Libya: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Libya

The Libyan market for oil and water paints and varnishes shrank to $X in 2021, with a decrease of -5.1% against the previous year. Overall, consumption recorded a deep contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Oil And Water Paints And Varnishes in Libya

In value terms, production of oil and water paints and varnishes contracted to $X in 2021 estimated in export price. Overall, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 40% against the previous year. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Oil And Water Paints And Varnishes

Exports from Libya

Exports of oil and water paints and varnishes from Libya contracted modestly to X tons in 2021, falling by -4.8% against 2020 figures. In general, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -17.7% against 2017 indices. The growth pace was the most rapid in 2016 when exports increased by 32%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of oil and water paints and varnishes shrank to $X in 2021. Overall, exports showed a drastic downturn. The smallest decline of -3.7% was in 2013. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Tunisia (X tons) was the main destination for exports of oil and water paints and varnishes from Libya, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Tunisia amounted to +5.8%.

In value terms, Tunisia ($X) also remains the key foreign market for oil and water paints and varnishes exports from Libya.

From 2012 to 2021, the average annual rate of growth in terms of value to Tunisia amounted to -8.5%.

Export Prices by Country

The average export price for oil and water paints and varnishes stood at $X per ton in 2021, reducing by -9.8% against the previous year. In general, the export price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2019 a decrease of -9.8%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Tunisia.

From 2012 to 2021, the rate of growth in terms of prices for Tunisia amounted to -13.5% per year.

Imports of Oil And Water Paints And Varnishes

Imports into Libya

Imports of oil and water paints and varnishes into Libya soared to X tons in 2021, growing by 107% on the year before. In general, imports saw a buoyant expansion. The pace of growth was the most pronounced in 2018 when imports increased by 180%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, imports of oil and water paints and varnishes surged to $X in 2021. Overall, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Tunisia (X tons), the United Arab Emirates (X tons) and Turkey (X tons) were the main suppliers of imports of oil and water paints and varnishes to Libya, with a combined 74% share of total imports. Jordan, Egypt, Italy and South Korea lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Jordan (with a CAGR of +102.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest oil and water paints and varnishes suppliers to Libya were Tunisia ($X), Turkey ($X) and Egypt ($X), together accounting for 54% of total imports. These countries were followed by the United Arab Emirates, Jordan, Italy and South Korea, which together accounted for a further 21%.

Among the main suppliers, Jordan, with a CAGR of +121.9%, recorded 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 import price for oil and water paints and varnishes stood at $X per ton in 2021, surging by 56% against the previous year. In general, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for oil and water paints and varnishes increased by +110.3% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Egypt ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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