South-Eastern Asia: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in South-Eastern Asia

The Southeast Asian non-aqueous paint and varnish market declined slightly to $X in 2022, falling by -2.7% against the previous year. Over the period under review, consumption saw a mild shrinkage. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in South-Eastern Asia

In value terms, non-aqueous paint and varnish production dropped slightly to $X in 2022 estimated in export price. In general, production saw a pronounced slump. The growth pace was the most rapid in 2021 with an increase of 9.7%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports in South-Eastern Asia

In 2022, after two years of growth, there was decline in shipments abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium, when their volume decreased by -3.3% to X tons. The total export volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 7.4% against the previous year. The volume of export peaked at X tons in 2021, and then shrank in the following year.

In value terms, non-aqueous paint and varnish exports reached $X in 2022. The total export value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

In 2022, Malaysia (X tons) represented the largest exporter of paints and varnishes dispersed or dissolved in a non-aqueous medium, creating 41% of total exports. Thailand (X tons) ranks second in terms of the total exports with a 25% share, followed by Singapore (15%), Indonesia (12%) and Vietnam (6.9%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +17.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest non-aqueous paint and varnish supplying countries in South-Eastern Asia were Malaysia ($X), Singapore ($X) and Thailand ($X), together comprising 82% of total exports. Indonesia and Vietnam lagged somewhat behind, together accounting for a further 17%.

In terms of the main exporting countries, Vietnam, with a CAGR of +15.0%, recorded the highest rates of growth with regard to 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 export price in South-Eastern Asia stood at $X per ton in 2022, with an increase of 4.3% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 12% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.5%), while the other leaders experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports in South-Eastern Asia

In 2022, after six years of growth, there was decline in supplies from abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium, when their volume decreased by -2.7% to X tons. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 10%. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, non-aqueous paint and varnish imports reached $X in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 17% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

In 2022, Vietnam (X tons), distantly followed by Singapore (X tons), Thailand (X tons), Indonesia (X tons), the Philippines (X tons) and Malaysia (X tons) were the main importers of paints and varnishes dispersed or dissolved in a non-aqueous medium, together comprising 92% of total imports. Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cambodia (with a CAGR of +12.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, together accounting for 64% of total imports. Indonesia, Malaysia, the Philippines and Cambodia lagged somewhat behind, together comprising a further 34%.

Cambodia, with a CAGR of +10.2%, saw 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

In 2022, the import price in South-Eastern Asia amounted to $X per ton, increasing by 4.6% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 8.9% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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