South-Eastern Asia: 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 South-Eastern Asia

The Southeast Asian aqueous paint and varnish market stood at $X in 2021, picking up by 3.3% against the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The level of consumption peaked in 2021 and is likely to see gradual growth in the near future.

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

In value terms, aqueous paint and varnish production expanded to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 12%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

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

Exports in South-Eastern Asia

For the fourth consecutive year, South-Eastern Asia recorded growth in overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium, which increased by 9.3% to X tons in 2021. The total export volume increased at an average annual rate of +5.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 15%. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, aqueous paint and varnish exports soared to $X in 2021. The total export value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X tons), Thailand (X tons) and Malaysia (X tons) represented roughly 90% of total exports in 2021. The following exporters - Indonesia (X tons) and Vietnam (X tons) - each resulted at a 7.7% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +14.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest aqueous paint and varnish supplier in South-Eastern Asia, comprising 49% of total exports. The second position in the ranking was held by Thailand ($X), with a 22% share of total exports. It was followed by Malaysia, with a 20% share.

In Singapore, aqueous paint and varnish exports expanded at an average annual rate of +2.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+9.4% per year) and Malaysia (+0.1% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, growing by 13% against the previous year. In general, the export price, however, recorded a noticeable shrinkage. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.7%), while the other leaders experienced a decline in the export price figures.

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

Imports in South-Eastern Asia

After two years of decline, supplies from abroad of paints and varnishes dispersed or dissolved in an aqueous medium increased by 19% to X tons in 2021. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, 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.

In value terms, aqueous paint and varnish imports soared to $X in 2021. The total import 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Vietnam (X tons), distantly followed by Thailand (X tons), Singapore (X tons), Cambodia (X tons), Indonesia (X tons), Malaysia (X tons), the Philippines (X tons) and Myanmar (X tons) represented the key importers of paints and varnishes dispersed or dissolved in an aqueous medium, together mixing up 94% of total imports.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +33.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest aqueous paint and varnish importing markets in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Indonesia ($X), together accounting for 59% of total imports. Singapore, Malaysia, the Philippines, Cambodia and Myanmar lagged somewhat behind, together accounting for a further 37%.

Cambodia, with a CAGR of +26.1%, saw the highest growth rate of the value of imports, in terms of 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 2021, the import price in South-Eastern Asia amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price recorded a noticeable descent. The most prominent rate of growth was recorded in 2020 when the import price increased by 2.4%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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