World - Paints And Varnishes - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPaint and Varnish Market
The global market for paints and varnishes is expected to show a positive consumption trend over the next eight years, with a forecasted CAGR of +3.1% in volume and +5.1% in value from 2022 to 2030. China leads in both consumption and production, while Germany and the United States are key exporters. Import and export volumes are stable, with slight fluctuations in prices. Overall, the market is projected to continue its growth trajectory in the near future.
Market Forecast
Driven by increasing demand for paints and varnishes worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market volume to 57M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +5.1% for the period from 2022 to 2030, which is projected to bring the market value to $229.3B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Paints and Varnishes
In 2022, the amount of paints and varnishes consumed worldwide stood at 45M tons, flattening at the previous year's figure. The total consumption volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, global consumption attained the peak volume at 48M tons in 2017; however, from 2018 to 2022, consumption failed to regain momentum.
The global paint and varnish market size shrank to $154.3B in 2022, therefore, remained relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the global market hit record highs at $159.9B in 2018; however, from 2019 to 2022, consumption failed to regain momentum.
Consumption By Country
China (15M tons) remains the largest paint and varnish consuming country worldwide, accounting for 34% of total volume. Moreover, paint and varnish consumption in China exceeded the figures recorded by the second-largest consumer, Brazil (4.4M tons), threefold. The third position in this ranking was held by the United States (4.4M tons), with a 9.9% share.
From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +3.2%. In the other countries, the average annual rates were as follows: Brazil (+8.8% per year) and the United States (+2.2% per year).
In value terms, China ($48.3B) led the market, alone. The second position in the ranking was taken by the United States ($23.2B). It was followed by Turkey.
From 2012 to 2022, the average annual growth rate of value in China totaled +3.3%. The remaining consuming countries recorded the following average annual rates of market growth: the United States (+2.2% per year) and Turkey (+0.7% per year).
The countries with the highest levels of paint and varnish per capita consumption in 2022 were Canada (33 kg per 1000 persons), South Korea (22 kg per 1000 persons) and Brazil (20 kg per 1000 persons).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Canada (with a CAGR of +10.6%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Paints and Varnishes
In 2022, approx. 45M tons of paints and varnishes were produced worldwide; remaining relatively unchanged against the year before. The total output volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2016 when the production volume increased by 15% against the previous year. Global production peaked at 48M tons in 2017; however, from 2018 to 2022, production remained at a lower figure.
In value terms, paint and varnish production shrank slightly to $152.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by 14% against the previous year. Global production peaked at $188.7B in 2019; however, from 2020 to 2022, production remained at a lower figure.
Production By Country
The country with the largest volume of paint and varnish production was China (15M tons), accounting for 34% of total volume. Moreover, paint and varnish production in China exceeded the figures recorded by the second-largest producer, the United States (4.6M tons), threefold. The third position in this ranking was held by Brazil (4.4M tons), with a 10% share.
In China, paint and varnish production increased at an average annual rate of +3.2% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: the United States (+1.8% per year) and Brazil (+8.8% per year).
Imports
World Imports of Paints and Varnishes
In 2022, global imports of paints and varnishes fell to 5.6M tons, dropping by -3.1% against 2021. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 8%. As a result, imports attained the peak of 5.8M tons, and then declined slightly in the following year.
In value terms, paint and varnish imports expanded modestly to $25.3B in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 18% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in years to come.
Imports By Country
Germany (268K tons), Canada (239K tons), France (238K tons), Belgium (224K tons), Poland (211K tons), the Netherlands (209K tons), Russia (197K tons), China (184K tons), Mexico (166K tons), the UK (163K tons), Spain (155K tons) and Turkey (130K tons) represented roughly 42% of total imports in 2022. Austria (124K tons) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +5.0%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, the largest paint and varnish importing markets worldwide were China ($1.5B), Canada ($1.3B) and Germany ($1.3B), with a combined 16% share of global imports. France, Belgium, Poland, Mexico, the Netherlands, Russia, Spain, the UK, Turkey and Austria lagged somewhat behind, together comprising a further 30%.
Turkey, with a CAGR of +5.4%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
In 2022, the average paint and varnish import price amounted to $4,484 per ton, growing by 5.8% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 9.2%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the near future.
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 China ($8,187 per ton), while Austria ($3,366 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Paints and Varnishes
In 2022, global exports of paints and varnishes amounted to 5.7M tons, remaining stable against the year before. The total export volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 6.6%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, paint and varnish exports expanded slightly to $25.8B in 2022. The total export value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 17% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in years to come.
Exports By Country
In 2022, Germany (827K tons), distantly followed by Italy (417K tons), the United Arab Emirates (311K tons), the Netherlands (301K tons), France (262K tons) and the United States (259K tons) were the main exporters of paints and varnishes, together committing 42% of total exports. The following exporters - the UK (241K tons), China (220K tons), Spain (217K tons), Poland (207K tons), Belgium (206K tons), Sweden (144K tons) and Turkey (135K tons) - together made up 24% of total exports.
From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +17.1%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, Germany ($4.1B), the United States ($2.9B) and Italy ($1.9B) were the countries with the highest levels of exports in 2022, with a combined 34% share of global exports. The Netherlands, Belgium, France, the UK, Spain, China, Poland, Sweden, the United Arab Emirates and Turkey lagged somewhat behind, together comprising a further 33%.
Among the main exporting countries, the United Arab Emirates, with a CAGR of +15.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
The average paint and varnish export price stood at $4,554 per ton in 2022, rising by 1.9% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 9.9%. The global export price peaked in 2022 and is likely to continue growth in the near future.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($11,345 per ton), while the United Arab Emirates ($1,384 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.0%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global paint and varnish market. 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:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Company coverage:
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
This report provides an in-depth analysis of the global paint and varnish market.
This report provides an in-depth analysis of the global market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium.
This report provides an in-depth analysis of the global market for aqueous paint and varnish.
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Explore the top import markets for paint and varnish worldwide, including China, Canada, Germany, and more. Discover key statistics, import values, and growth potential. Leverage the IndexBox market intelligence platform for in-depth analysis and insights.
Global paint and varnish imports amounted to X tons in 2016, standing approx. at the previous year level. Overall, paint and varnish imports continue to indicate a relatively flat trend pattern. ...
Global paint and varnish imports amounted to X tons in 2016, standing approx. at the previous year level. Overall, paint and varnish imports continue to indicate a relatively flat trend pattern. ...