Sri Lanka: Market for Paint, Distemper, Varnish Or Similar Brushes, Paint Pads And Rollers 2024

Market Size for Paint, Distemper, Varnish Or Similar Brushes, Paint Pads And Rollers in Sri Lanka

The Sri Lankan market for paint, distemper, varnish or similar brushes, paint pads and rollers fell slightly to $X in 2021, waning by -3.7% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Production of Paint, Distemper, Varnish Or Similar Brushes, Paint Pads And Rollers in Sri Lanka

In value terms, production of paint, distemper, varnish or similar brushes, paint pads and rollers declined to $X in 2021 estimated in export price. Over the period under review, the total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +5.8% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 53%. As a result, production attained the peak level of $X. From 2016 to 2021, production of growth remained at a somewhat lower figure.

Exports of Paint, Distemper, Varnish Or Similar Brushes, Paint Pads And Rollers

Exports from Sri Lanka

For the third year in a row, Sri Lanka recorded decline in shipments abroad of paint, distemper, varnish or similar brushes, paint pads and rollers, which decreased by -2.7% to X units in 2021. Overall, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 72% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of paint, distemper, varnish or similar brushes, paint pads and rollers fell to $X in 2021. Over the period under review, exports saw a mild descent. The pace of growth appeared the most rapid in 2015 when exports increased by 102% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The United States (X units), the UK (X units) and Malaysia (X units) were the main destinations of exports of paint, distemper, varnish or similar brushes, paint pads and rollers from Sri Lanka, together accounting for 68% of total exports. These countries were followed by Mexico, Canada, Australia, the Netherlands, Maldives and Ireland, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +71.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and Mexico ($X) were the largest markets for paint, distemper, varnish or similar brush, paint pad and roller exported from Sri Lanka worldwide, with a combined 77% share of total exports. These countries were followed by Canada, Maldives, Malaysia, the Netherlands, Australia and Ireland, which together accounted for a further 12%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +51.8%, recorded the highest growth rate of 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 average export price for paint, distemper, varnish or similar brushes, paint pads and rollers stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. In general, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for paint, distemper, varnish or similar brushes, paint pads and rollers increased by +55.7% against 2014 indices. The growth pace was the most rapid in 2018 an increase of 19% against the previous year. The export price peaked at $X per unit in 2020, and then declined in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Ireland ($X per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paint, Distemper, Varnish Or Similar Brushes, Paint Pads And Rollers

Imports into Sri Lanka

In 2021, overseas purchases of paint, distemper, varnish or similar brushes, paint pads and rollers increased by 87% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a abrupt descent. The pace of growth was the most pronounced in 2014 when imports increased by 96%. Over the period under review, imports of reached the peak figure at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, imports of paint, distemper, varnish or similar brushes, paint pads and rollers skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a mild decrease. The growth pace was the most rapid in 2014 when imports increased by 96% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest paint, distemper, varnish or similar brush, paint pad and roller supplier to Sri Lanka, accounting for a 64% share of total imports. Moreover, imports of paint, distemper, varnish or similar brushes, paint pads and rollers from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), fivefold. The third position in this ranking was held by Japan (X units), with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+1.0% per year) and Japan (+56.4% per year).

In value terms, China ($X) constituted the largest supplier of paint, distemper, varnish or similar brushes, paint pads and rollers to Sri Lanka, comprising 53% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 15% share of total imports. It was followed by Japan, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+10.5% per year) and Japan (+52.1% per year).

Import Prices by Country

The average import price for paint, distemper, varnish or similar brushes, paint pads and rollers stood at $X per unit in 2021, increasing by 2% against the previous year. Over the last nine years, it increased at an average annual rate of +4.5%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 43% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+33.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform