Latin America and the Caribbean: 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 Latin America and the Caribbean

In 2021, after five years of growth, there was decline in the Latin American aqueous paint and varnish market, when its value decreased by -0.7% to $X. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2020, and then declined modestly in the following year.

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

In value terms, aqueous paint and varnish production fell to $X in 2021 estimated in export price. In general, production continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2013 with an increase of 2.4% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

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

Exports in Latin America and the Caribbean

In 2021, the amount of paints and varnishes dispersed or dissolved in an aqueous medium exported in Latin America and the Caribbean surged to X tons, picking up by 34% against the year before. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.9% 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 +54.2% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish exports soared to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.5% 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 +52.1% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Brazil (X tons), distantly followed by Costa Rica (X tons), Guatemala (X tons), Mexico (X tons) and El Salvador (X tons) were the main exporters of paints and varnishes dispersed or dissolved in an aqueous medium, together generating 89% of total exports. The following exporters - Argentina (X tons) and Panama (X tons) - each recorded a 4.2% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +52.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Costa Rica ($X) were the countries with the highest levels of exports in 2021, with a combined 66% share of total exports. El Salvador, Guatemala, Panama and Argentina lagged somewhat behind, together accounting for a further 27%.

Panama, with a CAGR of +38.5%, recorded the highest growth rate of 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

The export price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by 8.1% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Mexico ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+2.6%), while the other leaders experienced more modest paces of growth.

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

Imports in Latin America and the Caribbean

In 2021, the amount of paints and varnishes dispersed or dissolved in an aqueous medium imported in Latin America and the Caribbean soared to X tons, growing by 26% compared with 2020. The total import volume increased at an average annual rate of +6.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish imports soared to $X in 2021. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the largest importing country with an import of around X tons, which reached 35% of total imports. Panama (X tons) held the second position in the ranking, followed by Guatemala (X tons), Honduras (X tons) and Paraguay (X tons). All these countries together held approx. 26% share of total imports. The following importers - Chile (X tons), El Salvador (X tons), Nicaragua (X tons), Argentina (X tons), the Dominican Republic (X tons), Bolivia (X tons), Brazil (X tons) and Colombia (X tons) - together made up 25% of total imports.

From 2012 to 2021, average annual rates of growth with regard to aqueous paint and varnish imports into Mexico stood at +7.4%. At the same time, Panama (+49.2%), the Dominican Republic (+16.4%), Chile (+8.5%), El Salvador (+8.4%), Honduras (+7.6%), Paraguay (+6.0%), Bolivia (+5.5%), Argentina (+5.1%), Guatemala (+4.7%) and Nicaragua (+4.0%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +49.2% from 2012-2021. Colombia experienced a relatively flat trend pattern. By contrast, Brazil (-6.2%) illustrated a downward trend over the same period. Panama (+6.8 p.p.), Mexico (+3.6 p.p.) and the Dominican Republic (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Colombia and Brazil saw its share reduced by -1.8% and -5.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported paints and varnishes dispersed or dissolved in an aqueous medium in Latin America and the Caribbean, comprising 41% of total imports. The second position in the ranking was held by Brazil ($X), with a 6.2% share of total imports. It was followed by Chile, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico stood at +5.8%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-0.7% per year) and Chile (+5.1% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by 2.1% against the previous year. Overall, the import price, however, continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2018 when the import price increased by 2.8%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Brazil ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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