Libya: 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 Libya

The Libyan non-aqueous paint and varnish market declined to $X in 2022, with a decrease of -13.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a deep downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

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

Exports from Libya

In 2022, overseas shipments of paints and varnishes dispersed or dissolved in a non-aqueous medium were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 365%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-aqueous paint and varnish exports totaled $X in 2022. Overall, exports, however, showed a deep slump. The pace of growth appeared the most rapid in 2015 with an increase of 113%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana (X tons) was the main destination for non-aqueous paint and varnish exports from Libya, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Ghana stood at +73.7%.

In value terms, Ghana ($X) also remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Libya.

From 2012 to 2022, the average annual rate of growth in terms of value to Ghana totaled +76.5%.

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, the export price, however, saw a noticeable contraction. The pace of growth appeared the most rapid in 2014 when the average export price increased by 143%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to +1.6% per year.

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

Imports into Libya

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium imported into Libya dropped to X tons, declining by -9.3% compared with 2021 figures. Overall, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2019 with an increase of 118% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, non-aqueous paint and varnish imports shrank to $X in 2022. In general, imports continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2019 with an increase of 116%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Egypt (X tons) constituted the largest non-aqueous paint and varnish supplier to Libya, accounting for a 72% share of total imports. Moreover, non-aqueous paint and varnish imports from Egypt exceeded the figures recorded by the second-largest supplier, Tunisia (X tons), eightfold. The third position in this ranking was held by the UK (X tons), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Egypt stood at -11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Tunisia (-3.1% per year) and the UK (+2.0% per year).

In value terms, Egypt ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Libya, comprising 78% of total imports. The second position in the ranking was held by Tunisia ($X), with a 3.4% share of total imports. It was followed by the Netherlands, with a 3% share.

From 2012 to 2022, the average annual growth rate of value from Egypt totaled -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Tunisia (-4.5% per year) and the Netherlands (-5.7% per year).

Import Prices by Country

In 2022, the average non-aqueous paint and varnish import price amounted to $X per ton, shrinking by -5.1% against the previous year. Overall, the import price, however, recorded strong growth. The growth pace was the most rapid in 2017 when the average import price increased by 32% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+8.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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