SADC: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in SADC

In 2021, after two years of growth, there was decline in the SADC market for oil and water paints and varnishes, when its value decreased by -3.9% to $X. Over the period under review, consumption, however, continues to indicate a mild curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Oil And Water Paints And Varnishes in SADC

In value terms, production of oil and water paints and varnishes fell modestly to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 29%. The level of production peaked at $X in 2020, and then reduced slightly in the following year.

Exports of Oil And Water Paints And Varnishes

Exports in SADC

In 2021, shipments abroad of oil and water paints and varnishes was finally on the rise to reach X tons after three years of decline. In general, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2014 when exports increased by 55% against the previous year. As a result, the exports reached the peak of X tons. From 2015 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 declined significantly to $X in 2021. Overall, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 45%. Over the period under review, the exports of hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, South Africa (X tons) represented the main exporter of oil and water paints and varnishes, achieving 53% of total exports. Mauritius (X tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by Tanzania (15%), Zambia (7%) and Madagascar (5.4%). Botswana (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to oil and water paints and varnishes exports from South Africa stood at -10.1%. At the same time, Madagascar (+32.8%) and Tanzania (+5.1%) displayed positive paces of growth. Moreover, Madagascar emerged as the fastest-growing exporter exported in SADC, with a CAGR of +32.8% from 2012-2021. By contrast, Zambia (-4.8%), Mauritius (-5.6%) and Botswana (-15.7%) illustrated a downward trend over the same period. Tanzania (+10 p.p.), Madagascar (+5.2 p.p.), Mauritius (+3.3 p.p.) and Zambia (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Botswana and South Africa saw its share reduced by -2.1% and -12.2% from 2012 to 2021, respectively.

In value terms, the largest oil and water paints and varnishes supplying countries in SADC were South Africa ($X), Mauritius ($X) and Zambia ($X), together comprising 90% of total exports. These countries were followed by Madagascar, Tanzania and Botswana, which together accounted for a further 7.9%.

Among the main exporting countries, Madagascar, with a CAGR of +40.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in SADC stood at $X per ton in 2021, waning by -19.1% against the previous year. Over the period under review, the export price saw a slight slump. The pace of growth appeared the most rapid in 2019 an increase of 61% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2020, and then shrank significantly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Mauritius ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Madagascar (+5.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Oil And Water Paints And Varnishes

Imports in SADC

Imports of oil and water paints and varnishes expanded rapidly to X tons in 2021, picking up by 11% on the year before. Overall, imports, however, continue to indicate a noticeable shrinkage. The growth pace was the most rapid in 2017 with an increase of 36% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, imports of oil and water paints and varnishes rose remarkably to $X in 2021. In general, imports, however, showed a deep reduction. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Democratic Republic of the Congo (X tons) and Tanzania (X tons) were the key importers of oil and water paints and varnishes in 2021, reaching approx. 34% and 28% of total imports, respectively. Angola (X tons) ranks next in terms of the total imports with an 11% share, followed by South Africa (9.8%) and Mozambique (8%). Comoros (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Comoros (with a CAGR of +23.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest oil and water paints and varnishes importing markets in SADC were South Africa ($X), Tanzania ($X) and Democratic Republic of the Congo ($X), together accounting for 75% of total imports. These countries were followed by Angola, Mozambique and Comoros, which together accounted for a further 12%.

Comoros, with a CAGR of +26.6%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 SADC stood at $X per ton in 2021, approximately reflecting the previous year. In general, the import price continues to indicate a mild decline. The most prominent rate of growth was recorded in 2020 when the import price increased by 19%. Over the period under review, import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was South Africa ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tanzania (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform