Pakistan: Paint And Varnish Market 2024

Paint And Varnish Market Size in Pakistan

In 2022, the Pakistani paint and varnish market increased by 3.8% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption saw a remarkable increase. Paint and varnish consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Paint And Varnish Production in Pakistan

In value terms, paint and varnish production shrank slightly to $X in 2022 estimated in export price. In general, production enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 59%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Paint And Varnish Exports

Exports from Pakistan

In 2022, paint and varnish exports from Pakistan soared to X tons, picking up by 18% on the previous year's figure. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 28%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, paint and varnish exports surged to $X in 2022. In general, exports, however, recorded a deep reduction. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Afghanistan (X tons) was the main destination for paint and varnish exports from Pakistan, accounting for a 94% share of total exports. Moreover, paint and varnish exports to Afghanistan exceeded the volume sent to the second major destination, Qatar (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Afghanistan was relatively modest.

In value terms, Afghanistan ($X) remains the key foreign market for paints and varnishes exports from Pakistan, comprising 94% of total exports. The second position in the ranking was taken by Qatar ($X), with a 5.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Afghanistan amounted to -6.5%.

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2022, surging by 13% against the previous year. Overall, the export price, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2015 when the average export price increased by 21% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Afghanistan ($X per ton), while the average price for exports to Qatar stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Afghanistan (-6.8%).

Paint And Varnish Imports

Imports into Pakistan

Paint and varnish imports into Pakistan surged to X tons in 2022, picking up by 65% against the previous year. In general, imports posted a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, paint and varnish imports surged to $X in 2022. Overall, imports enjoyed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest paint and varnish supplier to Pakistan, accounting for a 37% share of total imports. Moreover, paint and varnish imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+2.7% per year) and Italy (+10.8% per year).

In value terms, China ($X) constituted the largest supplier of paints and varnishes to Pakistan, comprising 35% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+8.9% per year) and Italy (+8.8% per year).

Import Prices by Country

The average paint and varnish import price stood at $X per ton in 2022, declining by -13% against the previous year. Overall, the import price continues to indicate a mild slump. The pace of growth appeared the most rapid in 2021 when the average import price increased by 24% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Taiwan (Chinese) ($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 (+6.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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