MENA: 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 MENA

After two years of growth, the MENA's aqueous paint and varnish market decreased by -3% to $X in 2021. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

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

In value terms, aqueous paint and varnish production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 20% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

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

Exports in MENA

Aqueous paint and varnish exports skyrocketed to X tons in 2021, surging by 35% on 2020 figures. The total export volume increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish exports soared to $X in 2021. The total export value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the key exporter of paints and varnishes dispersed or dissolved in an aqueous medium in MENA, with the volume of exports reaching X tons, which was approx. 52% of total exports in 2021. Oman (X tons) ranks second in terms of the total exports with a 19% share, followed by the United Arab Emirates (15%) and Saudi Arabia (6%). Egypt (X tons) took a little share of total exports.

Exports from Turkey increased at an average annual rate of +5.9% from 2012 to 2021. At the same time, Oman (+13.9%) and the United Arab Emirates (+3.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +13.9% from 2012-2021. By contrast, Egypt (-3.7%) and Saudi Arabia (-4.7%) illustrated a downward trend over the same period. Oman (+11 p.p.) and Turkey (+7.5 p.p.) significantly strengthened its position in terms of the total exports, while Egypt and Saudi Arabia saw its share reduced by -2.5% and -7.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest aqueous paint and varnish supplier in MENA, comprising 49% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 12% share of total exports. It was followed by the United Arab Emirates, with a 12% share.

In Turkey, aqueous paint and varnish exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+3.1% per year) and the United Arab Emirates (+6.5% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, with an increase of 3.7% against the previous year. In general, the export price, however, showed a slight decrease. The growth pace was the most rapid in 2015 when the export price increased by 11% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+16.3%), while the other leaders experienced more modest paces of growth.

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

Imports in MENA

In 2021, the amount of paints and varnishes dispersed or dissolved in an aqueous medium imported in MENA expanded remarkably to X tons, picking up by 6.9% compared with the previous year. The total import volume increased at an average annual rate of +4.2% over the period 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 2017 with an increase of 12% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, aqueous paint and varnish imports soared to $X in 2021. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of aqueous paint and varnish imports in 2021 were Turkey (X tons), Qatar (X tons), the United Arab Emirates (X tons) and Iraq (X tons), together resulting at 60% of total import. Oman (X tons) ranks next in terms of the total imports with a 6.4% share, followed by Algeria (5.6%) and Saudi Arabia (5.1%). Iran (X tons), Morocco (X tons), Libya (X tons), Israel (X tons), Kuwait (X tons) and Jordan (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +24.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest aqueous paint and varnish importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Qatar ($X), with a combined 49% share of total imports. These countries were followed by Morocco, Saudi Arabia, Iraq, Algeria, Oman, Iran, Israel, Libya, Kuwait and Jordan, which together accounted for a further 43%.

In terms of the main importing countries, Oman, with a CAGR of +17.4%, saw the highest growth rate of 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

In 2021, the import price in MENA amounted to $X per ton, surging by 12% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Morocco ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Libya (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform