons, rising for the second consecutive year after three years of decline. Overall, total imports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 23% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium soared to $X in 2022. The total import value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 20%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Taiwan (Chinese) (X tons), Thailand (X tons) and Singapore (X tons) were the main suppliers of imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Indonesia, with a combined 46% share of total imports. Japan, Malaysia, the Netherlands, the Philippines, the UK, Italy, China, Germany, South Korea and the United States lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +59.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Thailand ($X) and Singapore ($X) were the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium suppliers to Indonesia, together accounting for 29% of total imports. The Netherlands, Italy, Japan, Malaysia, the Philippines, China, Germany, the UK, South Korea and the United States lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, Italy, with a CAGR of +39.9%, saw the highest growth rate of 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

In 2022, the average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, with a decrease of -3.8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 27%. The import price peaked at $X per ton in 2020; however, from 2021 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 Italy ($X per ton), while the price for Thailand ($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 (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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