Mexico: 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 Mexico

In 2021, the Mexican aqueous paint and varnish market decreased by -0.4% to $X, falling for the second consecutive year after three years of growth. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

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

In value terms, aqueous paint and varnish production amounted to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2014 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

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

Exports from Mexico

In 2021, overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium were finally on the rise to reach X tons after three years of decline. In general, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, 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.

In value terms, aqueous paint and varnish exports soared to $X in 2021. Over the period under review, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for aqueous paint and varnish exports from Mexico, with a 80% share of total exports. Moreover, aqueous paint and varnish exports to the United States exceeded the volume sent to the second major destination, Guatemala (X tons), ninefold. El Salvador (X tons) ranked third in terms of total exports with a 2.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +23.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+0.2% per year) and El Salvador (-9.5% per year).

In value terms, the United States ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from Mexico, comprising 89% of total exports. The second position in the ranking was held by Guatemala ($X), with a 3.8% share of total exports. It was followed by El Salvador, with a 2.3% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-2.4% per year) and El Salvador (-6.8% per year).

Export Prices by Country

In 2021, the average aqueous paint and varnish export price amounted to $X per ton, with a decrease of -16.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2014 an increase of 33% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then reduced dramatically in the following year.

Prices varied noticeably country of destination: the country with the highest price was Cuba ($X per ton), while the average price for exports to Panama ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (+5.9%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Mexico

In 2021, the amount of paints and varnishes dispersed or dissolved in an aqueous medium imported into Mexico expanded significantly to X tons, growing by 11% compared with the year before. In general, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 18% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, aqueous paint and varnish imports rose significantly to $X in 2021. Overall, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -5.6% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 20%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) was the main supplier of aqueous paint and varnish to Mexico, accounting for a 91% share of total imports. Moreover, aqueous paint and varnish imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+25.7% per year) and Japan (+57.9% per year).

In value terms, the United States ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in an aqueous medium to Mexico, comprising 83% of total imports. The second position in the ranking was held by Germany ($X), with a 7.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+20.9% per year) and Japan (+31.7% per year).

Import Prices by Country

The average aqueous paint and varnish import price stood at $X per ton in 2021, declining by -2.7% against the previous year. Overall, the import price continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2017 an increase of 1.6% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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