ASEAN: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in ASEAN

The ASEAN market for oil and water paints and varnishes was estimated at $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Oil And Water Paints And Varnishes in ASEAN

In value terms, production of oil and water paints and varnishes expanded markedly 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 indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production of attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Oil And Water Paints And Varnishes

Exports in ASEAN

In 2022, shipments abroad of oil and water paints and varnishes increased by X% to X tons, rising for the third year in a row after five years of decline. In general, exports, however, continue to indicate a noticeable contraction. The growth pace was the most rapid in 2020 when exports increased by X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, exports of oil and water paints and varnishes rose notably to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Singapore (X tons) and Vietnam (X tons) represented the main exporters of oil and water paints and varnishes in ASEAN, together comprising X% of total exports. It was distantly followed by Malaysia (X tons) and Thailand (X tons), together creating an X% share of total exports. Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Vietnam ($X) emerged as the largest oil and water paints and varnishes supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, growing by X% against the previous year. Export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for oil and water paints and varnishes increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

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

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

Imports of Oil And Water Paints And Varnishes

Imports in ASEAN

In 2022, purchases abroad of oil and water paints and varnishes increased by X% to X tons, rising for the second year in a row after three years of decline. The total import volume 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 throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports of reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, imports of oil and water paints and varnishes rose remarkably to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Vietnam (X tons), Singapore (X tons), Thailand (X tons), Indonesia (X tons), the Philippines (X tons) and Malaysia (X tons) represented roughly X% of total imports in 2022. Myanmar (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (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) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Indonesia, the Philippines, Malaysia and Myanmar lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Indonesia, with a CAGR of X%, saw 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, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, leveling off in the following year.

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

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

Source: IndexBox Platform

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