Kenya: Paint And Varnish Market 2024

Paint And Varnish Market Size in Kenya

The Kenyan paint and varnish market reached $X in 2022, increasing by 3.8% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Paint and varnish consumption peaked in 2022 and is expected to retain growth in years to come.

Paint And Varnish Production in Kenya

In value terms, paint and varnish production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 7.8%. Paint and varnish production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Paint And Varnish Exports

Exports from Kenya

In 2022, the amount of paints and varnishes exported from Kenya contracted significantly to X tons, declining by -56.5% compared with 2021. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 65% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, paint and varnish exports contracted dramatically to $X in 2022. Over the period under review, exports, however, showed a temperate increase. The pace of growth was the most pronounced in 2015 with an increase of 62% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Democratic Republic of the Congo (X tons), Uganda (X tons) and Rwanda (X tons) were the main destinations of paint and varnish exports from Kenya, with a combined 66% share of total exports. Burundi, South Sudan, Somalia, Zambia and Tanzania lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Zambia (with a CAGR of +35.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for paint and varnish exported from Kenya were Rwanda ($X), Democratic Republic of the Congo ($X) and Uganda ($X), together comprising 59% of total exports. Burundi, South Sudan, Zambia, Tanzania and Somalia lagged somewhat behind, together comprising a further 34%.

In terms of the main countries of destination, Zambia, with a CAGR of +35.5%, 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 paint and varnish export price stood at $X per ton in 2022, picking up by 47% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Zambia ($X per ton), while the average price for exports to Somalia ($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 Burundi (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Kenya

In 2022, overseas purchases of paints and varnishes decreased by -16.2% to X tons, falling for the third year in a row after three years of growth. Overall, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -29.0% against 2019 indices. The pace of growth was the most pronounced in 2014 when imports increased by 37% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, paint and varnish imports expanded to $X in 2022. The total import value 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 pace of growth appeared the most rapid in 2014 with an increase of 33% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Egypt (X tons), Italy (X tons) and China (X tons) were the main suppliers of paint and varnish imports to Kenya, together comprising 63% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +13.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Egypt ($X) and China ($X) appeared to be the largest paint and varnish suppliers to Kenya, together accounting for 62% of total imports.

China, with a CAGR of +12.5%, 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 paint and varnish import price amounted to $X per ton, with an increase of 25% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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