Kenya: 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 Kenya

After two years of growth, the Kenyan aqueous paint and varnish market decreased by -1.8% to $X in 2021. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the market value increased by 6.8%. Aqueous paint and varnish consumption peaked at $X in 2020, and then dropped in the following year.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Kenya

In value terms, aqueous paint and varnish production contracted slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 with an increase of 7.8% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then shrank slightly in the following year.

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

Exports from Kenya

In 2021, aqueous paint and varnish exports from Kenya declined to X tons, waning by -14.2% against 2020. Over the period under review, exports, however, recorded a prominent increase. The growth pace was the most rapid in 2015 when exports increased by 91%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, aqueous paint and varnish exports dropped slightly to $X in 2021. Overall, exports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of 91%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Democratic Republic of the Congo (X tons), Rwanda (X tons) and Burundi (X tons) were the main destinations of aqueous paint and varnish exports from Kenya, with a combined 69% share of total exports. South Sudan, Uganda and Tanzania lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the biggest increases were recorded for South Sudan (with a CAGR of +40.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Rwanda ($X), Democratic Republic of the Congo ($X) and Burundi ($X) were the largest markets for aqueous paint and varnish exported from Kenya worldwide, together comprising 67% of total exports. Uganda, South Sudan and Tanzania lagged somewhat behind, together accounting for a further 28%.

South Sudan, with a CAGR of +24.5%, recorded the highest growth rate of 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

In 2021, the average aqueous paint and varnish export price amounted to $X per ton, with an increase of 14% against the previous year. Over the period under review, the export price, however, showed a noticeable decline. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Democratic Republic of the Congo ($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 Burundi (+2.1%), 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 Kenya

In 2021, purchases abroad of paints and varnishes dispersed or dissolved in an aqueous medium increased by 17% to X tons, rising for the third consecutive year after two years of decline. Overall, imports showed a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 182% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, aqueous paint and varnish imports totaled $X in 2021. Over the period under review, imports showed a pronounced expansion. The most prominent rate of growth was recorded in 2014 with an increase of 105% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Egypt (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of aqueous paint and varnish imports to Kenya, together comprising 71% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Egypt (with a CAGR of +53.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest aqueous paint and varnish suppliers to Kenya were Egypt ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 52% share of total imports.

Among the main suppliers, China, with a CAGR of +45.7%, saw the highest rates of growth with regard to 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

The average aqueous paint and varnish import price stood at $X per ton in 2021, dropping by -8.8% against the previous year. Over the period under review, the import price saw a deep slump. The growth pace was the most rapid in 2018 an increase of 12%. The import price peaked 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 Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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