United Kingdom: Polishes For Coachwork Market 2024

Polishes For Coachwork Market Size in the UK

In 2022, the UK polishes for coachwork market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, recorded a abrupt decline. Polishes for coachwork consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Polishes For Coachwork Production in the UK

In value terms, polishes for coachwork production shrank to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 16%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Polishes For Coachwork Exports

Exports from the UK

In 2022, the amount of polishes for coachwork exported from the UK declined to X tons, waning by -12% on the year before. In general, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2021 with an increase of 17%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, polishes for coachwork exports declined to $X in 2022. Over the period under review, exports recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 24%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Australia (X tons) and Turkey (X tons) were the main destinations of polishes for coachwork exports from the UK, with a combined 26% share of total exports. India, Poland, the United States, Belgium, Malaysia, Ireland, South Africa, Saudi Arabia, the United Arab Emirates and Germany lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +17.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polishes for coachwork exported from the UK were China ($X), the United States ($X) and Australia ($X), together comprising 25% of total exports.

China, with a CAGR of +12.8%, 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

In 2022, the average polishes for coachwork export price amounted to $X per ton, dropping by -2.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2013 an increase of 23%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then reduced in the following year.

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 the United States ($X per ton), while the average price for exports to Belgium ($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 Germany (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Polishes For Coachwork Imports

Imports into the UK

After three years of decline, purchases abroad of polishes for coachwork increased by 61% to X tons in 2022. Over the period under review, imports, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2018 with an increase of 98% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, polishes for coachwork imports fell to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 74% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of polishes for coachwork to the UK, accounting for a 44% share of total imports. Moreover, polishes for coachwork imports from Turkey exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey amounted to +45.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-8.0% per year) and the United States (-11.9% per year).

In value terms, the United States ($X) constituted the largest supplier of polishes for coachwork to the UK, comprising 32% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by Turkey, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.2% per year) and Turkey (+42.9% per year).

Import Prices by Country

In 2022, the average polishes for coachwork import price amounted to $X per ton, dropping by -40.4% against the previous year. In general, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 38% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then shrank dramatically in the following year.

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 ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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