Malaysia: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Malaysia

The Malaysian aqueous paint and varnish market declined slightly to $X in 2021, with a decrease of -1.6% against the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market attained the peak level at $X in 2020, and then shrank modestly in the following year.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Malaysia

In value terms, aqueous paint and varnish production declined modestly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 24% against the previous year. Aqueous paint and varnish production peaked at $X in 2020, and then shrank in the following year.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports from Malaysia

In 2021, overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium decreased by -13.2% to X tons for the first time since 2017, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 21% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, aqueous paint and varnish exports rose to $X in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by 31% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Singapore (X tons), the Philippines (X tons) and Thailand (X tons) were the main destinations of aqueous paint and varnish exports from Malaysia, with a combined 60% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +37.5%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Vietnam ($X) and the Philippines ($X) constituted the largest markets for aqueous paint and varnish exported from Malaysia worldwide, together comprising 65% of total exports.

In terms of the main countries of destination, the Philippines, with a CAGR of +45.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average aqueous paint and varnish export price stood at $X per ton in 2021, rising by 17% against the previous year. In general, the export price, however, recorded a perceptible curtailment. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Cambodia ($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 the Philippines (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports into Malaysia

In 2021, after two years of decline, there was significant growth in supplies from abroad of paints and varnishes dispersed or dissolved in an aqueous medium, when their volume increased by 35% to X tons. Overall, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X tons), South Korea (X tons) and Singapore (X tons) were the main suppliers of aqueous paint and varnish imports to Malaysia, together comprising 53% of total imports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +73.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest aqueous paint and varnish suppliers to Malaysia were Singapore ($X), South Korea ($X) and China ($X), with a combined 46% share of total imports. Taiwan (Chinese), Japan, Thailand, the UK and Indonesia lagged somewhat behind, together accounting for a further 34%.

Taiwan (Chinese), with a CAGR of +54.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, waning by -3.2% against the previous year. Overall, the import price continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 5.4% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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