Saudi Arabia: Paint And Varnish Market 2025

Paint And Varnish Market Size in Saudi Arabia

The Saudi paint and varnish market rose notably to $X in 2022, with an increase of 11% against the previous year. In general, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.7% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Paint And Varnish Production in Saudi Arabia

In value terms, paint and varnish production expanded markedly to $X in 2022 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -8.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 54%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Paint And Varnish Exports

Exports from Saudi Arabia

In 2022, paint and varnish exports from Saudi Arabia declined to X tons, with a decrease of -5.6% against the year before. Over the period under review, exports continue to indicate a noticeable decline. The growth pace was the most rapid in 2015 when exports increased by 41%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, paint and varnish exports contracted to $X in 2022. Overall, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +19.3% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 54% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for paint and varnish exports from Saudi Arabia, with a 54% share of total exports. Moreover, paint and varnish exports to the United Arab Emirates exceeded the volume sent to the second major destination, Iraq (X tons), fourfold. Oman (X tons) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+32.4% per year) and Oman (+13.7% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for paints and varnishes exports from Saudi Arabia, comprising 62% of total exports. The second position in the ranking was held by Egypt ($X), with a 7.5% share of total exports. It was followed by Iraq, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+23.0% per year) and Iraq (+35.9% per year).

Export Prices by Country

In 2022, the average paint and varnish export price amounted to $X per ton, shrinking by -8.8% against the previous year. In general, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +7.0% 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 +27.4% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of 33% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Jordan ($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 Kuwait (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Saudi Arabia

In 2022, approx. X tons of paints and varnishes were imported into Saudi Arabia; with an increase of 2.7% compared with 2021 figures. In general, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -2.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 20%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, paint and varnish imports reduced modestly to $X in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.6% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of 25%. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank slightly in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest paint and varnish supplier to Saudi Arabia, accounting for a 31% share of total imports. Moreover, paint and varnish imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Egypt (X tons), twofold. The third position in this ranking was taken by the UK (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+17.9% per year) and the UK (+0.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of paints and varnishes to Saudi Arabia, comprising 30% of total imports. The second position in the ranking was held by the UK ($X), with a 13% share of total imports. It was followed by South Korea, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates totaled +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+2.9% per year) and South Korea (+1.0% per year).

Import Prices by Country

In 2022, the average paint and varnish import price amounted to $X per ton, declining by -4.2% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 19% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained 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 South Korea ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+22.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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