Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines - 2023
Contents:
- Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines (CIF) - 2023
- Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines (FOB) - 2022
- Imports of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines
- Exports of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines
Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines (CIF) - 2023
The average import price for paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium stood at $3,325 per ton in September 2023, falling by -34.3% against the previous month. In general, the import price, however, showed a noticeable expansion. The most prominent rate of growth was recorded in February 2023 an increase of 84% m-o-m. The import price peaked at $5,178 per ton in March 2023; however, from April 2023 to September 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Japan ($8,519 per ton), while the price for China ($1,162 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 China (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines (FOB) - 2022
In 2022, the average export price for paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium amounted to $2,269 per ton, with a decrease of -34.2% against the previous year. Over the period under review, the export price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2021 an increase of 49%. The export price peaked at $5,093 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($6,357 per ton), while the average price for exports to Japan ($1,870 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines
Imports of paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium into the Philippines soared to 3K tons in 2022, increasing by 119% compared with the previous year's figure. In general, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium soared to $7.9M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +19.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.6% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Import of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 741 | 685 | 788 | 1,397 | 23.5% |
China | 482 | 598 | 1,120 | 1,251 | 37.4% |
United Arab Emirates | N/A | N/A | 12.3 | 987 | 7924.4% |
Thailand | 218 | 1,388 | 701 | 938 | 62.6% |
Singapore | 294 | 258 | 321 | 382 | 9.1% |
Indonesia | 213 | 258 | 148 | 360 | 19.1% |
India | 206 | 235 | 317 | 343 | 18.5% |
Belgium | 313 | 163 | 193 | 264 | -5.5% |
Italy | 226 | 126 | 106 | 250 | 3.4% |
Malaysia | 239 | 177 | 210 | 226 | -1.8% |
Mexico | N/A | 86.2 | 43.9 | 200 | 52.3% |
South Korea | 140 | 445 | 127 | 128 | -2.9% |
Taiwan (Chinese) | 784 | 219 | 41.7 | 35.3 | -64.4% |
Others | 759 | 495 | 1,217 | 1,110 | 13.5% |
Total | 4,615 | 5,134 | 5,346 | 7,871 | 19.5% |
Top Suppliers of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium to the Philippines in 2022:
- United Arab Emirates (941.5 tons)
- China (860.5 tons)
- Japan (300.0 tons)
- Thailand (186.4 tons)
- Indonesia (97.9 tons)
- Italy (78.0 tons)
- Singapore (67.8 tons)
- India (66.6 tons)
- Malaysia (58.4 tons)
- South Korea (45.6 tons)
- Mexico (45.5 tons)
- Belgium (30.5 tons)
- Taiwan (Chinese) (28.0 tons)
Exports of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines
In 2022, approx. 1.2K tons of paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium were exported from the Philippines; growing by 14% on 2021 figures. In general, exports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year.
In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium fell sharply to $2.7M in 2022. Over the period under review, exports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2021 with an increase of 75% against the previous year. As a result, the exports reached the peak of $3.6M, and then contracted dramatically in the following year.
Export of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 2,190 | 1,551 | 3,051 | 1,969 | -3.5% |
Vietnam | 178 | 108 | 238 | 516 | 42.6% |
India | 399 | 247 | 223 | 86.2 | -40.0% |
Others | 210 | 150 | 86.4 | 125 | -15.9% |
Total | 2,977 | 2,056 | 3,598 | 2,697 | -3.2% |
Top Export Markets for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium from the Philippines in 2022:
- Japan (1053.3 tons)
- Vietnam (81.2 tons)
- India (24.0 tons)
This report provides an in-depth analysis of the paint and varnish market in the Philippines.
This report provides an in-depth analysis of the market for non-aqueous paint and varnish in the Philippines.
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