SADC: 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 SADC

The SADC aqueous paint and varnish market rose notably to $X in 2021, with an increase of 5.4% against the previous year. The market value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in SADC

In value terms, aqueous paint and varnish production expanded notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 20% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

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

Exports in SADC

For the sixth consecutive year, SADC recorded growth in overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium, which increased by 21% to X tons in 2021. The total export volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 21% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, aqueous paint and varnish exports soared to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +70.8% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from South Africa (X tons), together reaching 97% of total export.

South Africa was also the fastest-growing in terms of the paints and varnishes dispersed or dissolved in an aqueous medium exports, with a CAGR of +2.5% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest aqueous paint and varnish supplier in SADC.

In South Africa, aqueous paint and varnish exports expanded at an average annual rate of +5.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, picking up by 21% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2013 when the export price increased by 26%. The level of export peaked in 2021 and is likely to see steady growth in years to come.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2021, the rate of growth in terms of prices for South Africa amounted to +2.8% per year.

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

Imports in SADC

Aqueous paint and varnish imports rose remarkably to X tons in 2021, picking up by 13% compared with 2020 figures. The total import volume increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 15% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, aqueous paint and varnish imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mozambique (X tons), South Africa (X tons) and Namibia (X tons) represented the key importer of paints and varnishes dispersed or dissolved in an aqueous medium in SADC, comprising 50% of total import. Democratic Republic of the Congo (X tons) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by Tanzania (8.7%), Botswana (7.2%) and Madagascar (4.5%).

From 2012 to 2021, the biggest increases were recorded for Democratic Republic of the Congo (with a CAGR of +22.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported paints and varnishes dispersed or dissolved in an aqueous medium in SADC, comprising 35% of total imports. The second position in the ranking was taken by Namibia ($X), with a 14% share of total imports. It was followed by Mozambique, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa amounted to -1.7%. The remaining importing countries recorded the following average annual rates of imports growth: Namibia (+11.6% per year) and Mozambique (+3.6% per year).

Import Prices by Country

In 2021, the import price in SADC amounted to $X per ton, increasing by 17% against the previous year. In general, the import price, however, saw a noticeable slump. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 South Africa (+1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform