Report Update: Apr 1, 2024

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

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Paint and Varnish Price in Azerbaijan - 2023

Paint and Varnish Price in Azerbaijan (CIF) - 2022

In 2022, the average paint and varnish import price amounted to $3,168 per ton, remaining relatively unchanged against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by 30% against the previous year. Over the period under review, average import prices attained the peak figure at $3,833 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($5,474 per ton), while the price for Iran ($1,430 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Paint and Varnish Price in Azerbaijan (FOB) - 2022

The average paint and varnish export price stood at $1,147 per ton in 2022, surging by 14% against the previous year. Over the last decade, it increased at an average annual rate of +3.9%. The growth pace was the most rapid in 2013 when the average export price increased by 15% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($1,834 per ton), while the average price for exports to Kazakhstan ($849 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Paint and Varnish Imports in Azerbaijan

Paint and varnish imports into Azerbaijan totaled 10K tons in 2022, picking up by 4.7% on the previous year. The total import volume increased at an average annual rate of +1.2% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 14%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, paint and varnish imports amounted to $33M in 2022. The total import value increased at an average annual rate of +5.2% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 22%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Import of Paint and Varnish in Azerbaijan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Turkey	16.9	14.4	18.5	21.0	7.5%
Russia	2.1	2.2	1.6	1.7	-6.8%
Poland	0.8	1.1	1.7	1.6	26.0%
Germany	1.2	1.1	1.3	1.1	-2.9%
Iran	0.6	0.5	0.6	0.8	10.1%
China	0.8	0.7	0.7	0.8	0.0%
United Arab Emirates	0.6	1.0	1.0	0.3	-20.6%
Others	5.4	4.9	6.3	5.5	0.6%
Total	28.2	26.1	31.7	32.9	5.3%

Top Suppliers of Paint and Varnish to Azerbaijan in 2022:

Turkey (7.5K tons)
Iran (0.5K tons)
China (0.4K tons)
Russia (0.4K tons)
Poland (0.3K tons)
Germany (0.2K tons)
United Arab Emirates (0.1K tons)

Paint and Varnish Exports in Azerbaijan

In 2022, approx. 2.8K tons of paints and varnishes were exported from Azerbaijan; picking up by 26% on the previous year's figure. Overall, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, paint and varnish exports soared to $3.2M in 2022. In general, total exports indicated notable growth from 2019 to 2022: its value increased at an average annual rate of +4.5% 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 +46.8% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Paint and Varnish in Azerbaijan (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Georgia	669	741	779	1,183	20.9%
Uzbekistan	868	470	565	798	-2.8%
Kyrgyzstan	718	407	399	556	-8.2%
Russia	87.4	205	137	422	69.0%
Iraq	367	185	279	147	-26.3%
Kazakhstan	72.9	101	61.9	68.3	-2.1%
Others	46.2	87.5	18.6	50.0	2.7%
Total	2,828	2,197	2,240	3,225	4.5%

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

Georgia (1126.8 tons)
Uzbekistan (661.8 tons)
Kyrgyzstan (501.2 tons)
Russia (230.0 tons)
Iraq (167.4 tons)
Kazakhstan (80.4 tons)

Source: IndexBox Market Intelligence Platform

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

Azerbaijan

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Azerbaijan
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