Philippines - Oil And Water Paints And Varnishes - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Oil and Water Paints and Varnishes in the Philippines - 2023
Contents:
- Price for Oil and Water Paints and Varnishes in the Philippines (CIF) - 2023
- Price for Oil and Water Paints and Varnishes in the Philippines (FOB) - 2022
- Imports of Oil and Water Paints and Varnishes in the Philippines
- Exports of Oil and Water Paints and Varnishes in the Philippines
Price for Oil and Water Paints and Varnishes in the Philippines (CIF) - 2023
In September 2023, the average import price for oil and water paints and varnishes amounted to $1,791 per ton, with a decrease of -33.1% against the previous month. Overall, the import price continues to indicate a deep setback. The pace of growth appeared the most rapid in May 2023 when the average import price increased by 138% against the previous month. As a result, import price attained the peak level of $7,511 per ton. From June 2023 to September 2023, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Vietnam ($5,089 per ton), while the price for China ($436 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+47.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Oil and Water Paints and Varnishes in the Philippines (FOB) - 2022
In 2022, the average export price for oil and water paints and varnishes amounted to $4,825 per ton, waning by -65.8% against the previous year. In general, the export price, however, posted a noticeable expansion. The most prominent rate of growth was recorded in 2020 an increase of 177% against the previous year. The export price peaked at $14,124 per ton in 2021, and then dropped rapidly in the following year.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($5,067 per ton), while the average price for exports to Solomon Islands stood at $4,533 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to United States Minor Outlying Islands (+36.0%).
Imports of Oil and Water Paints and Varnishes in the Philippines
After two years of decline, overseas purchases of oil and water paints and varnishes increased by 64% to 3.3K tons in 2022. Over the period under review, imports, however, continue to indicate a pronounced downturn.
In value terms, imports of oil and water paints and varnishes rose rapidly to $9.7M in 2022. Overall, imports, however, saw a slight descent.
| Import of Oil and Water Paints and Varnishes in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 3.9 | 4.8 | 3.6 | 4.5 | 4.9% |
| Vietnam | 0.4 | 0.5 | 1.7 | 2.2 | 76.5% |
| Indonesia | 0.4 | 1.0 | 1.2 | 0.8 | 26.0% |
| Switzerland | 1.1 | 0.8 | 1.2 | 0.5 | -23.1% |
| United States | 0.2 | 0.1 | 0.1 | 0.4 | 26.0% |
| China | 0.8 | 0.4 | 0.2 | 0.4 | -20.6% |
| Taiwan (Chinese) | 0.2 | 0.2 | 0.1 | 0.1 | -20.6% |
| Thailand | 1.6 | 0.4 | 0.1 | 0.1 | -60.3% |
| Others | 1.6 | 1.0 | 0.8 | 0.7 | -24.1% |
| Total | 10.3 | 9.0 | 9.0 | 9.7 | -2.0% |
Top Suppliers of Oil and Water Paints and Varnishes to the Philippines in 2022:
- Japan (1538.8 tons)
- China (805.1 tons)
- Vietnam (376.9 tons)
- Taiwan (Chinese) (97.7 tons)
- Thailand (91.7 tons)
- Indonesia (90.9 tons)
- United States (85.8 tons)
- Switzerland (44.0 tons)
Exports of Oil and Water Paints and Varnishes in the Philippines
Exports of oil and water paints and varnishes from the Philippines shrank significantly to 211 kg in 2022, falling by -97.5% on the year before. Over the period under review, exports showed a precipitous slump. The most prominent rate of growth was recorded in 2021 when exports increased by 321% against the previous year. As a result, the exports reached the peak of 8.3 tons, and then dropped rapidly in the following year.
In value terms, exports of oil and water paints and varnishes contracted dramatically to $1K in 2022. Overall, exports faced a precipitous shrinkage. The growth pace was the most rapid in 2021 with an increase of 536%. As a result, the exports attained the peak of $117K, and then fell rapidly in the following year.
| Export of Oil and Water Paints and Varnishes in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Solomon Islands | N/A | N/A | N/A | 0.8 | 0% |
| Taiwan (Chinese) | N/A | N/A | N/A | 0.2 | 0% |
| Vietnam | 4.6 | 10.9 | 26.4 | N/A | 139.6% |
| Micronesia | 5.5 | N/A | N/A | N/A | 0% |
| Brunei Darussalam | N/A | 7.3 | 91.1 | N/A | 1147.9% |
| Others | 0.2 | 0.2 | N/A | 0.1 | -20.6% |
| Total | 10.3 | 18.5 | 117 | 1.0 | -54.0% |
Top Export Markets for Oil and Water Paints and Varnishes from the Philippines in 2022:
- Solomon Islands (180.0 kg)
- Taiwan (Chinese) (30.0 kg)
This report provides an in-depth analysis of the market for oil and water paints and varnishes 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 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:
- 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.
-
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
-
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
-
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
-
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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