Venezuela: 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 Venezuela

In 2021, the Venezuelan aqueous paint and varnish market increased by 80% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, recorded a abrupt decline. Aqueous paint and varnish consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

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

Exports from Venezuela

In 2021, after three years of decline, there was significant growth in overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium, when their volume increased by 15% to X tons. Over the period under review, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 291%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, aqueous paint and varnish exports rose sharply to $X in 2021. Overall, exports, however, saw a noticeable downturn. The pace of growth was the most pronounced in 2016 with an increase of 210% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Aruba (X tons), the United States (X tons) and Colombia (X tons) were the main destinations of aqueous paint and varnish exports from Venezuela, with a combined 87% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Aruba (with a CAGR of +11.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Aruba ($X), Colombia ($X) and the United States ($X) appeared to be the largest markets for aqueous paint and varnish exported from Venezuela worldwide, with a combined 94% share of total exports.

Among the main countries of destination, Aruba, with a CAGR of +14.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average aqueous paint and varnish export price stood at $X per ton in 2021, falling by -6.9% against the previous year. Over the period under review, the export price, however, saw a temperate expansion. The pace of growth was the most pronounced in 2018 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then dropped in the following year.

Prices varied noticeably country of destination: the country with the highest price was Colombia ($X per ton), while the average price for exports to the Dominican Republic ($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 Colombia (+18.3%), 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 Venezuela

In 2021, purchases abroad of paints and varnishes dispersed or dissolved in an aqueous medium increased by 102% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 126%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, aqueous paint and varnish imports surged to $X in 2021. Over the period under review, imports, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by 151% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Mexico (X tons) and Brazil (X tons) were the main suppliers of aqueous paint and varnish imports to Venezuela, with a combined 87% share of total imports. The Dominican Republic, Colombia and the United States lagged somewhat behind, together accounting for a further 3.1%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Dominican Republic (with a CAGR of +895.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Mexico ($X) and the United States ($X) appeared to be the largest aqueous paint and varnish suppliers to Venezuela, with a combined 79% share of total imports. These countries were followed by Brazil, the Dominican Republic, Colombia and Portugal, which together accounted for a further 6.3%.

In terms of the main suppliers, the Dominican Republic, with a CAGR of +649.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, declining by -21.1% against the previous year. Over the period under review, the import price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 33% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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