Middle East: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2025

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in the Middle East

The Middle Eastern market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium fell to $X in 2022, declining by -7.3% against the previous year. The total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.4% against 2020 indices. 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, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in the Middle East

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium fell to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a measured expansion. The most prominent rate of growth was recorded in 2019 with an increase of 48% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production of growth remained at a somewhat lower figure.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports in the Middle East

In 2022, after two years of growth, there was decline in overseas shipments of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium, when their volume decreased by -1% to X tons. Overall, exports recorded a mild slump. The most prominent rate of growth was recorded in 2021 when exports increased by 14%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium totaled $X in 2022. In general, exports showed a perceptible reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 21%. Over the period under review, the exports of reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey represented the key exporter of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in the Middle East, with the volume of exports reaching X tons, which was approx. 68% of total exports in 2022. Saudi Arabia (X tons) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (11%). Oman (X tons) took a minor share of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium. At the same time, Oman (+9.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +9.4% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-3.8%) illustrated a downward trend over the same period. While the share of Turkey (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium supplier in the Middle East, comprising 56% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 26% share of total exports. It was followed by the United Arab Emirates, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at -5.2%. In the other countries, the average annual rates were as follows: Saudi Arabia (+3.2% per year) and the United Arab Emirates (+4.9% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, growing by 1.7% against the previous year. Over the period under review, the export price, however, showed a slight decrease. The pace of growth appeared the most rapid in 2014 an increase of 7.5%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.3%), while the other leaders experienced more modest paces of growth.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports in the Middle East

In 2022, supplies from abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by 2.8% to X tons, rising for the second consecutive year after four years of decline. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 9.4% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium rose slightly to $X in 2022. The total import value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 16%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Iraq (X tons), the United Arab Emirates (X tons) and Turkey (X tons) represented the key importer of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in the Middle East, constituting 66% of total import. Saudi Arabia (X tons) held the next position in the ranking, followed by Kuwait (X tons). All these countries together held near 17% share of total imports. Israel (X tons) and Qatar (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +12.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Iraq ($X), with a combined 64% share of total imports. Saudi Arabia, Israel, Qatar and Kuwait lagged somewhat behind, together comprising a further 27%.

In terms of the main importing countries, Israel, with a CAGR of +12.5%, 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 2022, the import price in the Middle East amounted to $X per ton, remaining constant against the previous year. In general, the import price, however, saw a mild increase. The pace of growth appeared the most rapid in 2013 when the import price increased by 8.1%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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