Azerbaijan: 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 Azerbaijan

The Azerbaijani non-aqueous paint and varnish market totaled $X in 2023, picking up by X% against the previous year. Over the period under review, consumption saw a remarkable increase. As a result, consumption reached the peak level of $X. From 2017 to 2023, the growth of the market failed to regain momentum.

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

In value terms, non-aqueous paint and varnish production totaled $X in 2023 estimated in export price. Overall, production saw a resilient increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

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

Exports from Azerbaijan

In 2023, after three years of decline, there was significant growth in overseas shipments of paints and varnishes dispersed or dissolved in a non-aqueous medium, when their volume increased by X% to X tons. In general, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, non-aqueous paint and varnish exports skyrocketed to $X in 2023. Overall, exports recorded a resilient increase. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2023 and are expected to retain growth in the near future.

Exports by Country

Kyrgyzstan (X tons), Georgia (X tons) and Uzbekistan (X tons) were the main destinations of non-aqueous paint and varnish exports from Azerbaijan, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Kyrgyzstan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-aqueous paint and varnish exported from Azerbaijan were Uzbekistan ($X), Georgia ($X) and Kyrgyzstan ($X), with a combined X% share of total exports.

Among the main countries of destination, Kyrgyzstan, with a CAGR of X%, recorded the highest growth rate of 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 2023, the average non-aqueous paint and varnish export price amounted to $X per ton, rising by X% against the previous year. In general, the export price continues to indicate a prominent increase. The pace of growth was the most pronounced in 2022 when the average export price increased by X% against the previous year. The export price peaked in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (X%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Azerbaijan

For the third year in a row, Azerbaijan recorded growth in supplies from abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium, which increased by X% to X tons in 2023. Overall, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked in 2023 and are likely to see gradual growth in the immediate term.

In value terms, non-aqueous paint and varnish imports expanded remarkably to $X in 2023. In general, imports showed a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Turkey (X tons) constituted the largest non-aqueous paint and varnish supplier to Azerbaijan, accounting for a X% share of total imports. Moreover, non-aqueous paint and varnish imports from Turkey exceeded the figures recorded by the second-largest supplier, Iran (X tons), sixfold. The third position in this ranking was taken by China (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Turkey totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (X% per year) and China (X% per year).

In value terms, Turkey ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Azerbaijan, comprising X% of total imports. The second position in the ranking was held by Russia ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Turkey totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and China (X% per year).

Import Prices by Country

The average non-aqueous paint and varnish import price stood at $X per ton in 2023, increasing by X% against the previous year. Overall, the import price, however, showed a slight shrinkage. The pace of growth was the most pronounced in 2015 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform