Mexico: 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 Mexico

In 2022, the Mexican non-aqueous paint and varnish market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 9.2% against the previous year. 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 Dispersed Or Dissolved In A Non-Aqueous Medium in Mexico

In value terms, non-aqueous paint and varnish production reached $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 8.7%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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

Exports from Mexico

In 2022, exports of paints and varnishes dispersed or dissolved in a non-aqueous medium from Mexico surged to X tons, growing by 24% on the previous year's figure. Overall, exports, however, recorded a perceptible slump. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, non-aqueous paint and varnish exports skyrocketed to $X in 2022. In general, exports, however, showed a mild contraction. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for non-aqueous paint and varnish exports from Mexico, accounting for a 57% share of total exports. Moreover, non-aqueous paint and varnish exports to the United States exceeded the volume sent to the second major destination, Guatemala (X tons), fourfold. Costa Rica (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+8.3% per year) and Costa Rica (+4.9% per year).

In value terms, the United States ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Mexico, comprising 66% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 10% share of total exports. It was followed by Guatemala, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+7.6% per year) and Guatemala (+8.3% per year).

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, rising by 10% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The pace of growth appeared the most rapid in 2014 an increase of 14%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Belize ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Mexico

After two years of decline, purchases abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium increased by 3.6% to X tons in 2022. In general, total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -26.3% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 30%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, non-aqueous paint and varnish imports soared to $X in 2022. The total import value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest non-aqueous paint and varnish supplier to Mexico, with a 74% share of total imports. Moreover, non-aqueous paint and varnish imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), ninefold. Germany (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.1% per year) and Germany (+6.9% per year).

In value terms, the United States ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Mexico, comprising 77% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.8% share of total imports. It was followed by Italy, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.0% per year) and Italy (+11.0% per year).

Import Prices by Country

In 2022, the average non-aqueous paint and varnish import price amounted to $X per ton, growing by 14% 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 2021 an increase of 29% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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