Indonesia: 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 Indonesia

The Indonesian aqueous paint and varnish market surged to $X in 2021, rising by 24% 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). In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

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

Exports from Indonesia

In 2021, overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium increased by 31% to X tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when exports increased by 31%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, aqueous paint and varnish exports surged to $X in 2021. Overall, total exports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Timor-Leste (X tons) was the main destination for aqueous paint and varnish exports from Indonesia, with a 45% share of total exports. Moreover, aqueous paint and varnish exports to Timor-Leste exceeded the volume sent to the second major destination, South Africa (X tons), twofold. The third position in this ranking was held by Malaysia (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Timor-Leste totaled +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+141.8% per year) and Malaysia (+9.6% per year).

In value terms, the largest markets for aqueous paint and varnish exported from Indonesia were Timor-Leste ($X), South Africa ($X) and Vietnam ($X), with a combined 65% share of total exports.

In terms of the main countries of destination, South Africa, with a CAGR of +161.7%, recorded the highest growth rate of 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 aqueous paint and varnish export price stood at $X per ton in 2021, with an increase of 2% against the previous year. Overall, the export price, however, saw a pronounced slump. The pace of growth appeared the most rapid in 2018 when the average export price increased by 54%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while the average price for exports to Timor-Leste ($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 South Africa (+8.2%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Indonesia

In 2021, aqueous paint and varnish imports into Indonesia soared to X tons, with an increase of 30% against the previous year's figure. In general, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, aqueous paint and varnish imports skyrocketed to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Singapore (X tons), Taiwan (Chinese) (X tons) and China (X tons) were the main suppliers of aqueous paint and varnish imports to Indonesia, with a combined 42% share of total imports. These countries were followed by Malaysia, South Korea, the UK, Japan, Vietnam, Thailand, the Netherlands, the Philippines, Germany and the United States, which together accounted for a further 51%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +77.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Singapore ($X) and South Korea ($X) constituted the largest aqueous paint and varnish suppliers to Indonesia, together comprising 39% of total imports. These countries were followed by Japan, Malaysia, Taiwan (Chinese), the Netherlands, Vietnam, Thailand, the Philippines, the UK, Germany and the United States, which together accounted for a further 48%.

The UK, with a CAGR of +43.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average aqueous paint and varnish import price stood at $X per ton in 2021, waning by -5.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 23% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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