MENA: 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 MENA

The MENA's non-aqueous paint and varnish market shrank to $X in 2022, reducing by -8.9% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in MENA

In value terms, non-aqueous paint and varnish production dropped remarkably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate prominent growth. The growth pace was the most rapid in 2018 when the production volume increased by 51%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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

Exports in MENA

In 2022, shipments abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium increased by 1.7% to X tons, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by 32%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-aqueous paint and varnish exports rose notably to $X in 2022. The total export value increased at an average annual rate of +6.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 28%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) and the United Arab Emirates (X tons) prevails in exports structure, together committing 74% of total exports. It was distantly followed by Egypt (X tons), mixing up a 9.8% share of total exports. The following exporters - Oman (X tons), Saudi Arabia (X tons), Morocco (X tons) and Lebanon (X tons) - each finished at an 11% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Oman (with a CAGR of +15.9%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Egypt ($X) were the countries with the highest levels of exports in 2022, with a combined 85% share of total exports. Lebanon, Saudi Arabia, Morocco and Oman lagged somewhat behind, together accounting for a further 9.3%.

In terms of the main exporting countries, Oman, with a CAGR of +10.9%, saw 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

In 2022, the export price in MENA amounted to $X per ton, increasing by 5.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2020 an increase of 17%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Oman ($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 (+8.2%), while the other leaders experienced more modest paces of growth.

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

Imports in MENA

After two years of decline, purchases abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium increased by 0.7% to X tons in 2022. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 13% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, non-aqueous paint and varnish imports expanded modestly to $X in 2022. Total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +49.6% against 2016 indices. The growth pace was the most rapid in 2018 when imports increased by 14% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Turkey represented the key importing country with an import of around X tons, which finished at 27% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, followed by Saudi Arabia (X tons), Kuwait (X tons), Iraq (X tons), Algeria (X tons) and Morocco (X tons). All these countries together held approx. 43% share of total imports. Bahrain (X tons), Israel (X tons), Oman (X tons), Qatar (X tons), Iran (X tons) and Egypt (X tons) held a minor share of total imports.

Imports into Turkey increased at an average annual rate of +5.4% from 2012 to 2022. At the same time, Algeria (+9.2%), Saudi Arabia (+8.9%), Iraq (+7.9%), the United Arab Emirates (+5.6%), Kuwait (+5.1%), Morocco (+4.9%), Bahrain (+2.5%), Iran (+1.7%) and Israel (+1.4%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of +9.2% from 2012-2022. Qatar and Oman experienced a relatively flat trend pattern. By contrast, Egypt (-2.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia, Turkey, Iraq, Algeria and the United Arab Emirates increased by +3.7, +3.6, +2, +1.9 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported paints and varnishes dispersed or dissolved in a non-aqueous medium in MENA, comprising 33% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Saudi Arabia, with a 7.4% share.

In Turkey, non-aqueous paint and varnish imports expanded at an average annual rate of +6.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+5.1% per year) and Saudi Arabia (+7.4% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, picking up by 3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 12% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

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 Egypt (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform