Tanzania: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Tanzania

For the third consecutive year, the Tanzanian non-aqueous paint and varnish market recorded decline in sales value, which decreased by -33.2% to $X in 2022. Over the period under review, consumption, however, saw noticeable growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports from Tanzania

Non-aqueous paint and varnish exports from Tanzania skyrocketed to X tons in 2022, jumping by 78% against 2021 figures. In general, exports, however, saw a perceptible setback. The pace of growth was the most pronounced in 2013 with an increase of 108% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, non-aqueous paint and varnish exports soared to $X in 2022. Overall, exports, however, saw a drastic downturn. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Comoros (X tons), Democratic Republic of the Congo (X tons) and Zambia (X tons) were the main destinations of non-aqueous paint and varnish exports from Tanzania, with a combined 86% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Comoros (with a CAGR of +174.2%), while the other leaders experienced mixed trend patterns.

In value terms, Comoros ($X), Democratic Republic of the Congo ($X) and Zambia ($X) were the largest markets for non-aqueous paint and varnish exported from Tanzania worldwide, together comprising 80% of total exports.

In terms of the main countries of destination, Comoros, with a CAGR of +187.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, rising by 28% against the previous year. Over the period under review, the export price, however, saw a perceptible decrease. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports into Tanzania

For the third year in a row, Tanzania recorded decline in purchases abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium, which decreased by -39.2% to X tons in 2022. In general, imports, however, continue to indicate a perceptible increase. The growth pace was the most rapid in 2019 with an increase of 155%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, non-aqueous paint and varnish imports reduced markedly to $X in 2022. Over the period under review, imports, however, continue to indicate noticeable growth. The pace of growth was the most pronounced in 2019 when imports increased by 141% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest non-aqueous paint and varnish supplier to Tanzania, with a 42% share of total imports. Moreover, non-aqueous paint and varnish imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +18.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-5.8% per year) and Italy (+31.2% per year).

In value terms, Italy ($X), China ($X) and South Africa ($X) appeared to be the largest non-aqueous paint and varnish suppliers to Tanzania, with a combined 47% share of total imports. South Korea, the United Arab Emirates, the UK, India, Egypt and Turkey lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, South Korea, with a CAGR of +119.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average non-aqueous paint and varnish import price amounted to $X per ton, rising by 27% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2015 an increase of 30%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform