Latin America and the Caribbean: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Latin America and the Caribbean

The Latin American non-aqueous paint and varnish market dropped to $X in 2022, leveling off at the previous year. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Latin America and the Caribbean

In value terms, non-aqueous paint and varnish production totaled $X in 2022 estimated in export price. Overall, production, however, saw a slight reduction. The pace of growth appeared the most rapid in 2013 when the production volume increased by 5.8%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports in Latin America and the Caribbean

In 2022, overseas shipments of paints and varnishes dispersed or dissolved in a non-aqueous medium increased by 4.6% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 21%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, non-aqueous paint and varnish exports surged to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Brazil (X tons), distantly followed by Mexico (X tons), Guatemala (X tons), Costa Rica (X tons), El Salvador (X tons) and Colombia (X tons) represented the major exporters of paints and varnishes dispersed or dissolved in a non-aqueous medium, together committing 86% of total exports. Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by El Salvador (with a CAGR of +3.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest non-aqueous paint and varnish supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Guatemala ($X), together comprising 70% of total exports. Costa Rica, El Salvador, Colombia and Argentina lagged somewhat behind, together accounting for a further 21%.

El Salvador, with a CAGR of +7.3%, recorded the highest rates of growth with regard to the value of exports, among 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 16% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Mexico ($X per ton), while Guatemala ($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 (+3.6%), while the other leaders experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports in Latin America and the Caribbean

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium imported in Latin America and the Caribbean shrank modestly to X tons, with a decrease of -2.8% on 2021 figures. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 16%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, non-aqueous paint and varnish imports stood at $X in 2022. The total import value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 24%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Mexico represented the main importing country with an import of about X tons, which amounted to 29% of total imports. Brazil (X tons) ranks second in terms of the total imports with an 8% share, followed by Argentina (7.6%), Peru (5.2%), Honduras (5%) and Chile (4.9%). Colombia (X tons), Nicaragua (X tons), Guatemala (X tons), Panama (X tons), El Salvador (X tons), Costa Rica (X tons) and Bolivia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to non-aqueous paint and varnish imports into Mexico stood at +1.6%. At the same time, Panama (+32.3%), Guatemala (+6.1%), Peru (+5.4%), Nicaragua (+4.7%), Chile (+3.1%), Costa Rica (+3.0%), Argentina (+2.7%), Bolivia (+2.6%), Honduras (+2.3%), Colombia (+2.0%) and Brazil (+1.8%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +32.3% from 2012-2022. By contrast, El Salvador (-2.7%) illustrated a downward trend over the same period. Panama (+3 p.p.) significantly strengthened its position in terms of the total imports, while El Salvador and Mexico saw its share reduced by -1.7% 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 ($X) constitutes the largest market for imported paints and varnishes dispersed or dissolved in a non-aqueous medium in Latin America and the Caribbean, comprising 42% of total imports. The second position in the ranking was held by Brazil ($X), with a 10% share of total imports. It was followed by Argentina, with a 7.9% share.

In Mexico, non-aqueous paint and varnish imports increased at an average annual rate of +4.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+2.3% per year) and Argentina (+2.6% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 13% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 13% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Honduras ($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 (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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