Russian Federation: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in the Russian Federation

In 2021, the Russian aqueous paint and varnish market decreased by -1.8% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% 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 +64.8% against 2016 indices. Over the period under review, the market hit record highs at $X in 2020, and then reduced modestly in the following year.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in the Russian Federation

In value terms, aqueous paint and varnish production contracted modestly to $X in 2021 estimated in export price. Overall, the total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% 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 +81.0% against 2015 indices. The growth pace was the most rapid in 2017 with an increase of 44% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then contracted slightly in the following year.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports from the Russian Federation

In 2021, approx. X tons of paints and varnishes dispersed or dissolved in an aqueous medium were exported from Russia; with an increase of 16% against the previous year. In general, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +97.8% against 2013 indices. The pace of growth was the most pronounced in 2015 with an increase of 26%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, aqueous paint and varnish exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Kazakhstan (X tons), Belarus (X tons) and Ukraine (X tons) were the main destinations of aqueous paint and varnish exports from Russia, with a combined 77% share of total exports. These countries were followed by Mongolia, Armenia, Kyrgyzstan, Georgia, Tajikistan, Moldova and Uzbekistan, which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for Uzbekistan (with a CAGR of +69.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Belarus ($X) and Ukraine ($X) appeared to be the largest markets for aqueous paint and varnish exported from Russia worldwide, together accounting for 78% of total exports. These countries were followed by Kyrgyzstan, Armenia, Mongolia, Uzbekistan, Tajikistan, Georgia and Moldova, which together accounted for a further 18%.

In terms of the main countries of destination, Uzbekistan, with a CAGR of +49.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average aqueous paint and varnish export price stood at $X per ton in 2021, picking up by 24% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2017 when the average export price increased by 31%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Georgia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports into the Russian Federation

In 2021, the amount of paints and varnishes dispersed or dissolved in an aqueous medium imported into Russia rose remarkably to X tons, picking up by 12% against the year before. Overall, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish imports soared to $X in 2021. Over the period under review, total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +66.6% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The UK (X tons), Germany (X tons) and Finland (X tons) were the main suppliers of aqueous paint and varnish imports to Russia, with a combined 46% share of total imports. Belarus, Italy, Poland, France, Sweden, Estonia, the Netherlands, South Korea, the United States and Denmark lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2021, the biggest increases were recorded for Belarus (with a CAGR of +28.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the UK ($X) and Finland ($X) constituted the largest aqueous paint and varnish suppliers to Russia, together accounting for 46% of total imports. Italy, France, Belarus, Poland, Sweden, the Netherlands, the United States, Estonia, South Korea and Denmark lagged somewhat behind, together accounting for a further 40%.

Among the main suppliers, Denmark, with a CAGR of +23.5%, recorded the highest growth rate of 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 average aqueous paint and varnish import price stood at $X per ton in 2021, with an increase of 12% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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