Uzbekistan: Paint And Varnish Market 2024

Paint And Varnish Market Size in Uzbekistan

The Uzbek paint and varnish market expanded to $X in 2022, growing by 2.7% against the previous year. Over the period under review, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +19.6% against 2017 indices. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Paint And Varnish Production in Uzbekistan

In value terms, paint and varnish production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% 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 2015 when the production volume increased by 28% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Paint And Varnish Exports

Exports from Uzbekistan

After two years of decline, overseas shipments of paints and varnishes increased by 37% to X tons in 2022. Over the period under review, total exports indicated resilient growth from 2017 to 2022: its volume increased at an average annual rate of +14.2% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 44% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, paint and varnish exports soared to $X in 2022. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 61% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Turkmenistan (X tons), Tajikistan (X tons) and Kyrgyzstan (X tons) were the main destinations of paint and varnish exports from Uzbekistan, with a combined 98% share of total exports.

From 2017 to 2022, the biggest increases were recorded for Tajikistan (with a CAGR of +3.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Tajikistan ($X) remains the key foreign market for paints and varnishes exports from Uzbekistan, comprising 53% of total exports. The second position in the ranking was taken by Turkmenistan ($X), with a 22% share of total exports. It was followed by Kyrgyzstan, with a 14% share.

From 2017 to 2022, the average annual rate of growth in terms of value to Tajikistan stood at +41.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkmenistan (0.0% per year) and Kyrgyzstan (+1.5% per year).

Export Prices by Country

In 2022, the average paint and varnish export price amounted to $X per ton, with a decrease of -4.1% against the previous year. In general, the export price, however, recorded resilient growth. The most prominent rate of growth was recorded in 2021 an increase of 67% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Turkmenistan ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Azerbaijan (+111.0%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Uzbekistan

In 2022, the amount of paints and varnishes imported into Uzbekistan skyrocketed to X tons, jumping by 29% on 2021. Over the period under review, imports posted a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 53%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, paint and varnish imports soared to $X in 2022. In general, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), Russia (X tons) and China (X tons) were the main suppliers of paint and varnish imports to Uzbekistan, together accounting for 76% of total imports. South Korea, Slovenia, Belarus, Kazakhstan and Azerbaijan lagged somewhat behind, together comprising a further 16%.

From 2017 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +70.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constituted the largest supplier of paints and varnishes to Uzbekistan, comprising 46% of total imports. The second position in the ranking was taken by Turkey ($X), with a 17% share of total imports. It was followed by Slovenia, with a 6.8% share.

From 2017 to 2022, the average annual rate of growth in terms of value from Russia totaled +69.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+15.9% per year) and Slovenia (+60.8% per year).

Import Prices by Country

In 2022, the average paint and varnish import price amounted to $X per ton, growing by 16% against the previous year. Overall, import price indicated strong growth from 2017 to 2022: its price increased at an average annual rate of +6.4% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, paint and varnish import price increased by +55.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 23%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the near future.

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

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+30.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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