ECOWAS: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in ECOWAS

In 2022, the ECOWAS non-aqueous paint and varnish market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in ECOWAS

In value terms, non-aqueous paint and varnish production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports in ECOWAS

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium exported in ECOWAS soared to X tons, growing by X% against the year before. Overall, exports showed a strong expansion. The growth pace was the most rapid in 2015 when exports increased by X%. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, non-aqueous paint and varnish exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a strong increase. The growth pace was the most rapid in 2017 with an increase of X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire was the major exporting country with an export of about X tons, which accounted for X% of total exports. It was distantly followed by Ghana (X tons), generating a X% share of total exports. The following exporters - Senegal (X tons) and Mali (X tons) - together made up X% of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the paints and varnishes dispersed or dissolved in a non-aqueous medium exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%), Mali (X%) and Ghana (X%) displayed positive paces of growth. Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Mali and Ghana saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest non-aqueous paint and varnish supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the export price saw a abrupt decline. The growth pace was the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mali ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced a decline in the export price figures.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports in ECOWAS

In 2022, after two years of growth, there was significant decline in supplies from abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium, when their volume decreased by X% to X tons. Total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, non-aqueous paint and varnish imports fell to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

Nigeria (X tons), Ghana (X tons) and Liberia (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Togo (X tons), Senegal (X tons), Burkina Faso (X tons) and Cote d'Ivoire (X tons), together achieving a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-aqueous paint and varnish importing markets in ECOWAS were Liberia ($X), Nigeria ($X) and Ghana ($X), together accounting for X% of total imports. Cote d'Ivoire, Senegal, Togo and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Togo, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, flattening at the previous year. Overall, the import price continues to indicate a mild slump. The pace of growth was the most pronounced in 2016 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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