U.S.: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in the U.S.

In 2021, the U.S. aqueous paint and varnish market decreased by -12% to $X for the first time since 2013, thus ending a seven-year rising trend. Over the period under review, consumption showed a prominent increase. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in the U.S.

In value terms, aqueous paint and varnish production declined dramatically to $X in 2021. Overall, production enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 51% against the previous year. As a result, production attained the peak level of $X, and then declined sharply in the following year.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports from the U.S.

In 2021, overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium decreased by -32.6% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports saw a deep downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 9.8% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, aqueous paint and varnish exports expanded significantly to $X in 2021. The total export value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 10% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Canada (X tons) was the main destination for aqueous paint and varnish exports from the United States, accounting for a 59% share of total exports. Moreover, aqueous paint and varnish exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), threefold. China (X tons) ranked third in terms of total exports with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada amounted to -11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-10.8% per year) and China (-12.3% per year).

In value terms, Canada ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from the United States, comprising 59% of total exports. The second position in the ranking was taken by Mexico ($X), with a 20% share of total exports. It was followed by China, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value to Canada amounted to +2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+6.0% per year) and China (+2.1% per year).

Export Prices by Country

The average aqueous paint and varnish export price stood at $X per ton in 2021, surging by 61% against the previous year. In general, the export price saw a prominent increase. The pace of growth was the most pronounced in 2020 when the average export price increased by 166% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+18.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports into the U.S.

In 2021, overseas purchases of paints and varnishes dispersed or dissolved in an aqueous medium decreased by -0.5% to X tons, falling for the third consecutive year after three years of growth. Overall, imports saw a perceptible reduction. The growth pace was the most rapid in 2018 when imports increased by 14% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, aqueous paint and varnish imports soared to $X in 2021. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Canada (X tons), Mexico (X tons) and Germany (X tons) were the main suppliers of aqueous paint and varnish imports to the United States, together comprising 68% of total imports. Sweden, Italy, the Netherlands, Japan and the UK lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +12.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in an aqueous medium to the United States, comprising 38% of total imports. The second position in the ranking was held by Sweden ($X), with a 14% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Canada stood at +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+11.6% per year) and Germany (+5.9% per year).

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, with an increase of 28% against the previous year. Over the period under review, the import price posted a resilient increase. The pace of growth was the most pronounced in 2020 when the average import price increased by 68% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Sweden ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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