Uganda: Paint And Varnish Market 2024

Paint And Varnish Market Size in Uganda

The Ugandan paint and varnish market totaled $X in 2022, picking up by 4% against the previous year. Over the period under review, consumption saw a prominent increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Paint And Varnish Production in Uganda

In value terms, paint and varnish production rose to $X in 2022 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 -2.7% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 12%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Paint And Varnish Exports

Exports from Uganda

In 2022, overseas shipments of paints and varnishes decreased by -43.3% to X tons, falling for the third year in a row after two years of growth. In general, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 30%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, paint and varnish exports declined rapidly to $X in 2022. Over the period under review, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 26%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

South Sudan (X tons) was the main destination for paint and varnish exports from Uganda, accounting for a 65% share of total exports. Moreover, paint and varnish exports to South Sudan exceeded the volume sent to the second major destination, Burundi (X tons), threefold. Democratic Republic of the Congo (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Sudan totaled +24.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burundi (-7.9% per year) and Democratic Republic of the Congo (-9.9% per year).

In value terms, South Sudan ($X) remains the key foreign market for paints and varnishes exports from Uganda, comprising 73% of total exports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a 14% share of total exports. It was followed by Burundi, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Sudan amounted to +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (-12.4% per year) and Burundi (-14.8% per year).

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2022, waning by -7% against the previous year. Over the period under review, the export price showed a pronounced reduction. The pace of growth appeared the most rapid in 2019 when the average export price increased by 15%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Sudan ($X per ton), while the average price for exports to Burundi ($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 South Sudan (+1.1%), while the prices for the other major destinations experienced mixed trend patterns.

Paint And Varnish Imports

Imports into Uganda

In 2022, the amount of paints and varnishes imported into Uganda dropped sharply to X tons, falling by -50.6% compared with the previous year. In general, imports showed a pronounced descent. The pace of growth was the most pronounced in 2013 when imports increased by 104%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, paint and varnish imports contracted sharply to $X in 2022. Overall, imports, however, posted a moderate expansion. The growth pace was the most rapid in 2013 when imports increased by 120%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Kenya (X tons), India (X tons) and China (X tons) were the main suppliers of paint and varnish imports to Uganda, together comprising 88% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +11.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest paint and varnish suppliers to Uganda were India ($X), Kenya ($X) and South Africa ($X), with a combined 86% share of total imports.

Among the main suppliers, India, with a CAGR of +29.0%, saw the highest growth rate of 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 paint and varnish import price amounted to $X per ton, increasing by 57% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, paint and varnish import price increased by +63.3% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform