Venezuela: 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 Venezuela

After three years of growth, the Venezuelan market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium decreased by -0.7% to $X in 2022. Over the period under review, consumption, however, continues to indicate a deep reduction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

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

Exports from Venezuela

In 2022, overseas shipments of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium were finally on the rise to reach X tons after four years of decline. Overall, exports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2016 with an increase of 581% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium shrank slightly to $X in 2022. Over the period under review, exports showed measured growth. The growth pace was the most rapid in 2016 when exports increased by 424%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Aruba (X tons) was the main destination for exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Venezuela, with a 91% share of total exports. Moreover, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Aruba exceeded the volume sent to the second major destination, Colombia (X kg), more than tenfold. The Dominican Republic (X kg) ranked third in terms of total exports with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Aruba totaled +32.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-26.5% per year) and the Dominican Republic (-3.3% per year).

In value terms, Aruba ($X), Colombia ($X) and the United States ($X) constituted the largest markets for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exported from Venezuela worldwide, with a combined 96% share of total exports.

Among the main countries of destination, Aruba, with a CAGR of +32.6%, recorded the highest rates of growth with regard to the value of exports, 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 export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, falling by -3.7% against the previous year. In general, the export price, however, posted a resilient increase. The growth pace was the most rapid in 2018 when the average export price increased by 135%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then fell slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Aruba ($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 Colombia (+47.0%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Venezuela

In 2022, the amount of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium imported into Venezuela totaled X tons, stabilizing at 2021 figures. Over the period under review, imports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of 172% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium declined to $X in 2022. In general, imports, however, showed a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 126% against the previous year. Over the period under review, imports of reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Mexico (X tons) constituted the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium supplier to Venezuela, with a 81% share of total imports. Moreover, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Mexico exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The UK (X tons) ranked third in terms of total imports with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.9% per year) and the UK (+10.3% per year).

In value terms, Mexico ($X) constituted the largest supplier of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Venezuela, comprising 76% of total imports. The second position in the ranking was taken by China ($X), with a 7.8% share of total imports. It was followed by the UK, with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico amounted to +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-11.5% per year) and the UK (-0.3% per year).

Import Prices by Country

In 2022, the average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, with a decrease of -3.6% against the previous year. Over the period under review, the import price continues to indicate a pronounced setback. The pace of growth was the most pronounced in 2017 when the average import price increased by 69%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+0.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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