Report Update: May 1, 2024

Sri Lanka - Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium - Market Analysis, Forecast, Size, Trends and Insights

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Price for Non-Aqueous Paint and Varnish in Sri Lanka - 2021

Price for Non-Aqueous Paint and Varnish in Sri Lanka (CIF) - 2022

The average non-aqueous paint and varnish import price stood at $4,764 per ton in 2022, increasing by 8.7% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 15% against the previous year. As a result, import price reached the peak level of $5,371 per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($9,130 per ton), while the price for South Korea ($3,198 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Non-Aqueous Paint and Varnish in Sri Lanka (FOB) - 2022

The average non-aqueous paint and varnish export price stood at $5,004 per ton in 2022, increasing by 39% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. Over the period under review, the average export prices hit record highs at $5,317 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were India ($6,071 per ton) and Singapore ($5,810 per ton), while the average price for exports to Seychelles ($5,396 per ton) and Maldives ($5,769 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Aqueous Paint and Varnish in Sri Lanka

In 2022, approx. 3.4K tons of paints and varnishes dispersed or dissolved in a non-aqueous medium were imported into Sri Lanka; which is down by -27.6% on the previous year's figure. In general, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2021 with an increase of 27% against the previous year. As a result, imports attained the peak of 4.7K tons, and then shrank sharply in the following year.

In value terms, non-aqueous paint and varnish imports declined dramatically to $16M in 2022. Overall, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2021 with an increase of 22%. As a result, imports attained the peak of $21M, and then declined notably in the following year.

Import of Non-Aqueous Paint and Varnish in Sri Lanka (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	3.2	2.1	3.4	2.6	-6.7%
Indonesia	2.4	2.3	3.5	2.4	0.0%
Malaysia	2.0	2.1	1.7	2.2	3.2%
China	1.9	1.1	1.0	1.6	-5.6%
Taiwan (Chinese)	0.5	0.6	1.2	1.5	44.2%
Netherlands	2.1	2.2	2.3	0.8	-27.5%
Singapore	1.2	0.6	0.8	0.8	-12.6%
Thailand	0.8	0.9	0.7	0.7	-4.4%
Germany	0.6	0.6	0.5	0.6	0.0%
Turkey	N/A	0.2	0.4	0.5	58.1%
France	0.3	0.3	0.5	0.5	18.6%
South Korea	0.1	0.1	0.2	0.3	44.2%
United Kingdom	0.6	0.5	0.6	0.1	-45.0%
Others	3.9	3.5	3.8	1.4	-28.9%
Total	19.8	16.9	20.6	16.2	-6.5%

Top Suppliers of Non-Aqueous Paint and Varnish to Sri Lanka in 2022:

India (590.9 tons)
Indonesia (561.6 tons)
Malaysia (443.4 tons)
Taiwan (Chinese) (443.3 tons)
Singapore (235.2 tons)
China (230.2 tons)
Thailand (145.0 tons)
France (141.8 tons)
Turkey (133.8 tons)
South Korea (108.4 tons)
Netherlands (85.2 tons)
Germany (68.2 tons)
United Kingdom (28.0 tons)

Exports of Non-Aqueous Paint and Varnish in Sri Lanka

In 2022, approx. 1.2K tons of paints and varnishes dispersed or dissolved in a non-aqueous medium were exported from Sri Lanka; rising by 114% compared with the year before. Overall, exports recorded resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-aqueous paint and varnish exports soared to $6.1M in 2022. In general, exports continue to indicate a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Non-Aqueous Paint and Varnish in Sri Lanka (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Maldives	841	509	257	3,168	55.6%
Singapore	6.2	85.2	3.5	406	303.1%
India	1,982	141	77.7	183	-54.8%
Seychelles	5.8	N/A	4.3	139	188.3%
Iceland	201	1.6	N/A	N/A	-99.2%
Others	2,080	1,499	1,699	2,179	1.6%
Total	5,116	2,236	2,041	6,076	5.9%

Top Export Markets for Non-Aqueous Paint and Varnish from Sri Lanka in 2022:

Maldives (549.1 tons)
Singapore (70.0 tons)
India (30.2 tons)
Seychelles (25.8 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for non-aqueous paint and varnish in Sri Lanka. 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 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.

Country coverage:

Sri Lanka

Data coverage:

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