Eastern Asia: Paint And Varnish Market 2024

Paint And Varnish Market Size in Eastern Asia

The East Asian paint and varnish market was estimated at $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Paint And Varnish Production in Eastern Asia

In value terms, paint and varnish production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Paint And Varnish Exports

Exports in Eastern Asia

Paint and varnish exports reduced slightly to X tons in 2022, leveling off at 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, paint and varnish exports reduced to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then reduced slightly in the following year.

Exports by Country

China represented the key exporter of paints and varnishes in Eastern Asia, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Japan (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons), together generating a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the largest paint and varnish supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

In Japan, paint and varnish exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, declining by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then fell modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Paint And Varnish Imports

Imports in Eastern Asia

In 2022, the amount of paints and varnishes imported in Eastern Asia declined to X tons, with a decrease of X% on the year before. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, paint and varnish imports declined to $X in 2022. The total import 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 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

China represented the largest importing country with an import of about X tons, which finished at X% of total imports. South Korea (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (X%), Japan (X%) and Taiwan (Chinese) (X%).

China experienced a relatively flat trend pattern with regard to volume of imports of paints and varnishes. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. South Korea and Japan experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported paints and varnishes in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

In China, paint and varnish imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($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 (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform