Northern America: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Northern America

In 2021, after four years of growth, there was significant decline in the North American market for oil and water paints and varnishes, when its value decreased by -12.4% to $X. The total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +67.5% against 2016 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Production of Oil And Water Paints And Varnishes in Northern America

In value terms, production of oil and water paints and varnishes reduced to $X in 2021 estimated in export price. The total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +69.0% against 2016 indices. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. As a result, production reached the peak level of $X, and then fell in the following year.

Exports of Oil And Water Paints And Varnishes

Exports in Northern America

After five years of decline, shipments abroad of oil and water paints and varnishes increased by 9.4% to X tons in 2021. In general, exports, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2015 when exports increased by 10% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of oil and water paints and varnishes reached $X in 2021. Over the period under review, exports, however, showed a mild setback. The growth pace was the most rapid in 2014 when exports increased by 9.3% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The United States prevails in varnishes structure, reaching X tons, which was approx. 97% of total exports in 2021. Canada (X tons) held a little share of total exports.

Exports from the United States decreased at an average annual rate of -6.2% from 2012 to 2021. Canada (-5.1%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest oil and water paints and varnishes supplier in Northern America, comprising 98% of total exports. The second position in the ranking was held by Canada ($X), with a 2% share of total exports.

In the United States, exports of oil and water paints and varnishes shrank by an average annual rate of -1.5% over the period from 2012-2021.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, which is down by -5% against the previous year. Export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for oil and water paints and varnishes increased by +68.8% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of 24%. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.0%).

Imports of Oil And Water Paints And Varnishes

Imports in Northern America

After two years of decline, overseas purchases of oil and water paints and varnishes increased by 16% to X tons in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, imports of oil and water paints and varnishes soared to $X in 2021. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports of attained the maximum at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Canada (X tons) was the major importer of oil and water paints and varnishes, comprising 59% of total imports. The United States (X tons) ranks second in terms of the total imports with a 32% share, followed by Greenland (8.3%).

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +1.8%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Canada ($X), the United States ($X) and Greenland ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 99% of total imports.

In terms of the main importing countries, the United States, with a CAGR of +1.9%, recorded the highest rates of growth with regard to 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

The import price in Northern America stood at $X per ton in 2021, with an increase of 1.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2020 when the import price increased by 14%. The level of import peaked in 2021 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2021, the country with the highest price was Canada ($X per ton), while Greenland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+3.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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