MENA: 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 MENA

The MENA's market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium declined to $X in 2022, with a decrease of -5.1% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

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

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium declined to $X in 2022 estimated in export price. Overall, production, however, enjoyed a moderate expansion. The pace of growth was the most pronounced in 2019 with an increase of 43%. As a result, production attained the peak level of $X. From 2020 to 2022, production of growth failed to regain momentum.

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

Exports in MENA

In 2022, the amount of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exported in MENA contracted to X tons, flattening at 2021 figures. In general, exports showed a mild downturn. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2012; however, from 2013 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 totaled $X in 2022. Over the period under review, exports saw a noticeable decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 21%. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey represented the main exporting country with an export of around X tons, which recorded 63% of total exports. Saudi Arabia (X tons) held the second position in the ranking, followed by the United Arab Emirates (X tons). All these countries together held approx. 25% share of total exports. Morocco (X tons), Tunisia (X tons), Oman (X tons) and Egypt (X tons) followed a long way behind the leaders.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium. At the same time, Morocco (+11.6%), Oman (+9.4%) and Egypt (+1.6%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in MENA, with a CAGR of +11.6% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-3.8%) and Tunisia (-13.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Morocco increased by +4.9 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium supplier in MENA, comprising 52% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 24% share of total exports. It was followed by the United Arab Emirates, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at -5.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+3.2% per year) and the United Arab Emirates (+4.9% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the export price increased by 7.7%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.3%), while the other leaders experienced more modest paces of growth.

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

Imports in MENA

In 2022, the amount of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium imported in MENA rose slightly to X tons, increasing by 2.1% against the previous year's figure. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 12%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium totaled $X in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 13%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Iraq (X tons), the United Arab Emirates (X tons), Turkey (X tons), Algeria (X tons) and Saudi Arabia (X tons) represented roughly 74% of total imports in 2022. The following importers - Kuwait (X tons), Israel (X tons), Qatar (X tons), Morocco (X tons), Oman (X tons), Libya (X tons) and Bahrain (X tons) - together made up 19% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Algeria (with a CAGR of +20.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Iraq ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 52% of total imports. Saudi Arabia, Algeria, Israel, Qatar, Kuwait, Morocco, Libya, Bahrain and Oman lagged somewhat behind, together comprising a further 39%.

Algeria, with a CAGR of +16.1%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, almost unchanged from the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2013 an increase of 9.7%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Libya (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform