Southern Asia: Market for Spray Guns And Similar Appliances 2024

Market Size for Spray Guns And Similar Appliances in Southern Asia

In 2022, after two years of growth, there was decline in the South Asian market for spray guns and similar appliances, when its value decreased by -0.8% to $X. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 -0.9% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Spray Guns And Similar Appliances in Southern Asia

In value terms, spray guns and similar appliances production totaled $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 -0.3% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by 45% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Spray Guns And Similar Appliances

Exports in Southern Asia

In 2022, approx. X units of spray guns and similar appliances were exported in Southern Asia; with an increase of 58% on 2021 figures. Over the period under review, exports recorded a strong expansion. The growth pace was the most rapid in 2016 when exports increased by 116% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, spray guns and similar appliances exports skyrocketed to $X in 2022. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 65% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from India (X units), together amounting to 99% of total export.

India was also the fastest-growing in terms of the spray guns and similar appliances exports, with a CAGR of +5.7% from 2012 to 2022. India (+3.3 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 spray guns and similar appliances supplier in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +5.7%.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, dropping by -19.5% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 22% against the previous year. The level of export peaked at $X per unit in 2021, and then declined significantly in the following year.

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 +0.0% per year.

Imports of Spray Guns And Similar Appliances

Imports in Southern Asia

Spray guns and similar appliances imports declined dramatically to X units in 2022, with a decrease of -18.2% on the previous year's figure. Over the period under review, imports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2018 with an increase of 60% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, spray guns and similar appliances imports fell to $X in 2022. In general, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by 42%. Over the period under review, imports attained the maximum at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, India (X units) represented the key importer of spray guns and similar appliances, committing 62% of total imports. Bangladesh (X units) took the second position in the ranking, followed by Pakistan (X units). All these countries together took near 32% share of total imports. Nepal (X units) and Sri Lanka (X units) took a little share of total imports.

Imports into India increased at an average annual rate of +10.5% from 2012 to 2022. At the same time, Nepal (+28.3%), Bangladesh (+18.3%) and Pakistan (+13.0%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +28.3% from 2012-2022. By contrast, Sri Lanka (-8.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bangladesh, Pakistan and Nepal increased by +8.3, +2.8 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported spray guns and similar appliances in Southern Asia, comprising 69% of total imports. The second position in the ranking was held by Pakistan ($X), with a 14% share of total imports. It was followed by Bangladesh, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in India stood at +12.1%. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+13.8% per year) and Bangladesh (+13.1% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, surging by 13% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 28% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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