MERCOSUR: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in MERCOSUR

In 2021, the MERCOSUR market for oil and water paints and varnishes increased by 9% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a slight setback. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Oil And Water Paints And Varnishes in MERCOSUR

In value terms, production of oil and water paints and varnishes declined to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2020 when the production volume increased by 6.7%. Over the period under review, production of hit record highs at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Oil And Water Paints And Varnishes

Exports in MERCOSUR

In 2021, approx. X tons of oil and water paints and varnishes were exported in MERCOSUR; increasing by 29% compared with 2020 figures. Over the period under review, exports, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 107% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of oil and water paints and varnishes surged to $X in 2021. Overall, exports, however, recorded a slight decrease. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Argentina represented the largest exporter of oil and water paints and varnishes in MERCOSUR, with the volume of exports resulting at X tons, which was approx. 60% of total exports in 2021. Brazil (X tons) held a 17% share (based on physical terms) of total exports, which put it in second place, followed by Peru (6.4%) and Colombia (6.2%). Guyana (X tons), Chile (X tons) and Uruguay (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to oil and water paints and varnishes exports from Argentina stood at +1.6%. At the same time, Guyana (+8.7%) and Peru (+6.8%) displayed positive paces of growth. Moreover, Guyana emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +8.7% from 2012-2021. By contrast, Colombia (-1.8%), Chile (-3.4%), Brazil (-6.5%) and Uruguay (-16.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Argentina, Peru and Guyana increased by +18, +3.5 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest oil and water paints and varnishes supplying countries in MERCOSUR were Argentina ($X), Brazil ($X) and Peru ($X), together comprising 81% of total exports. These countries were followed by Colombia, Guyana, Chile and Uruguay, which together accounted for a further 17%.

Guyana, with a CAGR of +10.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, increasing by 5.9% against the previous year. Export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for oil and water paints and varnishes increased by +21.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 20%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+3.4%), while the other leaders experienced more modest paces of growth.

Imports of Oil And Water Paints And Varnishes

Imports in MERCOSUR

In 2021, after two years of decline, there was significant growth in overseas purchases of oil and water paints and varnishes, when their volume increased by 27% to X tons. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 212% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of oil and water paints and varnishes soared to $X in 2021. Over the period under review, imports, however, continue to indicate a slight slump. The pace of growth appeared the most rapid in 2018 with an increase of 120%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

Chile (X tons), Guyana (X tons), Colombia (X tons) and Brazil (X tons) represented roughly 77% of total imports in 2021. It was distantly followed by Ecuador (X tons), constituting a 6.1% share of total imports. The following importers - Uruguay (X tons) and Peru (X tons) - each reached a 7.9% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Chile (with a CAGR of +9.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest oil and water paints and varnishes importing markets in MERCOSUR were Brazil ($X), Chile ($X) and Colombia ($X), together accounting for 55% of total imports. These countries were followed by Guyana, Ecuador, Peru and Uruguay, which together accounted for a further 33%.

Peru, with a CAGR of +6.7%, recorded the highest rates of growth with regard to the value of imports, among 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 2021, the import price in MERCOSUR amounted to $X per ton, with an increase of 7.5% against the previous year. Over the period under review, the import price, however, recorded a slight decline. The pace of growth was the most pronounced in 2019 an increase of 29% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Peru ($X per ton), while Guyana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform