Malaysia: 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 Malaysia

The Malaysian market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium rose notably to $X in 2022, surging by 5.6% against the previous year. Overall, consumption, however, recorded a noticeable contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

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

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium expanded sharply to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2020 with an increase of 24% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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

Exports from Malaysia

Exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Malaysia declined sharply to X tons in 2022, falling by -28.7% on 2021. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 55% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium dropped to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 19%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons), Thailand (X tons) and Vietnam (X tons) were the main destinations of exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Malaysia, with a combined 75% share of total exports. Indonesia, Hong Kong SAR, Papua New Guinea, Cambodia, China and India lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Papua New Guinea (with a CAGR of +71.4%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the key foreign market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exports from Malaysia, comprising 45% of total exports. The second position in the ranking was held by Vietnam ($X), with a 19% share of total exports. It was followed by Thailand, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Singapore stood at +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+1.4% per year) and Thailand (-8.8% per year).

Export Prices by Country

In 2022, the average export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, jumping by 29% against the previous year. In general, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by +65.8% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Malaysia

In 2022, after two years of growth, there was significant decline in purchases abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium, when their volume decreased by -11% to X tons. In general, total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +1.9% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 71% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium fell to $X in 2022. Over the period under review, imports saw a noticeable decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 90%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

Singapore (X tons), Japan (X tons) and Thailand (X tons) were the main suppliers of imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Malaysia, together accounting for 44% of total imports. China, Indonesia, the UK, South Korea, Germany, Italy and New Zealand lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +108.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium suppliers to Malaysia were Singapore ($X), Thailand ($X) and Japan ($X), together accounting for 53% of total imports. China, Italy, South Korea, Germany, the UK, Indonesia and New Zealand lagged somewhat behind, together comprising a further 36%.

Among the main suppliers, the UK, with a CAGR of +62.0%, 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 paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, rising by 5.3% against the previous year. Overall, the import price, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2016 an increase of 11%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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