Libya: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2024

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Libya

The Libyan market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium rose slightly to $X in 2022, with an increase of 2.5% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Consumption of peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Libya

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium expanded modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 30% against the previous year. Over the period under review, production of reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

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

Exports from Libya

In 2018, shipments abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium decreased by 0% to X tons, falling for the second consecutive year after two years of decline. In general, exports showed significant growth. The smallest decline of 99.9% was in 2017. The exports peaked in 2018 and are likely to see gradual growth in the immediate term.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X in 2018. Over the period under review, exports saw a abrupt shrinkage. The smallest decline of 99.9% was in 2017. Over the period under review, the exports of attained the maximum at $X in 2014; however, from 2015 to 2018, the exports failed to regain momentum.

Exports by Country

Morocco (X tons) was the main destination for exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Libya, accounting for a approx. 100% share of total exports.

From 2014 to 2018, the average annual growth rate of volume to Morocco was relatively modest.

From 2014 to 2018, the average annual growth rate of value to Morocco was relatively modest.

Export Prices by Country

In 2018, the average export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, remaining constant against the previous year. In general, the export price recorded a significant contraction. The pace of growth appeared the most rapid in 2017 a decrease of 99.9% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2018, the export prices failed to regain momentum.

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

From 2014 to 2018, the rate of growth in terms of prices for Morocco amounted to 0.0% per year.

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

Imports into Libya

In 2022, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium into Libya reduced dramatically to X tons, falling by -16.8% on 2021. In general, imports recorded a abrupt slump. The growth pace was the most rapid in 2019 with an increase of 463% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium dropped to $X in 2022. Overall, imports recorded a abrupt decrease. The growth pace was the most rapid in 2019 with an increase of 297% against the previous year. Over the period under review, imports of hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Tunisia (X tons) constituted the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium supplier to Libya, with a 58% share of total imports. Moreover, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Tunisia exceeded the figures recorded by the second-largest supplier, Egypt (X tons), sixfold. Turkey (X tons) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume from Tunisia totaled -16.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+0.2% per year) and Turkey (-19.6% per year).

In value terms, Tunisia ($X) constituted the largest supplier of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Libya, comprising 40% of total imports. The second position in the ranking was taken by Egypt ($X), with a 19% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Tunisia stood at -13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+7.7% per year) and Italy (-1.3% per year).

Import Prices by Country

In 2022, the average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, surging by 7.7% against the previous year. Overall, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by +66.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 54%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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