Northern America: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Northern America

The North American non-aqueous paint and varnish market rose markedly to $X in 2022, surging by 8.2% against the previous year. Over the period under review, consumption continues to indicate a prominent increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Northern America

In value terms, non-aqueous paint and varnish production totaled $X in 2022 estimated in export price. In general, production saw a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 59%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports in Northern America

In 2022, shipments abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium was finally on the rise to reach X tons after three years of decline. In general, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 when exports increased by 8.1%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, non-aqueous paint and varnish exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat 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 was the largest exporting country with an export of about X tons, which recorded 69% of total exports. It was distantly followed by Canada (X tons), constituting a 31% share of total exports.

Exports from the United States decreased at an average annual rate of -9.0% from 2012 to 2022. Canada (-2.1%) illustrated a downward trend over the same period. Canada (+13 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -13.2% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest non-aqueous paint and varnish supplier in Northern America, comprising 86% of total exports. The second position in the ranking was held by Canada ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +2.9%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, picking up by 18% against the previous year. Overall, the export price saw a buoyant expansion. The pace of growth was the most pronounced in 2020 when the export price increased by 55% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+13.1%).

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports in Northern America

In 2022, approx. X tons of paints and varnishes dispersed or dissolved in a non-aqueous medium were imported in Northern America; waning by -1.9% against 2021 figures. Over the period under review, imports recorded a perceptible setback. The pace of growth appeared the most rapid in 2021 with an increase of 8.2% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, non-aqueous paint and varnish imports rose markedly to $X in 2022. The total import value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Canada (X tons) and the United States (X tons) represented roughly 100% of total imports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the United States (with a CAGR of -2.1%).

In value terms, the largest non-aqueous paint and varnish importing markets in Northern America were the United States ($X) and Canada ($X).

Among the main importing countries, the United States, with a CAGR of +4.8%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, with an increase of 13% against the previous year. Import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-aqueous paint and varnish import price increased by +72.5% against 2012 indices. The most prominent rate of growth was recorded in 2020 an increase of 16%. The level of import peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.1%).

Source: IndexBox Platform

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