ASEAN: Paint And Varnish Market 2024

Paint And Varnish Market Size in ASEAN

The ASEAN paint and varnish market contracted to $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Paint And Varnish Production in ASEAN

In value terms, paint and varnish production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Paint And Varnish Exports

Exports in ASEAN

In 2022, after two years of growth, there was decline in overseas shipments of paints and varnishes, when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, leveling off in the following year.

In value terms, paint and varnish exports amounted to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

In 2022, Malaysia (X tons), Thailand (X tons) and Singapore (X tons) was the main exporter of paints and varnishes in ASEAN, achieving X% of total export. Indonesia (X tons) ranks next in terms of the total exports with a X% share, followed by Vietnam (X%).

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest paint and varnish supplying countries in ASEAN were Malaysia ($X), Singapore ($X) and Thailand ($X), together accounting for X% of total exports. Vietnam and Indonesia lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Paint And Varnish Imports

Imports in ASEAN

In 2022, approx. X tons of paints and varnishes were imported in ASEAN; dropping by X% against the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then reduced modestly in the following year.

In value terms, paint and varnish imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Vietnam (X tons), distantly followed by Thailand (X tons), Singapore (X tons), Indonesia (X tons), Malaysia (X tons), the Philippines (X tons) and Cambodia (X tons) represented the largest importers of paints and varnishes, together generating X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Indonesia, Malaysia, the Philippines and Cambodia lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Cambodia, with a CAGR of X%, 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

The import price in ASEAN stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform