Malaysia: Market for Oil And Water Paints And Varnishes 2025

Market Size for Oil And Water Paints And Varnishes in Malaysia

In 2021, after five years of growth, there was significant decline in the Malaysian market for oil and water paints and varnishes, when its value decreased by -5.8% to $X. In general, consumption saw a mild contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Oil And Water Paints And Varnishes in Malaysia

In value terms, production of oil and water paints and varnishes declined to $X in 2021 estimated in export price. Over the period under review, production recorded a noticeable decline. The pace of growth appeared the most rapid in 2016 with an increase of 24%. Production of peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Oil And Water Paints And Varnishes

Exports from Malaysia

In 2021, exports of oil and water paints and varnishes from Malaysia fell dramatically to X tons, with a decrease of -18.1% on 2020. Over the period under review, exports showed a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of 59% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of oil and water paints and varnishes contracted slightly to $X in 2021. In general, exports saw a noticeable slump. The most prominent rate of growth was recorded in 2017 with an increase of 70%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons), Thailand (X tons) and Cambodia (X tons) were the main destinations of exports of oil and water paints and varnishes from Malaysia, with a combined 46% share of total exports. Singapore, South Africa, China, Indonesia, Myanmar, the Philippines, Kenya, Japan, India and Solomon Islands lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +43.9%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and Vietnam ($X) appeared to be the largest markets for oil and water paints and varnishes exported from Malaysia worldwide, with a combined 57% share of total exports. Cambodia, China, Myanmar, the Philippines, Indonesia, Solomon Islands, Japan, India, Kenya and South Africa lagged somewhat behind, together comprising a further 34%.

India, with a CAGR of +41.6%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for oil and water paints and varnishes amounted to $X per ton, increasing by 16% against the previous year. Over the last nine-year period, it increased at an average annual rate of +5.9%. 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 for the major overseas markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oil And Water Paints And Varnishes

Imports into Malaysia

In 2021, approx. X tons of oil and water paints and varnishes were imported into Malaysia; falling by -13.2% on the year before. Overall, imports recorded a perceptible contraction. The pace of growth was the most pronounced in 2017 when imports increased by 28% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of oil and water paints and varnishes soared to $X in 2021. In general, imports continue to indicate a noticeable downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Vietnam (X tons) and Japan (X tons) were the main suppliers of imports of oil and water paints and varnishes to Malaysia, with a combined 70% share of total imports. Singapore, the United States, New Zealand, Taiwan (Chinese), Germany, Sweden, South Korea, Thailand, Australia and France lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +60.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest oil and water paints and varnishes suppliers to Malaysia were China ($X), Vietnam ($X) and Japan ($X), together comprising 60% of total imports. Singapore, Germany, the United States, New Zealand, Sweden, Taiwan (Chinese), South Korea, Australia, Thailand and France lagged somewhat behind, together comprising a further 31%.

Sweden, with a CAGR of +67.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, increasing by 33% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced descent. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :