Uruguay: Paint And Varnish Market 2024

Paint And Varnish Market Size in Uruguay

The Uruguayan paint and varnish market rose to $X in 2022, growing by 3.5% against the previous year. Over the period under review, consumption recorded a remarkable increase. Paint and varnish consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Paint And Varnish Production in Uruguay

In value terms, paint and varnish production totaled $X in 2022 estimated in export price. Over the period under review, production recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 40% against the previous year. Paint and varnish production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Paint And Varnish Exports

Exports from Uruguay

Paint and varnish exports from Uruguay dropped to X tons in 2022, waning by -3.2% against the previous year's figure. Overall, exports recorded a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by 54% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, paint and varnish exports rose markedly to $X in 2022. Over the period under review, exports recorded a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 82%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Paraguay (X tons), Brazil (X tons) and Chile (X tons) were the main destinations of paint and varnish exports from Uruguay, with a combined 64% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Paraguay (with a CAGR of +13.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for paint and varnish exported from Uruguay were Brazil ($X), Chile ($X) and Colombia ($X), with a combined 69% share of total exports.

Colombia, with a CAGR of +12.5%, 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

In 2022, the average paint and varnish export price amounted to $X per ton, rising by 15% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 18%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, 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 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Uruguay

After five years of growth, purchases abroad of paints and varnishes decreased by -0.5% to X tons in 2022. In general, total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 +84.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 20% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then fell in the following year.

In value terms, paint and varnish imports expanded significantly to $X in 2022. The total import value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Brazil (X tons), Argentina (X tons) and China (X tons) were the main suppliers of paint and varnish imports to Uruguay, together accounting for 92% 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 +14.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest paint and varnish suppliers to Uruguay were Argentina ($X), Brazil ($X) and China ($X), together accounting for 82% of total imports.

China, with a CAGR of +14.3%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average paint and varnish import price amounted to $X per ton, rising by 7.4% against the previous year. Overall, the import price, however, continues to indicate a slight decrease. The pace of growth was the most pronounced in 2013 when the average import price increased by 15%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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