Southern Asia: Market for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings 2024

Market Size for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Southern Asia

In 2022, the South Asian market for glaziers putty, grafting putty, other mastics and painters' fillings increased by 1.4% to $X, rising for the fifth consecutive year after four years of decline. The market value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Southern Asia

In value terms, production of glaziers putty, grafting putty, other mastics and painters' fillings reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 11% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production of growth failed to regain momentum.

Exports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Exports in Southern Asia

In 2022, exports of glaziers putty, grafting putty, other mastics and painters' fillings in Southern Asia shrank to X tons, which is down by -11.4% compared with the year before. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 93%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of glaziers putty, grafting putty, other mastics and painters' fillings contracted to $X in 2022. In general, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by 35%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from India (X tons), together amounting to 98% of total export.

India was also the fastest-growing in terms of the glaziers putty, grafting putty, other mastics and painters' fillings exports, with a CAGR of +23.5% from 2012 to 2022. India (+8.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest glaziers, grafting putty and painters' filling supplier in Southern Asia.

In India, exports of glaziers putty, grafting putty, other mastics and painters' fillings increased at an average annual rate of +11.6% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, picking up by 2.4% against the previous year. In general, the export price, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2020 an increase of 22% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -9.6% per year.

Imports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Imports in Southern Asia

In 2022, imports of glaziers putty, grafting putty, other mastics and painters' fillings in Southern Asia stood at X tons, growing by 11% against the year before. Over the period under review, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 43% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, imports of glaziers putty, grafting putty, other mastics and painters' fillings soared to $X in 2022. Overall, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 55%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

India prevails in fillings structure, accounting for X tons, which was near 72% of total imports in 2022. Nepal (X tons) held a 7.7% share (based on physical terms) of total imports, which put it in second place, followed by Bangladesh (7.2%). Maldives (X tons), Sri Lanka (X tons), Pakistan (X tons) and Afghanistan (X tons) held a minor share of total imports.

Imports into India increased at an average annual rate of +14.3% from 2012 to 2022. At the same time, Maldives (+19.7%), Nepal (+17.0%), Bangladesh (+8.0%), Pakistan (+7.1%), Sri Lanka (+5.9%) and Afghanistan (+1.1%) displayed positive paces of growth. Moreover, Maldives emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +19.7% from 2012-2022. India (+8.7 p.p.), Nepal (+2.4 p.p.) and Maldives (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Afghanistan, Sri Lanka and Bangladesh saw its share reduced by -3.7%, -3.7% and -4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported glaziers putty, grafting putty, other mastics and painters' fillings in Southern Asia, comprising 82% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 6% share of total imports. It was followed by Sri Lanka, with a 3.5% share.

In India, imports of glaziers putty, grafting putty, other mastics and painters' fillings increased at an average annual rate of +13.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+13.5% per year) and Sri Lanka (+6.3% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, increasing by 10% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 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 Pakistan ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+5.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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