Venezuela: 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 Venezuela

After three years of growth, the Venezuelan non-aqueous paint and varnish market decreased by -21.5% to $X in 2022. Over the period under review, consumption saw a abrupt downturn. Non-aqueous paint and varnish consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

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

Exports from Venezuela

Non-aqueous paint and varnish exports from Venezuela contracted to X tons in 2022, with a decrease of -3.2% on the year before. Overall, exports recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by 158% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, non-aqueous paint and varnish exports soared to $X in 2022. In general, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 173% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for non-aqueous paint and varnish exports from Venezuela, accounting for a 67% share of total exports. Moreover, non-aqueous paint and varnish exports to Colombia exceeded the volume sent to the second major destination, Jamaica (X tons), sixfold. Panama (X tons) ranked third in terms of total exports with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to Colombia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (-10.7% per year) and Panama (+26.1% per year).

In value terms, the largest markets for non-aqueous paint and varnish exported from Venezuela were Colombia ($X), Jamaica ($X) and the United States ($X), with a combined 89% share of total exports.

The United States, with a CAGR of +35.8%, recorded the highest rates of growth with regard to the value of exports, in terms of 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, surging by 22% against the previous year. In general, the export price, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2014 when the average export price increased by 54% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while the average price for exports to Panama ($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 Jamaica (+2.3%), 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 Venezuela

After three years of growth, purchases abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by -22.6% to X tons in 2022. Overall, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 62% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, non-aqueous paint and varnish imports dropped remarkably to $X in 2022. In general, imports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 71% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons), China (X tons) and Colombia (X tons) were the main suppliers of non-aqueous paint and varnish imports to Venezuela, together comprising 55% of total imports. Spain, Mexico, the United States, Italy, France, the UK and Germany lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +0.5%), while imports for the other leaders experienced a decline.

In value terms, Brazil ($X), China ($X) and Colombia ($X) were the largest non-aqueous paint and varnish suppliers to Venezuela, with a combined 51% share of total imports. Spain, the United States, Mexico, Italy, France, the UK and Germany lagged somewhat behind, together comprising a further 24%.

The UK, with a CAGR of -2.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average non-aqueous paint and varnish import price stood at $X per ton in 2022, with an increase of 2.3% against the previous year. Over the period under review, the import price, however, saw a pronounced curtailment. The pace of growth appeared the most rapid in 2013 an increase of 14%. As a result, import price attained the peak level of $X per ton. From 2014 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 Brazil ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :