MENA: Paint And Varnish Market 2025

Paint And Varnish Market Size in MENA

The MENA's paint and varnish market dropped to $X in 2022, reducing by -6.7% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Paint And Varnish Production in MENA

In value terms, paint and varnish production declined to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 54% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Paint And Varnish Exports

Exports in MENA

Paint and varnish exports contracted notably to X tons in 2022, with a decrease of -25.2% against 2021 figures. Overall, exports continue to indicate a mild slump. The most prominent rate of growth was recorded in 2013 with an increase of 15%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, paint and varnish exports declined to $X in 2022. The total export value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 14% against the previous year. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

Turkey dominates exports structure, finishing at X tons, which was approx. 51% of total exports in 2022. Oman (X tons) ranks second in terms of the total exports with a 9.7% share, followed by the United Arab Emirates (9.6%), Egypt (9.6%) and Saudi Arabia (6.7%). The following exporters - Tunisia (X tons) and Morocco (X tons) - each finished at a 6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to paint and varnish exports from Turkey stood at +2.0%. At the same time, Morocco (+7.4%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in MENA, with a CAGR of +7.4% from 2012-2022. Oman experienced a relatively flat trend pattern. By contrast, Tunisia (-3.6%), Saudi Arabia (-4.1%), Egypt (-4.3%) and the United Arab Emirates (-8.8%) illustrated a downward trend over the same period. While the share of Turkey (+15 p.p.) and Morocco (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (-2.1 p.p.), Egypt (-3.2 p.p.) and the United Arab Emirates (-11.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest paint and varnish supplier in MENA, comprising 47% of total exports. The second position in the ranking was held by Egypt ($X), with a 19% share of total exports. It was followed by the United Arab Emirates, with an 11% share.

In Turkey, paint and varnish exports increased at an average annual rate of +2.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (+3.1% per year) and the United Arab Emirates (-2.1% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, increasing by 20% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. 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 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 Egypt (+7.7%), while the other leaders experienced more modest paces of growth.

Paint And Varnish Imports

Imports in MENA

In 2022, overseas purchases of paints and varnishes decreased by -13.8% to X tons, falling for the third year in a row after four years of growth. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 14%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, paint and varnish imports reached $X in 2022. The total import value increased at an average annual rate of +4.0% 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 2021 when imports increased by 13% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Turkey represented the key importing country with an import of around X tons, which finished at 29% of total imports. It was distantly followed by Saudi Arabia (X tons), the United Arab Emirates (X tons), Iraq (X tons), Qatar (X tons), Algeria (X tons) and Morocco (X tons), together committing a 46% share of total imports. The following importers - Israel (X tons), Bahrain (X tons), Libya (X tons), Iran (X tons), Egypt (X tons) and Oman (X tons) - together made up 19% of total imports.

Imports into Turkey increased at an average annual rate of +5.0% from 2012 to 2022. At the same time, Algeria (+10.4%), Morocco (+7.4%), Qatar (+5.1%), Saudi Arabia (+5.0%), Israel (+2.5%) and Bahrain (+2.4%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of +10.4% from 2012-2022. Iraq, Egypt and the United Arab Emirates experienced a relatively flat trend pattern. By contrast, Iran (-2.4%), Oman (-2.5%) and Libya (-7.3%) illustrated a downward trend over the same period. Turkey (+7.3 p.p.), Algeria (+3.1 p.p.), Saudi Arabia (+2.6 p.p.), Morocco (+2.2 p.p.) and Qatar (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Oman, Iran, the United Arab Emirates and Libya saw its share reduced by -1.5%, -1.7%, -2.4% and -4.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported paints and varnishes in MENA, comprising 33% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Saudi Arabia, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +5.4%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+4.7% per year) and Saudi Arabia (+5.1% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, increasing by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Iraq ($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 (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform