Philippines - Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Aqueous Paint and Varnish in the Philippines - 2023
Contents:
- Price for Aqueous Paint and Varnish in the Philippines (CIF) - 2022
- Price for Aqueous Paint and Varnish in the Philippines (FOB) - 2023
- Imports of Aqueous Paint and Varnish in the Philippines
- Exports of Aqueous Paint and Varnish in the Philippines
Price for Aqueous Paint and Varnish in the Philippines (CIF) - 2022
In 2022, the average aqueous paint and varnish import price amounted to $3,190 per ton, declining by -4.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2020 when the average import price increased by 17% against the previous year. The import price peaked at $3,340 per ton in 2021, and then declined in the following year.
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 Germany ($9,265 per ton), while the price for China ($1,003 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Aqueous Paint and Varnish in the Philippines (FOB) - 2023
In June 2023, the average aqueous paint and varnish export price amounted to $2,329 per ton, reducing by -12% against the previous month. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 when the average export price increased by 108% m-o-m. As a result, the export price attained the peak level of $5,982 per ton. From May 2023 to June 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In June 2023, the country with the highest price was the United States ($2,448 per ton), while the average price for exports to Micronesia ($721 per ton) was amongst the lowest.
From July 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Palau (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Aqueous Paint and Varnish in the Philippines
In 2022, aqueous paint and varnish imports into the Philippines rose slightly to 9.7K tons, surging by 1.8% against 2021 figures. In general, imports, however, continue to indicate a pronounced setback. The most prominent rate of growth was recorded in 2021 when imports increased by 6.6%.
In value terms, aqueous paint and varnish imports dropped to $31M in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 12% against the previous year. As a result, imports reached the peak of $32M, and then dropped modestly in the following year.
| Import of Aqueous Paint and Varnish in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 8.4 | 8.7 | 10.2 | 10.7 | 8.4% |
| Japan | 7.9 | 7.5 | 8.1 | 5.7 | -10.3% |
| Thailand | 1.4 | 3.5 | 2.8 | 2.8 | 26.0% |
| Germany | 1.4 | 0.8 | 1.1 | 2.4 | 19.7% |
| South Korea | 0.1 | 0.2 | 0.7 | 1.7 | 157.1% |
| Singapore | 1.7 | 1.2 | 1.6 | 1.5 | -4.1% |
| Taiwan (Chinese) | 1.5 | 1.1 | 1.1 | 0.9 | -15.7% |
| United States | 2.0 | 1.3 | 1.4 | 0.9 | -23.4% |
| Vietnam | 0.7 | 0.6 | 1.6 | 0.8 | 4.6% |
| China | 1.0 | 0.6 | 0.8 | 0.7 | -11.2% |
| United Kingdom | 0.8 | 0.9 | 0.8 | 0.6 | -9.1% |
| Hong Kong SAR | 0.6 | 0.7 | 0.2 | 0.1 | -45.0% |
| Others | 2.0 | 1.2 | 1.4 | 2.0 | 0.0% |
| Total | 29.6 | 28.2 | 31.7 | 30.8 | 1.3% |
Top Suppliers of Aqueous Paint and Varnish to the Philippines in 2022:
- Malaysia (3740.4 tons)
- Japan (1350.7 tons)
- Taiwan (Chinese) (718.3 tons)
- China (702.8 tons)
- South Korea (598.2 tons)
- Thailand (571.3 tons)
- Singapore (474.0 tons)
- Germany (256.3 tons)
- United States (235.2 tons)
- United Kingdom (214.6 tons)
- Vietnam (158.1 tons)
- Hong Kong SAR (23.1 tons)
Exports of Aqueous Paint and Varnish in the Philippines
Aqueous paint and varnish exports from the Philippines contracted to 667 tons in 2022, with a decrease of -13.6% compared with the year before. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 166%. As a result, the exports attained the peak of 772 tons, and then declined in the following year.
In value terms, aqueous paint and varnish exports contracted to $1.8M in 2022. Over the period under review, exports, however, showed a modest expansion. The growth pace was the most rapid in 2021 when exports increased by 143%. As a result, the exports reached the peak of $1.9M, and then dropped in the following year.
| Export of Aqueous Paint and Varnish in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 1,200 | 530 | 1,383 | 1,007 | -5.7% |
| Mexico | N/A | N/A | N/A | 196 | 0% |
| United States | 0.3 | 0.2 | 223 | 191 | 760.3% |
| Thailand | N/A | 4.4 | 9.1 | 111 | 402.3% |
| Palau | 55.7 | N/A | 41.8 | 101 | 21.9% |
| Papua New Guinea | 191 | 193 | 149 | 64.7 | -30.3% |
| Micronesia | 39.8 | N/A | 33.3 | 2.2 | -61.9% |
| Northern Mariana Islands | 113 | N/A | 72.0 | 1.2 | -78.0% |
| Others | 83.0 | 63.9 | 14.6 | 92.9 | 3.8% |
| Total | 1,682 | 792 | 1,927 | 1,767 | 1.7% |
Top Export Markets for Aqueous Paint and Varnish from the Philippines in 2022:
- Indonesia (412.3 tons)
- United States (69.0 tons)
- Mexico (65.2 tons)
- Thailand (42.4 tons)
- Palau (38.1 tons)
- Papua New Guinea (20.3 tons)
- Micronesia (1.5 tons)
- Northern Mariana Islands (0.6 tons)
This report provides an in-depth analysis of the market for aqueous paint and varnish in the Philippines. 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
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- 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
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