Southern Asia: Polishes For Coachwork Market 2024

Polishes For Coachwork Exports

Exports in Southern Asia

In 2022, approx. X tons of polishes for coachwork were exported in Southern Asia; declining by -50.9% against the previous year's figure. In general, exports recorded a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 340% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, polishes for coachwork exports fell significantly to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 768%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, India (X tons) represented the largest exporter of polishes for coachwork, comprising 68% of total exports. Nepal (X tons) took a 23% share (based on physical terms) of total exports, which put it in second place, followed by Pakistan (5.7%). Sri Lanka (X kg) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to polishes for coachwork exports from India stood at -9.2%. At the same time, Nepal (+17.6%), Sri Lanka (+11.1%) and Pakistan (+7.1%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +17.6% from 2012-2022. Nepal (+23 p.p.), Pakistan (+4.2 p.p.) and Sri Lanka (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -29.9% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest polishes for coachwork supplier in Southern Asia, comprising 78% of total exports. The second position in the ranking was taken by Nepal ($X), with a 12% share of total exports. It was followed by Sri Lanka, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to -1.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Nepal (+19.2% per year) and Sri Lanka (+28.4% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, which is down by -55.9% against the previous year. Over the period under review, the export price, however, recorded resilient growth. The pace of growth was the most pronounced in 2018 when the export price increased by 109% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+15.6%), while the other leaders experienced more modest paces of growth.

Polishes For Coachwork Imports

Imports in Southern Asia

In 2022, purchases abroad of polishes for coachwork increased by 13% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw a perceptible expansion. The growth pace was the most rapid in 2018 when imports increased by 51% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, polishes for coachwork imports expanded notably to $X in 2022. Over the period under review, imports recorded a prominent increase. The growth pace was the most rapid in 2018 with an increase of 49% against the previous year. As a result, imports reached the peak of $X; afterwards, it flattened through to 2022.

Imports by Country

India was the largest importer of polishes for coachwork in Southern Asia, with the volume of imports amounting to X tons, which was approx. 60% of total imports in 2022. It was distantly followed by Bangladesh (X tons), committing a 28% share of total imports. Afghanistan (X tons), Sri Lanka (X tons) and Pakistan (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to polishes for coachwork imports into India stood at +3.1%. At the same time, Bangladesh (+17.0%) and Pakistan (+14.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +17.0% from 2012-2022. Sri Lanka and Afghanistan experienced a relatively flat trend pattern. While the share of Bangladesh (+19 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sri Lanka (-1.8 p.p.), Afghanistan (-2.8 p.p.) and India (-6.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported polishes for coachwork in Southern Asia, comprising 74% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 16% share of total imports. It was followed by Pakistan, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +4.6%. In the other countries, the average annual rates were as follows: Bangladesh (+20.3% per year) and Pakistan (+14.4% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, rising by 1.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2021 when the import price increased by 13% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Pakistan ($X per ton), while Afghanistan ($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 (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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