United Kingdom: 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 the UK

The UK non-aqueous paint and varnish market reached $X in 2022, approximately reflecting the previous year. In general, consumption, however, saw a relatively flat trend pattern. Non-aqueous paint and varnish consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in the UK

In value terms, non-aqueous paint and varnish production contracted slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 19%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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

Exports from the UK

In 2022, exports of paints and varnishes dispersed or dissolved in a non-aqueous medium from the UK contracted modestly to X tons, with a decrease of -2% on the year before. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 11% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-aqueous paint and varnish exports amounted to $X in 2022. The total export value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 29% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for non-aqueous paint and varnish exports from the UK, with a 19% share of total exports. Moreover, non-aqueous paint and varnish exports to the Netherlands exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was taken by Ireland (X tons), with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+2.5% per year) and Ireland (+0.4% per year).

In value terms, the Netherlands ($X), Germany ($X) and Italy ($X) were the largest markets for non-aqueous paint and varnish exported from the UK worldwide, with a combined 30% share of total exports. Ireland, Turkey, France, the United States, Belgium, Spain, Norway, China, Poland and Chad lagged somewhat behind, together accounting for a further 43%.

Chad, with a CAGR of +110.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, growing by 7.2% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Chad ($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 Turkey (+5.3%), 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 the UK

In 2022, purchases abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by -0.2% to X tons, falling for the fifth consecutive year after two years of growth. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 13% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, non-aqueous paint and varnish imports rose rapidly to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 9.8%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Italy (X tons) and the Netherlands (X tons) were the main suppliers of non-aqueous paint and varnish imports to the UK, with a combined 47% share of total imports. Poland, Switzerland, France, Sweden, Spain, Belgium, the United States, China, Ireland and Turkey lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +38.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and the Netherlands ($X) were the largest non-aqueous paint and varnish suppliers to the UK, together comprising 49% of total imports. The United States, Poland, France, Switzerland, Spain, Belgium, Sweden, China, Ireland and Turkey lagged somewhat behind, together comprising a further 42%.

In terms of the main suppliers, Switzerland, with a CAGR of +25.5%, 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

The average non-aqueous paint and varnish import price stood at $X per ton in 2022, increasing by 9.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2021 when the average import price increased by 20%. The import price peaked in 2022 and is expected to retain growth in years to come.

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 United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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