Uruguay: 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 Uruguay

In 2022, the Uruguayan non-aqueous paint and varnish 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, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

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

In value terms, non-aqueous paint and varnish production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 56%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

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

Exports from Uruguay

In 2022, after two years of growth, there was significant decline in overseas shipments of paints and varnishes dispersed or dissolved in a non-aqueous medium, when their volume decreased by -5.9% to X tons. Overall, exports saw a deep setback. The pace of growth was the most pronounced in 2021 when exports increased by 115%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-aqueous paint and varnish exports rose remarkably to $X in 2022. Over the period under review, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 120%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Chile (X tons), Brazil (X tons) and Colombia (X tons) were the main destinations of non-aqueous paint and varnish exports from Uruguay, with a combined 81% share of total exports. Bolivia, Argentina and Israel lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for Bolivia (with a CAGR of +58.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-aqueous paint and varnish exported from Uruguay were Chile ($X), Brazil ($X) and Colombia ($X), with a combined 80% share of total exports. Bolivia, Argentina and Israel lagged somewhat behind, together accounting for a further 17%.

Bolivia, with a CAGR of +53.4%, saw the highest growth rate of the value of exports, among 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 18% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The export price peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Brazil ($X per ton) and Chile ($X per ton), while the average price for exports to Israel ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Uruguay

In 2022, purchases abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by -10.4% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.9% 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 +48.1% against 2014 indices. The growth pace was the most rapid in 2013 when imports increased by 16% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then contracted in the following year.

In value terms, non-aqueous paint and varnish imports totaled $X in 2022. The total import value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 27% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

Argentina (X tons), Brazil (X tons) and China (X tons) were the main suppliers of non-aqueous paint and varnish imports to Uruguay, together accounting for 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +19.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Argentina ($X) and China ($X) appeared to be the largest non-aqueous paint and varnish suppliers to Uruguay, with a combined 82% share of total imports.

China, with a CAGR of +17.2%, saw the highest rates of growth with regard to 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 non-aqueous paint and varnish import price stood at $X per ton in 2022, with an increase of 17% against the previous year. In general, the import price, however, saw a mild slump. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Italy ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+10.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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