Uruguay: 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 Uruguay

In 2021, the Uruguayan aqueous paint and varnish market decreased by -10.7% to $X for the first time since 2011, thus ending a nine-year rising trend. Overall, consumption, however, recorded resilient growth. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Uruguay

In value terms, aqueous paint and varnish production shrank to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 33% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

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

Exports from Uruguay

For the sixth year in a row, Uruguay recorded decline in overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium, which decreased by -4.3% to X tons in 2021. Overall, exports showed a drastic downturn. The pace of growth was the most pronounced in 2015 when exports increased by 31% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, aqueous paint and varnish exports fell modestly to $X in 2021. In general, exports recorded a deep downturn. The pace of growth was the most pronounced in 2015 with an increase of 23%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Paraguay (X tons) was the main destination for aqueous paint and varnish exports from Uruguay, with a 77% share of total exports. Moreover, aqueous paint and varnish exports to Paraguay exceeded the volume sent to the second major destination, Argentina (X tons), sixfold. Bolivia (X tons) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Paraguay stood at +18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-27.4% per year) and Bolivia (-13.1% per year).

In value terms, Paraguay ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from Uruguay, comprising 68% of total exports. The second position in the ranking was taken by Argentina ($X), with a 16% share of total exports. It was followed by Bolivia, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Paraguay amounted to +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-25.5% per year) and Bolivia (-17.5% per year).

Export Prices by Country

The average aqueous paint and varnish export price stood at $X per ton in 2021, surging by 1.7% against the previous year. In general, the export price, however, saw a slight reduction. The most prominent rate of growth was recorded in 2013 an increase of 6.8% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Brazil ($X per ton), while the average price for exports to Paraguay ($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 Argentina (+2.7%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Uruguay

In 2021, supplies from abroad of paints and varnishes dispersed or dissolved in an aqueous medium increased by 13% to X tons, rising for the fifth consecutive year after four years of decline. In general, total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +109.3% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 26% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +95.3% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 31%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

Brazil (X tons), Argentina (X tons) and the United States (X tons) were the main suppliers of aqueous paint and varnish imports to Uruguay, with a combined 97% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +6.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Argentina ($X), Brazil ($X) and the United States ($X) appeared to be the largest aqueous paint and varnish suppliers to Uruguay, together accounting for 88% of total imports.

Argentina, with a CAGR of +2.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, growing by 7.4% against the previous year. In general, the import price, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2013 when the average import price increased by 7.4% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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