Uruguay: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2024

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Uruguay

In 2022, the Uruguayan market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by 15% to $X, rising for the sixth consecutive year after three years of decline. Over the period under review, consumption showed buoyant growth. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports from Uruguay

After six years of decline, shipments abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by 0.6% to X tons in 2022. Overall, exports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 35%. Over the period under review, the exports of reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X in 2022. Over the period under review, exports, however, faced a abrupt setback. The pace of growth appeared the most rapid in 2015 with an increase of 32% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Paraguay (X tons) was the main destination for exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Uruguay, accounting for a 74% share of total exports. Moreover, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Paraguay exceeded the volume sent to the second major destination, Argentina (X tons), fivefold. Brazil (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Paraguay stood at +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-23.3% per year) and Brazil (-9.0% per year).

In value terms, Paraguay ($X) remains the key foreign market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exports from Uruguay, comprising 66% of total exports. The second position in the ranking was held by Brazil ($X), with a 17% share of total exports. It was followed by Argentina, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Paraguay totaled +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-3.8% per year) and Argentina (-23.7% per year).

Export Prices by Country

The average export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, growing by 11% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Brazil ($X per ton), while the average price for exports to Bolivia ($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 Brazil (+5.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports into Uruguay

In 2022, overseas purchases of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by 8.2% to X tons, rising for the sixth consecutive year after four years of decline. Over the period under review, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +129.4% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 27%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium soared to $X in 2022. Overall, total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +129.4% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 36%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Brazil (X tons), Argentina (X tons) and Mexico (X tons) were the main suppliers of imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Uruguay, together accounting for 97% of total imports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +14.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Brazil ($X) and Mexico ($X) were the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium suppliers to Uruguay, with a combined 92% share of total imports.

Mexico, with a CAGR of +6.6%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, with an increase of 6.6% against the previous year. Over the period under review, the import price, however, recorded a mild shrinkage. The growth pace was the most rapid in 2013 an increase of 7.6% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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