Paraguay: Paint And Varnish Market 2024

Paint And Varnish Market Size in Paraguay

In 2022, the Paraguayan paint and varnish market increased by 11% to $X, rising for the second year in a row after five years of decline. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Paint and varnish consumption peaked in 2022 and is likely to see steady growth in the near future.

Paint And Varnish Exports

Exports from Paraguay

In 2022, overseas shipments of paints and varnishes increased by 108% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports, however, saw a abrupt shrinkage. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, paint and varnish exports soared to $X in 2022. Overall, exports, however, showed a perceptible decrease. The pace of growth appeared the most rapid in 2017 when exports increased by 132% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Uruguay (X tons), the United States (X tons) and Brazil (X tons) were the main destinations of paint and varnish exports from Paraguay, together accounting for 93% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +55.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for paint and varnish exported from Paraguay were the United States ($X), Uruguay ($X) and Brazil ($X), together comprising 90% of total exports.

Uruguay, with a CAGR of +20.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average paint and varnish export price amounted to $X per ton, increasing by 4.9% against the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, paint and varnish export price increased by +64.4% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 60% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Paraguay

Paint and varnish imports into Paraguay dropped to X tons in 2022, almost unchanged from the year before. The total import volume increased at an average annual rate of +4.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 32%. Imports peaked at X tons in 2021, and then fell slightly in the following year.

In value terms, paint and varnish imports rose notably to $X in 2022. The total import value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) was the main paint and varnish supplier to Paraguay, with a 91% share of total imports. Moreover, paint and varnish imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil totaled +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-0.6% per year) and Uruguay (+13.9% per year).

In value terms, Brazil ($X) constituted the largest supplier of paints and varnishes to Paraguay, comprising 84% of total imports. The second position in the ranking was taken by Argentina ($X), with a 6.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil amounted to +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-0.4% per year) and Uruguay (+11.2% per year).

Import Prices by Country

In 2022, the average paint and varnish import price amounted to $X per ton, rising by 15% against the previous year. In general, the import price, however, recorded a slight decrease. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform