Indonesia: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Indonesia

In 2022, the Indonesian non-aqueous paint and varnish market increased by 25% to $X, rising for the seventh consecutive year after three years of decline. Over the period under review, consumption enjoyed a strong increase. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

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

Exports from Indonesia

In 2022, shipments abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by -8.1% to X tons, falling for the fourth year in a row after seven years of growth. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 7.4% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-aqueous paint and varnish exports rose sharply to $X in 2022. The total export value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 20% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Vietnam (X tons), Singapore (X tons) and Thailand (X tons) were the main destinations of non-aqueous paint and varnish exports from Indonesia, with a combined 45% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +23.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-aqueous paint and varnish exported from Indonesia were Vietnam ($X), Singapore ($X) and India ($X), together comprising 40% of total exports.

Among the main countries of destination, Vietnam, with a CAGR of +22.8%, saw 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

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, surging by 21% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 23%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Timor-Leste ($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 Australia (+7.2%), 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 Indonesia

In 2022, after two years of growth, there was decline in overseas purchases of paints and varnishes dispersed or dissolved in a non-aqueous medium, when their volume decreased by -0.2% to X tons. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 11% against the previous year. As a result, imports reached the peak of X tons, leveling off in the following year.

In value terms, non-aqueous paint and varnish imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 29%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Belgium (X tons), South Korea (X tons) and Malaysia (X tons) were the main suppliers of non-aqueous paint and varnish imports to Indonesia, with a combined 38% share of total imports. China, Thailand, Singapore, Vietnam, Japan, Taiwan (Chinese), Germany, the Netherlands and the United States lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +42.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-aqueous paint and varnish suppliers to Indonesia were Belgium ($X), Singapore ($X) and South Korea ($X), together accounting for 38% of total imports.

Belgium, with a CAGR of +39.1%, recorded 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 2022, the average non-aqueous paint and varnish import price amounted to $X per ton, increasing by 14% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 17%. The import price peaked in 2022 and is likely to continue 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 the United States ($X per ton), while the price for Vietnam ($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 (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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