Report Update: May 1, 2024

Guatemala - Paints And Varnishes - Market Analysis, Forecast, Size, Trends And Insights

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Paint and Varnish Price in Guatemala - 2023

Paint and Varnish Price in Guatemala (CIF) - 2023

The average paint and varnish import price stood at $2,681 per ton in October 2023, with a decrease of -2.4% against the previous month. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in June 2023 an increase of 27% month-to-month. As a result, import price attained the peak level of $3,327 per ton. From July 2023 to October 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($3,875 per ton), while the price for Panama ($597 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Nicaragua (-0.0%), while the prices for the other major suppliers experienced a decline.

Paint and Varnish Price in Guatemala (FOB) - 2023

The average paint and varnish export price stood at $1,385 per ton in October 2023, declining by -10.3% against the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 an increase of 23% month-to-month. Over the period under review, the average export prices reached the maximum at $2,063 per ton in July 2023; however, from August 2023 to October 2023, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was the Dominican Republic ($2,431 per ton), while the average price for exports to Panama ($970 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Paint and Varnish Imports in Guatemala

In 2022, after three years of growth, there was significant decline in purchases abroad of paints and varnishes, when their volume decreased by -5.9% to 27K tons. The total import volume increased at an average annual rate of +5.2% from 2019 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 imports increased by 22% against the previous year. As a result, imports reached the peak of 28K tons, and then shrank in the following year.

In value terms, paint and varnish imports amounted to $76M in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +12.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.2% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 32%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Import of Paint and Varnish in Guatemala (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
El Salvador	16.7	15.0	21.4	24.6	13.8%
Costa Rica	10.9	10.5	12.4	13.1	6.3%
United States	9.1	8.3	9.5	11.4	7.8%
Mexico	7.2	7.7	10.5	10.0	11.6%
China	1.1	1.4	2.8	5.9	75.0%
Panama	0.1	0.3	1.7	1.9	166.8%
Nicaragua	0.5	1.0	0.7	1.1	30.1%
Hong Kong SAR	1.7	1.9	2.3	0.1	-61.1%
Others	5.7	4.7	5.9	7.9	11.5%
Total	53.0	50.8	67.2	75.9	12.7%

Top Suppliers of Paint and Varnish to Guatemala in 2022:

Hong Kong SAR (undefinedK tons)
El Salvador (9.9K tons)
Costa Rica (5.3K tons)
United States (3.2K tons)
Mexico (3.0K tons)
China (1.8K tons)
Panama (1.2K tons)
Nicaragua (0.6K tons)

Paint and Varnish Exports in Guatemala

For the fourth consecutive year, Guatemala recorded growth in overseas shipments of paints and varnishes, which increased by 2.2% to 37K tons in 2022. The total export volume increased at an average annual rate of +8.1% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 14%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, paint and varnish exports skyrocketed to $55M in 2022. Overall, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +15.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 18%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Export of Paint and Varnish in Guatemala (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Nicaragua	12.3	14.2	15.6	18.2	14.0%
Honduras	10.4	10.3	12.0	13.5	9.1%
El Salvador	6.9	8.0	9.3	10.1	13.5%
Panama	2.9	3.1	4.8	6.9	33.5%
Dominican Republic	1.2	1.1	1.8	2.8	32.6%
Costa Rica	1.6	2.3	2.3	2.2	11.2%
Others	0.3	0.5	0.9	1.2	58.7%
Total	35.6	39.5	46.8	54.9	15.5%

Top Export Markets for Paint and Varnish from Guatemala in 2022:

Nicaragua (10.8K tons)
El Salvador (8.6K tons)
Honduras (8.0K tons)
Panama (6.3K tons)
Costa Rica (1.4K tons)
Dominican Republic (1.1K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the paint and varnish market in Guatemala. 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:

Guatemala

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Guatemala
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023