Report Update Nov 1, 2024

Venezuela - Paints and Varnishes - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Paint And Varnish Market 2024

Paint And Varnish Market Size in Venezuela

In 2022, after two years of growth, there was significant decline in the Venezuelan paint and varnish market, when its value decreased by -8.1% to $X. In general, consumption saw a abrupt shrinkage. 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.

Paint And Varnish Exports

Exports from Venezuela

In 2022, overseas shipments of paints and varnishes increased by 13% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 98%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, paint and varnish exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2016 when exports increased by 143% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for paint and varnish exports from Venezuela, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the Dominican Republic stood at +19.2%.

In value terms, the Dominican Republic ($X) emerged as the key foreign market for paints and varnishes exports from Venezuela.

From 2012 to 2022, the average annual growth rate of value to the Dominican Republic amounted to +9.2%.

Export Prices by Country

In 2022, the average paint and varnish export price amounted to $X per ton, surging by 8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2014 an increase of 46% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the Dominican Republic.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +5.9% per year.

Paint And Varnish Imports

Imports into Venezuela

In 2022, purchases abroad of paints and varnishes decreased by -25% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports faced a deep setback. The pace of growth appeared the most rapid in 2020 when imports increased by 74%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, paint and varnish imports contracted modestly to $X in 2022. Over the period under review, imports showed a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 68%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Brazil (X tons) and Spain (X tons) were the main suppliers of paint and varnish imports to Venezuela, together accounting for 67% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of -4.0%), while imports for the other leaders experienced a decline.

In value terms, the largest paint and varnish suppliers to Venezuela were Brazil ($X), China ($X) and Spain ($X), together comprising 60% of total imports.

Among the main suppliers, China, with a CAGR of +5.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average paint and varnish import price amounted to $X per ton, rising by 31% against the previous year. Overall, the import price, however, recorded a slight contraction. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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 (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for paints and varnishes in the world?

The country with the largest volume of paint and varnish consumption was China, accounting for 32% of total volume. Moreover, paint and varnish consumption in China exceeded the figures recorded by the second-largest consumer, Brazil, threefold. The third position in this ranking was occupied by the United States, with an 8.6% share.

What are the largest producers of paints and varnishes in the world?

China constituted the country with the largest volume of paint and varnish production, comprising approx. 32% of total volume. Moreover, paint and varnish production in China exceeded the figures recorded by the second-largest producer, the United States, threefold. The third position in this ranking was occupied by Brazil, with a 9.1% share.

What are the leading suppliers of paints and varnishes to Venezuela?

In value terms, the largest paint and varnish suppliers to Venezuela were Spain, Italy and the United States, with a combined 77% share of total imports.

What is the average export price for paints and varnishes in Venezuela?

In 2021, the average paint and varnish export price amounted to $3,558 per ton, picking up by 97% against the previous year.

What is the average import price for paints and varnishes in Venezuela?

In 2021, the average paint and varnish import price amounted to $6,451 per ton, rising by 42% against the previous year.

This report provides an in-depth analysis of the paint and varnish market in Venezuela. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20301150 - Paints and varnishes, based on acrylic or vinyl polymers dispersed or dissolved in an aqueous medium (including enamels and lacquers)
Prodcom 20301170 - Other paints, varnishes dispersed or dissolved in an aqueous medium
Prodcom 20301225 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium, weight of the solvent > .50 % of the weight of the solution including enamels and lacquers
Prodcom 20301229 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium including enamels and lacquers excluding weight of the solvent > .50 % of the weight of the solution
Prodcom 20301230 - Paints and varnishes, based on acrylic or vinyl polymers dispersed/dissolved in non-aqueous medium, weight of the solvent > .50 % of the solution weight including enamels and lacquers
Prodcom 20301250 - Other paints and varnishes based on acrylic or vinyl polymers
Prodcom 20301270 - Paints and varnishes: solutions n.e.c.
Prodcom 20301290 - Other paints and varnishes based on synthetic polymers n.e.c.
Prodcom 20302213 - Oil paints and varnishes (including enamels and lacquers)
Prodcom 20302215 - Prepared water pigments for finishing leather, paints and varnishes (including enamels, lacquers and distempers) (excluding of oil)

Country coverage:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023