United Arab Emirates: 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 United Arab Emirates

The aqueous paint and varnish market in the United Arab Emirates amounted to $X in 2021, with an increase of 1.7% against the previous year. Over the period under review, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +13.3% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in the United Arab Emirates

In value terms, aqueous paint and varnish production fell to $X in 2021 estimated in export price. In general, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.1% 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 +10.9% against 2019 indices. The growth pace was the most rapid in 2013 when the production volume increased by 33% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

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

Exports from the United Arab Emirates

In 2021, overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium increased by 1.5% to X tons, rising for the second year in a row after three years of decline. Overall, exports posted moderate growth. The pace of growth was the most pronounced in 2013 with an increase of 114%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, aqueous paint and varnish exports shrank to $X in 2021. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +17.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 54%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X tons) was the main destination for aqueous paint and varnish exports from the United Arab Emirates, accounting for a 42% share of total exports. Moreover, aqueous paint and varnish exports to Oman exceeded the volume sent to the second major destination, Senegal (X tons), fourfold. The third position in this ranking was taken by Gambia (X tons), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to Oman amounted to +22.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (+45.7% per year) and Gambia (+109.6% per year).

In value terms, Oman ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from the United Arab Emirates, comprising 57% of total exports. The second position in the ranking was held by India ($X), with a 9.9% share of total exports. It was followed by Saudi Arabia, with a 3% share.

From 2012 to 2021, the average annual growth rate of value to Oman stood at +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+21.3% per year) and Saudi Arabia (+20.5% per year).

Export Prices by Country

The average aqueous paint and varnish export price stood at $X per ton in 2021, dropping by -4.1% against the previous year. Overall, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aqueous paint and varnish export price decreased by -8.6% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 41%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Gambia ($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 Qatar (+10.6%), 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 United Arab Emirates

In 2021, supplies from abroad of paints and varnishes dispersed or dissolved in an aqueous medium was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, aqueous paint and varnish imports skyrocketed to $X in 2021. In general, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. 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

In 2021, Saudi Arabia (X tons) constituted the largest supplier of aqueous paint and varnish to the United Arab Emirates, with a 33% share of total imports. Moreover, aqueous paint and varnish imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. France (X tons) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia amounted to -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+10.8% per year) and France (+0.3% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in an aqueous medium to the United Arab Emirates, comprising 42% of total imports. The second position in the ranking was taken by the UK ($X), with an 8.4% share of total imports. It was followed by the United States, with a 5% share.

From 2012 to 2021, the average annual growth rate of value from Saudi Arabia stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+6.6% per year) and the United States (-5.1% 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 5.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.0%. The pace of growth was the most pronounced in 2015 when the average import price increased by 13%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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