Kenya: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Kenya

The Kenyan market for oil and water paints and varnishes rose significantly to $X in 2021, increasing by 13% against the previous year. Overall, consumption, however, recorded a mild decline. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Oil And Water Paints And Varnishes in Kenya

In value terms, production of oil and water paints and varnishes rose sharply to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 16% against the previous year. Over the period under review, production of attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Oil And Water Paints And Varnishes

Exports from Kenya

In 2021, shipments abroad of oil and water paints and varnishes increased by 23% to X tons, rising for the second consecutive year after three years of decline. In general, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +66.9% against 2019 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 48% against the previous year. Over the period under review, the exports of attained the maximum in 2021 and are likely to continue growth in the near future.

In value terms, exports of oil and water paints and varnishes expanded slightly to $X in 2021. Overall, total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +24.8% against 2019 indices. The pace of growth was the most pronounced in 2014 when exports increased by 60%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Democratic Republic of the Congo (X tons), Uganda (X tons) and Burundi (X tons) were the main destinations of exports of oil and water paints and varnishes from Kenya, together accounting for 80% 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 Burundi (with a CAGR of +30.7%), while the other leaders experienced more modest paces of growth.

In value terms, Democratic Republic of the Congo ($X), Rwanda ($X) and Uganda ($X) appeared to be the largest markets for oil and water paints and varnishes exported from Kenya worldwide, together accounting for 81% of total exports. Burundi and Tanzania lagged somewhat behind, together accounting for a further 17%.

Burundi, with a CAGR of +22.7%, saw the highest rates of growth with regard to 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

In 2021, the average export price for oil and water paints and varnishes amounted to $X per ton, declining by -14.8% against the previous year. Over the period under review, the export price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 when the average export price increased by 8.4% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Tanzania ($X per ton), while the average price for exports to Uganda ($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 Tanzania (+5.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Oil And Water Paints And Varnishes

Imports into Kenya

In 2021, after two years of decline, there was significant growth in supplies from abroad of oil and water paints and varnishes, when their volume increased by 205% to X tons. Over the period under review, imports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2015 when imports increased by 269% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of oil and water paints and varnishes skyrocketed to $X in 2021. Overall, imports, however, recorded a mild downturn. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of oil and water paints and varnishes to Kenya, accounting for a 24% share of total imports. Moreover, imports of oil and water paints and varnishes from Malaysia exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia stood at +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-17.9% per year) and Taiwan (Chinese) (-13.0% per year).

In value terms, China ($X) constituted the largest supplier of oil and water paints and varnishes to Kenya, comprising 17% of total imports. The second position in the ranking was held by Malaysia ($X), with an 8.2% share of total imports. It was followed by South Africa, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+11.3% per year) and South Africa (+48.0% per year).

Import Prices by Country

The average import price for oil and water paints and varnishes stood at $X per ton in 2021, jumping by 30% against the previous year. Overall, the import price enjoyed strong growth. The pace of growth appeared the most rapid in 2016 an increase of 72%. Over the period under review, average import prices attained the maximum in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Jordan ($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 (+26.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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