GCC: 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 GCC

The GCC non-aqueous paint and varnish market declined slightly to $X in 2022, waning by X% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2021, and then fell in the following year.

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

In value terms, non-aqueous paint and varnish production amounted to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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

Exports in GCC

In 2022, overseas shipments of paints and varnishes dispersed or dissolved in a non-aqueous medium increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, exports posted buoyant 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 surged to $X in 2022. Over the period under review, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

The United Arab Emirates dominates exports structure, recording X tons, which was near X% of total exports in 2022. Oman (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

The United Arab Emirates 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, Oman (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest non-aqueous paint and varnish supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with a X% share of total exports.

In the United Arab Emirates, non-aqueous paint and varnish exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, waning by X% against the previous year. Overall, the export price continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. The level of export peaked at $X per ton in 2021, and then reduced notably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (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 GCC

In 2022, overseas purchases of paints and varnishes dispersed or dissolved in a non-aqueous medium increased by X% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated buoyant 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 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, non-aqueous paint and varnish imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The countries with the highest levels of non-aqueous paint and varnish imports in 2022 were Saudi Arabia (X tons), the United Arab Emirates (X tons) and Kuwait (X tons), together finishing at X% of total import. It was distantly followed by Bahrain (X tons), Oman (X tons) and Qatar (X tons), together constituting a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (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 GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), together comprising X% of total imports.

In terms of the main importing countries, Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, 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 GCC stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :