Vietnam: Market for Paint, Distemper, Varnish Or Similar Brushes, Paint Pads And Rollers 2024

Market Size for Paint, Distemper, Varnish Or Similar Brushes, Paint Pads And Rollers in Vietnam

The Vietnamese market for paint, distemper, varnish or similar brushes, paint pads and rollers reduced modestly to $X in 2021, which is down by -1.5% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt contraction. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Paint, Distemper, Varnish Or Similar Brushes, Paint Pads And Rollers in Vietnam

In value terms, production of paint, distemper, varnish or similar brushes, paint pads and rollers reduced slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a deep slump. The pace of growth appeared the most rapid in 2020 when the production volume increased by 10%. Production of peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Paint, Distemper, Varnish Or Similar Brushes, Paint Pads And Rollers

Exports from Vietnam

After three years of growth, shipments abroad of paint, distemper, varnish or similar brushes, paint pads and rollers decreased by -18.8% to X units in 2021. In general, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 91%. Over the period under review, the exports of reached the maximum at X units in 2020, and then shrank sharply in the following year.

In value terms, exports of paint, distemper, varnish or similar brushes, paint pads and rollers fell notably to $X in 2021. Overall, exports, however, showed a strong expansion. The pace of growth was the most pronounced in 2014 when exports increased by 80%. The exports peaked at $X in 2020, and then fell notably in the following year.

Exports by Country

Canada (X units), Taiwan (Chinese) (X units) and Thailand (X units) were the main destinations of exports of paint, distemper, varnish or similar brushes, paint pads and rollers from Vietnam, with a combined 72% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +29.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for paint, distemper, varnish or similar brush, paint pad and roller exported from Vietnam were Canada ($X), Taiwan (Chinese) ($X) and Thailand ($X), with a combined 72% share of total exports.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of +28.4%, saw the highest growth rate of 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

The average export price for paint, distemper, varnish or similar brushes, paint pads and rollers stood at $X per unit in 2021, with an increase of 4.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2015 an increase of 14%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Australia ($X per unit) and the United States ($X per unit), while the average price for exports to Singapore ($X per unit) and Malaysia ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paint, Distemper, Varnish Or Similar Brushes, Paint Pads And Rollers

Imports into Vietnam

After two years of growth, purchases abroad of paint, distemper, varnish or similar brushes, paint pads and rollers decreased by -13.4% to X units in 2021. Overall, imports, however, posted a strong increase. The growth pace was the most rapid in 2014 with an increase of 98%. Over the period under review, imports of reached the maximum at X units in 2020, and then dropped in the following year.

In value terms, imports of paint, distemper, varnish or similar brushes, paint pads and rollers shrank to $X in 2021. In general, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 116% against the previous year. Over the period under review, imports of reached the maximum at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, China (X units) constituted the largest paint, distemper, varnish or similar brush, paint pad and roller supplier to Vietnam, with a 70% share of total imports. Moreover, imports of paint, distemper, varnish or similar brushes, paint pads and rollers from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), sixfold. Japan (X units) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +31.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+2.7% per year) and Japan (-7.3% per year).

In value terms, China ($X) constituted the largest supplier of paint, distemper, varnish or similar brushes, paint pads and rollers to Vietnam, comprising 70% of total imports. The second position in the ranking was taken by South Korea ($X), with a 12% share of total imports. It was followed by Japan, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +33.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+4.4% per year) and Japan (-5.8% per year).

Import Prices by Country

The average import price for paint, distemper, varnish or similar brushes, paint pads and rollers stood at $X per unit in 2021, rising by 4.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2018 an increase of 26% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per unit) and Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform