Myanmar: 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 Myanmar

The Myanmar's aqueous paint and varnish market skyrocketed to $X in 2021, increasing by 42% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a significant expansion. Aqueous paint and varnish consumption peaked in 2021 and is expected to retain growth in the near future.

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

Exports from Myanmar

In 2021, approx. X tons of paints and varnishes dispersed or dissolved in an aqueous medium were exported from Myanmar; declining by -3.1% compared with the previous year. In general, exports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2013 with an increase of 92%. The exports peaked at X tons in 2020, and then reduced in the following year.

In value terms, aqueous paint and varnish exports fell to $X in 2021. Over the period under review, exports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 135%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore (X tons) was the main destination for aqueous paint and varnish exports from Myanmar, with a 80% share of total exports. Moreover, aqueous paint and varnish exports to Singapore exceeded the volume sent to the second major destination, China (X tons), sevenfold. The third position in this ranking was taken by Vietnam (X kg), with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore totaled +23.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+0.7% per year) and Vietnam (-0.4% per year).

In value terms, Singapore ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from Myanmar, comprising 68% of total exports. The second position in the ranking was held by China ($X), with a 14% share of total exports. It was followed by Vietnam, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Singapore stood at +23.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+7.9% per year) and Vietnam (+4.6% per year).

Export Prices by Country

The average aqueous paint and varnish export price stood at $X per ton in 2021, falling by -6.1% against the previous year. Overall, the export price recorded a slight contraction. The pace of growth appeared the most rapid in 2018 an increase of 72% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while the average price for exports to Singapore ($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 France (+20.9%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Myanmar

In 2021, approx. X tons of paints and varnishes dispersed or dissolved in an aqueous medium were imported into Myanmar; with an increase of 33% compared with the year before. Overall, imports posted significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 167%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, aqueous paint and varnish imports surged to $X in 2021. Over the period under review, imports recorded significant growth. The growth pace was the most rapid in 2013 when imports increased by 153%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Thailand (X tons), Singapore (X tons) and China (X tons) were the main suppliers of aqueous paint and varnish imports to Myanmar, together accounting for 87% of total imports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +46.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Singapore ($X) and China ($X) were the largest aqueous paint and varnish suppliers to Myanmar, with a combined 83% share of total imports.

Thailand, with a CAGR of +34.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average aqueous paint and varnish import price stood at $X per ton in 2021, surging by 10% against the previous year. Over the period under review, the import price, however, recorded a deep setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-8.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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