Nepal: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2024

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

The Nepalese market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium soared to $X in 2022, with an increase of 36% 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). In general, consumption saw a significant expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

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

Exports from Nepal

In 2022, the amount of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exported from Nepal reduced to X kg, with a decrease of -10.1% compared with the previous year. In general, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 132%. The exports peaked at X kg in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium shrank markedly to $X in 2022. Over the period under review, exports, however, enjoyed prominent growth. The growth pace was the most rapid in 2014 when exports increased by 99%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

China (X kg) was the main destination for exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Nepal, with a 96% share of total exports. Moreover, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to China exceeded the volume sent to the second major destination, the Czech Republic (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +12.4%.

In value terms, China ($X) and the Czech Republic ($X) were the largest markets for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exported from Nepal worldwide.

China, with a CAGR of +17.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, with a decrease of -11.6% against the previous year. Over the period under review, the export price, however, saw a pronounced increase. The pace of growth was the most pronounced in 2020 an increase of 58% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+7.4%).

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

Imports into Nepal

In 2022, the amount of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium imported into Nepal surged to X tons, rising by 40% against 2021. Over the period under review, imports posted a significant expansion. The growth pace was the most rapid in 2020 with an increase of 380% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium surged to $X in 2022. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 316%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Nepal, accounting for a 74% share of total imports. Moreover, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from India exceeded the figures recorded by the second-largest supplier, Thailand (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at +44.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+45.5% per year) and China (+34.1% per year).

In value terms, India ($X) constituted the largest supplier of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Nepal, comprising 81% of total imports. The second position in the ranking was taken by China ($X), with a 6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from India stood at +48.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+29.7% per year) and Thailand (+35.1% per year).

Import Prices by Country

In 2022, the average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, with a decrease of -3.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2019 when the average import price increased by 17% against the previous year. Over the period under review, average 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 origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform