Latin America and the Caribbean: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2024

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Latin America and the Caribbean

In 2023, the Latin American market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by X% to $X, rising for the third consecutive year after two years of decline. In general, consumption, however, saw a slight downturn. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Production of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Latin America and the Caribbean

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium surged to $X in 2023 estimated in export price. In general, production, however, continues to indicate a slight reduction. The level of production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports in Latin America and the Caribbean

In 2023, after two years of growth, there was significant decline in shipments abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium, when their volume decreased by X% to X tons. Over the period under review, exports, however, posted a noticeable increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2022, and then fell rapidly in the following year.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium dropped to $X in 2023. Overall, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2022, and then reduced in the following year.

Exports by Country

Brazil (X tons), Costa Rica (X tons) and El Salvador (X tons) represented roughly X% of total exports in 2023. It was distantly followed by Mexico (X tons), mixing up a X% share of total exports. The following exporters - Colombia (X tons) and Argentina (X tons) - each amounted to a X% share of total exports.

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

In value terms, Costa Rica ($X), Brazil ($X) and El Salvador ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Costa Rica, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, rising by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports in Latin America and the Caribbean

Imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to X tons in 2023, approximately equating the previous year's figure. Total imports indicated a buoyant expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports of reached the peak figure in 2023 and are expected to retain growth in years to come.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium expanded slightly to $X in 2023. Total imports indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The level of import peaked in 2023 and is expected to retain growth in the near future.

Imports by Country

Mexico was the largest importing country with an import of about X tons, which reached X% of total imports. Guatemala (X tons) ranks second in terms of the total imports with an X% share, followed by Panama (X%), Paraguay (X%) and Honduras (X%). The Dominican Republic (X tons), Bolivia (X tons), Chile (X tons), Uruguay (X tons), Nicaragua (X tons), Brazil (X tons), El Salvador (X tons) and Ecuador (X tons) took a relatively small share of total imports.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2023. At the same time, Panama (X%), the Dominican Republic (X%), Honduras (X%), Guatemala (X%), Ecuador (X%), El Salvador (X%), Bolivia (X%), Paraguay (X%), Chile (X%), Uruguay (X%) and Nicaragua (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 2012-2023. Brazil experienced a relatively flat trend pattern. While the share of Panama (X p.p.), Honduras (X p.p.), the Dominican Republic (X p.p.), Mexico (X p.p.) and Guatemala (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Paraguay (X p.p.), Brazil (X p.p.), Uruguay (X p.p.) and Chile (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported paints and varnishes, based on acrylic or vinyl polymers, aqueous medium in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Guatemala ($X), with a X% share of total imports. It was followed by Panama, with a X% share.

In Mexico, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Guatemala (X% per year) and Panama (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, rising by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the import price increased by X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Brazil ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform