Latin America and the Caribbean: Paint And Varnish Market 2024

Paint And Varnish Market Size in Latin America and the Caribbean

The Latin American paint and varnish market rose to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Paint And Varnish Production in Latin America and the Caribbean

In value terms, paint and varnish production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Paint And Varnish Exports

Exports in Latin America and the Caribbean

In 2022, the amount of paints and varnishes exported in Latin America and the Caribbean rose notably to X tons, surging by X% against 2021. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, paint and varnish exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

In 2022, Brazil (X tons), distantly followed by Mexico (X tons), Guatemala (X tons), Costa Rica (X tons) and El Salvador (X tons) represented the largest exporters of paints and varnishes, together constituting X% of total exports. Colombia (X tons) and Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Colombia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and Costa Rica ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports. El Salvador, Guatemala, Colombia and Argentina lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, El Salvador, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (X%), while the other leaders experienced more modest paces of growth.

Paint And Varnish Imports

Imports in Latin America and the Caribbean

In 2022, the amount of paints and varnishes imported in Latin America and the Caribbean shrank to X tons, waning by X% on the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then reduced modestly in the following year.

In value terms, paint and varnish imports rose markedly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

In 2022, Mexico (X tons) represented the major importer of paints and varnishes, constituting X% of total imports. Honduras (X tons) took the second position in the ranking, followed by Panama (X tons), Brazil (X tons), Guatemala (X tons), Argentina (X tons) and Chile (X tons). All these countries together took approx. X% share of total imports. The following importers - Paraguay (X tons), Nicaragua (X tons), Colombia (X tons), El Salvador (X tons), Peru (X tons) and Bolivia (X tons) - together made up X% of total imports.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Panama (X%), Peru (X%), Paraguay (X%), Honduras (X%), Nicaragua (X%), Guatemala (X%), Chile (X%), Bolivia (X%), Argentina (X%), Colombia (X%) and El Salvador (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Brazil (X%) illustrated a downward trend over the same period. Panama (X p.p.) and Mexico (X p.p.) significantly strengthened its position in terms of the total imports, while Brazil saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported paints and varnishes in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with an X% share of total imports. It was followed by Argentina, with a X% share.

In Mexico, paint and varnish imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform