Drop in Paint and Varnish Prices in India to $4,865 per Ton

Drop in Paint and Varnish Prices in India to $4,865 per Ton

In June 2023, the price of paint and varnish in India reached $4,865 per ton, showing a decline of -6% compared to the previous month. However, the import price had a relatively stable trend pattern during the period under review. The highest growth rate occurred in August 2022, with a month-to-month increase of 14%. The import price peaked at $5,479 per ton in April 2023 but failed to regain momentum from May 2023 to June 2023. The price of paint and varnish varied significantly by the country of origin, with Belgium having the highest price at $9,294 per ton, while China had one of the lowest prices at $2,660 per ton. Among the major suppliers, Indonesia experienced the most notable growth rate in prices, with an increase of 4.8% from June 2022 to June 2023. Paint and varnish imports into India decreased to 5.5K tons in June 2023, a decline of -5% compared to May 2023. Overall, imports indicated a slight slump, although there was a significant increase of 20% in March 2023. In terms of value, paint and varnish imports amounted to $27M in June 2023, with a slight decrease compared to the previous month. The United States, China, and Italy were the main suppliers of paint and varnish to India, accounting for 38% of total imports. The value of imports from Hong Kong showed the highest rate of growth among the main suppliers, with a CAGR of +32.6% from June 2022 to June 2023. Italy, South Korea, and Germany constituted the largest suppliers in terms of value, accounting for 34% of total imports.

Source: IndexBox Market Intelligence Platform

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