Republic of Korea - Paints And Varnishes - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPaint and Varnish Price in South Korea - 2022
Contents:
- Paint and Varnish Price in South Korea (CIF) - 2022
- Paint and Varnish Price in South Korea (FOB) - 2022
- Paint and Varnish Imports in South Korea
- Paint and Varnish Exports in South Korea
Paint and Varnish Price in South Korea (CIF) - 2022
The average paint and varnish import price stood at $13,318 per ton in December 2022, falling by -5.1% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in June 2022 an increase of 32% against the previous month. Over the period under review, average import prices reached the peak figure at $15,539 per ton in October 2022; however, from November 2022 to December 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($21,365 per ton), while the price for Vietnam ($3,870 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Paint and Varnish Price in South Korea (FOB) - 2022
The average paint and varnish export price stood at $6,431 per ton in December 2022, with an increase of 9.7% against the previous month. In general, the export price recorded a modest increase. The growth pace was the most rapid in January 2022 an increase of 15% m-o-m. As a result, the export price attained the peak level of $6,550 per ton. From February 2022 to December 2022, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($13,343 per ton), while the average price for exports to Russia ($3,849 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.
Paint and Varnish Imports in South Korea
After three years of growth, purchases abroad of paints and varnishes decreased by -16.5% to 52K tons in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 18%. As a result, imports reached the peak of 62K tons, and then shrank dramatically in the following year.
In value terms, paint and varnish imports reduced to $626M in 2022. The total import value increased at an average annual rate of +1.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 15%. As a result, imports reached the peak of $690M, and then declined in the following year.
| Import of Paint and Varnish in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 395 | 401 | 460 | 399 | 0.3% |
| United States | 55.8 | 53.4 | 67.3 | 70.2 | 8.0% |
| Germany | 33.0 | 34.3 | 44.5 | 41.7 | 8.1% |
| Singapore | 18.1 | 20.2 | 26.0 | 24.2 | 10.2% |
| China | 22.4 | 19.7 | 21.9 | 21.7 | -1.1% |
| Taiwan (Chinese) | 13.2 | 14.9 | 13.7 | 13.2 | 0.0% |
| Italy | 9.9 | 8.6 | 9.4 | 10.9 | 3.3% |
| Others | 45.0 | 45.8 | 47.7 | 44.8 | -0.1% |
| Total | 593 | 597 | 690 | 626 | 1.8% |
Top Suppliers of Paint and Varnish to South Korea in 2022:
- Japan (17.7K tons)
- Singapore (9.0K tons)
- United States (4.8K tons)
- China (3.7K tons)
- Germany (3.5K tons)
- Taiwan (Chinese) (3.2K tons)
- Italy (2.8K tons)
Paint and Varnish Exports in South Korea
In 2022, exports of paints and varnishes from South Korea reduced to 113K tons, which is down by -5.6% on 2021. Over the period under review, exports saw a pronounced reduction. The growth pace was the most rapid in 2021 when exports increased by 1.6%.
In value terms, paint and varnish exports shrank to $680M in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 10%. As a result, the exports attained the peak of $683M, leveling off in the following year.
| Export of Paint and Varnish in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 298 | 287 | 308 | 304 | 0.7% |
| Vietnam | 82.7 | 75.7 | 83.2 | 82.5 | -0.1% |
| United States | 35.0 | 36.4 | 40.2 | 49.1 | 11.9% |
| India | 30.0 | 29.2 | 32.2 | 35.9 | 6.2% |
| Indonesia | 25.8 | 22.4 | 31.2 | 33.8 | 9.4% |
| Japan | 23.5 | 22.2 | 24.9 | 24.9 | 1.9% |
| Mexico | 14.3 | 12.9 | 18.2 | 18.6 | 9.2% |
| Thailand | 12.3 | 13.7 | 17.8 | 17.3 | 12.0% |
| Taiwan (Chinese) | 18.4 | 17.5 | 19.9 | 16.4 | -3.8% |
| Russia | 20.7 | 22.1 | 22.1 | 13.7 | -12.9% |
| Mongolia | 5.7 | 6.9 | 7.0 | 9.9 | 20.2% |
| Malaysia | 6.8 | 7.0 | 11.3 | 9.7 | 12.6% |
| Uzbekistan | 18.2 | 8.5 | 2.5 | 3.8 | -40.7% |
| Others | 72.4 | 59.2 | 64.3 | 60.5 | -5.8% |
| Total | 663 | 621 | 683 | 680 | 0.8% |
Top Export Markets for Paint and Varnish from South Korea in 2022:
- China (44.3K tons)
- Vietnam (14.6K tons)
- Indonesia (6.9K tons)
- India (6.0K tons)
- Mongolia (6.0K tons)
- Russia (3.8K tons)
- Thailand (3.8K tons)
- Japan (3.7K tons)
- United States (3.6K tons)
- Mexico (3.2K tons)
- Taiwan (Chinese) (2.1K tons)
- Malaysia (2.1K tons)
- Uzbekistan (0.7K tons)
This report provides an in-depth analysis of the paint and varnish market in Republic of Korea. 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:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- 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.
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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
-
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
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- 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 -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- 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
- 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 Of Origin, 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, By Country Of Destination, 2012–2023
470
This report provides an in-depth analysis of the paint and varnish market in Republic of Korea.
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This report provides an in-depth analysis of the market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in Republic of Korea.
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This report provides an in-depth analysis of the global market for aqueous paint and varnish.
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This report provides an in-depth analysis of the global market for metal spiral or discs spring.
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This report provides an in-depth analysis of the paint and varnish market in Republic of Korea.
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This report provides an in-depth analysis of the market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in Republic of Korea.
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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. ...
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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. ...
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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.
1660
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. ...
3016
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. ...
