Latin America and the Caribbean: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2025

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Latin America and the Caribbean

The Latin American market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium dropped to $X in 2022, almost unchanged from the previous year. In general, consumption showed a perceptible slump. The growth pace was the most rapid in 2021 when the market value increased by 2.7%. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Latin America and the Caribbean

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium contracted slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 1.8% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports in Latin America and the Caribbean

In 2022, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in Latin America and the Caribbean amounted to X tons, picking up by 3.7% on 2021 figures. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +101.1% against 2012 indices. The growth pace was the most rapid in 2021 with an increase of 44%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 55%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

Brazil (X tons), Costa Rica (X tons), Mexico (X tons) and El Salvador (X tons) represented roughly 84% of total exports in 2022. The Dominican Republic (X tons), Argentina (X tons), Colombia (X tons) and Nicaragua (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of +78.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), El Salvador ($X) and Costa Rica ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 64% share of total exports. Mexico, Argentina, the Dominican Republic, Colombia and Nicaragua lagged somewhat behind, together comprising a further 29%.

Nicaragua, with a CAGR of +60.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, growing by 8.3% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+4.1%), while the other leaders experienced more modest paces of growth.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports in Latin America and the Caribbean

In 2022, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in Latin America and the Caribbean dropped slightly to X tons, falling by -3.2% against 2021 figures. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 36%. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium reached $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 29% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

Mexico was the largest importer of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was near 29% of total imports in 2022. Guatemala (X tons) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by Paraguay (8.6%), Panama (8%), Honduras (5.5%) and Chile (5%). The following importers - Bolivia (X tons), Uruguay (X tons), the Dominican Republic (X tons), Nicaragua (X tons), Argentina (X tons), El Salvador (X tons) and Brazil (X tons) - together made up 18% of total imports.

From 2012 to 2022, average annual rates of growth with regard to paints and varnishes, based on acrylic or vinyl polymers, aqueous medium imports into Mexico stood at +6.9%. At the same time, Panama (+40.4%), the Dominican Republic (+12.3%), Honduras (+10.8%), El Salvador (+8.4%), Guatemala (+7.3%), Chile (+7.2%), Paraguay (+5.8%), Uruguay (+4.3%), Bolivia (+4.3%) and Nicaragua (+2.0%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +40.4% from 2012-2022. Argentina and Brazil experienced a relatively flat trend pattern. Panama (+7.5 p.p.) and Honduras (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Brazil and Argentina saw its share reduced by -1.8% and -1.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in Latin America and the Caribbean, comprising 33% of total imports. The second position in the ranking was held by Guatemala ($X), with a 9.1% share of total imports. It was followed by Panama, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to +6.2%. The remaining importing countries recorded the following average annual rates of imports growth: Guatemala (+11.5% per year) and Panama (+28.5% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 10% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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