Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium Market

The article discusses the expected market performance for paints and varnishes based on acrylic or vinyl polymers in aqueous medium over the period from 2022 to 2030. Consumption is forecasted to increase with a CAGR of +1.0% leading to a market volume of 24M tons by 2030. In value terms, the market is predicted to grow with a CAGR of +3.6%, reaching $83.4B by 2030. Key insights include the largest consuming countries such as China, the United States, and India, as well as trends in production, imports, and exports of these paints and varnishes. The highest levels of exports and imports are detailed, along with average prices and notable growth rates across different countries.

Market Forecast

Driven by increasing demand for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.0% for the period from 2022 to 2030, which is projected to bring the market volume to 24M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market value to $83.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

In 2022, approx. 22M tons of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium were consumed worldwide; remaining stable against the previous year. Overall, consumption recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 4.4% against the previous year. Global consumption peaked at 23M tons in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

The size of the market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium worldwide expanded to $63B in 2022, rising by 1.8% 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). Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the global market reached the peak level at $64.3B in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The country with the largest volume of consumption of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium was China (4.8M tons), accounting for 21% of total volume. Moreover, consumption of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in China exceeded the figures recorded by the second-largest consumer, the United States (2.4M tons), twofold. India (1.8M tons) ranked third in terms of total consumption with an 8.2% share.

In China, consumption of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+1.2% per year) and India (-0.4% per year).

In value terms, the United States ($16.5B), China ($9.2B) and Japan ($7.8B) appeared to be the countries with the highest levels of market value in 2022, together comprising 53% of the global market. India, Pakistan, France, the UK, Italy, Germany, Russia, Brazil, Spain and Nigeria lagged somewhat behind, together accounting for a further 23%.

Among the main consuming countries, Russia, with a CAGR of +12.8%, recorded the highest rates of growth with regard to market size over the period under review, while medium for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium per capita consumption in 2022 were Spain (8.2 kg per person), Italy (8 kg per person) and the UK (7.9 kg per person).

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +14.5%), while medium for the other global leaders experienced more modest paces of growth.

Production

World Production of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

In 2022, approx. 22M tons of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium were produced worldwide; approximately equating the year before. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 4% against the previous year. As a result, production attained the peak volume of 23M tons. From 2018 to 2022, global production of growth remained at a lower figure.

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium rose slightly to $65.2B in 2022 estimated in export price. In general, production saw mild growth. The growth pace was the most rapid in 2013 when the production volume increased by 11% against the previous year. Global production peaked at $66.3B in 2020; however, from 2021 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (4.8M tons), the United States (2.4M tons) and India (1.8M tons), together accounting for 40% of global production. Russia, Japan, Germany, Brazil, Pakistan, Nigeria, Italy, the UK, France and Spain lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of medium, amongst the key producing countries, was attained by Russia (with a CAGR of +15.8%), while medium for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

After three years of growth, overseas purchases of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium decreased by -1% to 1.7M tons in 2022. The total import volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 11% against the previous year. Over the period under review, global imports of reached the peak figure at 1.7M tons in 2021, and then declined modestly in the following year.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $4.4B in 2022. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. Over the period under review, global imports of attained the maximum in 2022 and are expected to retain growth in the near future.

Imports By Country

Canada (127K tons), France (93K tons), the UK (75K tons), Belgium (72K tons), Poland (68K tons), Germany (65K tons), Russia (56K tons), China (52K tons), the Netherlands (52K tons), Sweden (48K tons), Mexico (48K tons) and Austria (36K tons) represented roughly 47% of total imports in 2022. Italy (29K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +11.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Canada ($510M) constitutes the largest market for imported paints and varnishes, based on acrylic or vinyl polymers, aqueous medium worldwide, comprising 12% of global imports. The second position in the ranking was taken by France ($219M), with a 5% share of global imports. It was followed by Germany, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value in Canada amounted to +5.6%. The remaining importing countries recorded the following average annual rates of imports growth: France (+1.3% per year) and Germany (+2.5% per year).

Import Prices By Country

The average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $2,603 per ton in 2022, growing by 1.8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 8.8%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($4,020 per ton), while Russia ($1,615 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

In 2022, global exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium fell slightly to 1.6M tons, with a decrease of -2.4% compared with 2021 figures. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 9.7% against the previous year. Over the period under review, the global exports of reached the peak figure at 1.6M tons in 2021, and then reduced modestly in the following year.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium declined to $4.4B in 2022. The total export value increased at an average annual rate of +3.1% 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 2021 with an increase of 17% against the previous year. As a result, the exports attained the peak of $4.4B, leveling off in the following year.

Exports By Country

In 2022, Germany (339K tons), distantly followed by the Netherlands (107K tons), Turkey (98K tons) and Italy (80K tons) represented the largest exporters of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium, together creating 40% of total exports. Sweden (68K tons), Poland (68K tons), Belgium (59K tons), France (49K tons), Denmark (46K tons), the United States (41K tons), Spain (39K tons), the UK (37K tons) and the Czech Republic (32K tons) held a little share of total exports.

Exports from Germany increased at an average annual rate of +1.6% from 2012 to 2022. At the same time, Poland (+8.6%), Spain (+8.4%), Italy (+6.4%), Turkey (+6.4%), Belgium (+4.6%), the Czech Republic (+3.4%) and Denmark (+3.1%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +8.6% from 2012-2022. France and Sweden experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.1%), the UK (-1.3%) and the United States (-9.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Poland and Italy increased by +2.1, +2 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($832M), the United States ($763M) and the Netherlands ($316M) were the countries with the highest levels of exports in 2022, together comprising 44% of global exports. Italy, Belgium, Sweden, Turkey, France, Poland, the UK, Denmark, Spain and the Czech Republic lagged somewhat behind, together accounting for a further 32%.

Poland, with a CAGR of +8.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $2,803 per ton in 2022, rising by 1.8% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 9.9%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($18,788 per ton), while the Czech Republic ($1,391 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 (+17.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform