The 2011 Import and Export Market for Prepared Paint Driers in the United States by ICONGroup


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									   The 2011 Import and Export
    Market for Prepared Paint
    Driers in the United States

                         Professor Philip M. Parker, Ph. D.
                      Chaired Professor of Management Science
                    INSEAD (Singapore & Fontainebleau, France)                                      ©2011 ICON Group Ltd.

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                                About the Author
Dr. Philip M. Parker is the Eli Lilly Chaired Professor of Innovation, Business and Society at
INSEAD where he has taught courses on multivariate statistics and global competitive strategy
since 1988. He has also taught courses at MIT, Stanford University, Harvard University, UCLA,
UCSD, and the Hong Kong University of Science and Technology. He is the author of six books
on the economic convergence of nations. These books introduce the notion of “physioeconomics”
which foresees a lack of global convergence in economic behaviors due to physiological and
physiographic forces. His latest book is "Physioeconomics: The Basis for Long-Run Economic
Growth" (MIT Press 2000). He has also published numerous articles in academic journals,
including The Rand Journal of Economics, Marketing Science, the Journal of International
Business Studies, Technological Forecasting and Social Change, International Journal of
Forecasting, the European Management Journal, the European Journal of Operational
Research, Journal of Marketing, International Journal of Research in Marketing, and Journal of
Marketing Research. He is also on the editorial boards of several academic journals.

Dr. Parker received his Ph.D. in Business Economics from the Wharton School of the University
of Pennsylvania and has Masters degrees in Finance and Banking (University of Aix-Marseille)
and Managerial Economics (Wharton). His undergraduate degrees are in mathematics, biology
and economics (minor in aeronautical engineering). He has consulted and/or taught courses in
Africa, the Middle East, Asia, Latin America, North America and Europe.

                                 About this Series
This series was created for international firms who rely on foreign export markets for a
substantial portion of their business or who might be threatened by foreign trade competition.
The estimates given in this report were created using a methodology developed by and under the
direct supervision of Professor Philip M. Parker, the Eli Lilly Chaired Professor of Innovation,
Business and Society, at INSEAD. The methodology, relying on historical figures of economic
growth and trade flows, estimates the market shares of some 150 countries for over 500 industrial
or product categories. The figures should be seen as market estimates, as opposed to historical
records, as these are projected for the current year of trade.

Some of the methodologies and research approaches used in this report have benefited from the
R&D Committee at INSEAD, whose research support is gratefully acknowledged. Additional
editorial assistance from Tiffany LaRochelle, ICON Group International, Inc., is also
acknowledged.                                                    ©2011 ICON Group Ltd.

                           About ICON Group Ltd.
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                                                         Contents        v

Table of Contents
1     INTRODUCTION AND METHODOLOGY                                   7
2     THE UNITED STATES AND THE WORLD MARKET                         9
    2.1     Imports in the United States in 2011                     9
    2.2     Exports from the United States in 2011                  10
3     IMPORTS IN THE UNITED STATES                                  11
    3.1      Asia                                                   11
       3.1.1    India                                               11
       3.1.2    Japan                                               11
       3.1.3    South Korea                                         12
       3.1.4    Thailand                                            12
    3.2      Europe                                                 13
       3.2.1    Austria                                             13
       3.2.2    Belgium                                             13
       3.2.3    Germany                                             14
       3.2.4    Italy                                               15
       3.2.5    Norway                                              15
       3.2.6    Spain                                               16
       3.2.7    Sweden                                              17
       3.2.8    Switzerland                                         17
       3.2.9    the Netherlands                                     18
       3.2.10 the United Kingdom                                    19
    3.3      Latin America                                          20
       3.3.1    Colombia                                            20
    3.4      North America & the Caribbean                          20
       3.4.1    Canada                                              20
    3.5      Oceana                                                 20
       3.5.1    Tokelau                                             20
    3.6      the Middle East                                        21
       3.6.1    Turkey                                              21
4     EXPORTS FROM THE UNITED STATES                                22
    4.1      Africa                                                 22
       4.1.1   South Africa                                         22
    4.2      Asia                                                   23
       4.2.1   China                                                23
       4.2.2   Hong Kong                                            24
       4.2.3   Indonesia                                            24
       4.2.4   Japan                                                25
       4.2.5   Malaysia                                             25
       4.2.6   Philippines                                          26
       4.2.7   Singapore                                            26
       4.2.8   South Korea                                          27
       4.2.9   Taiwan                                               27
       4.2.10 Thailand                                              28
    4.3      Europe                                                 28
       4.3.1   Belgium                                              28
       4.3.2   Finland                                              29
       4.3.3   France                                               29
       4.3.4   Germany                                              30                              ©2011 ICON Group Ltd.
                                                               Contents        vi

       4.3.5      Italy                                                   30
       4.3.6      the Netherlands                                         31
       4.3.7      the United Kingdom                                      31
    4.4        Latin America                                              32
       4.4.1      Brazil                                                  32
       4.4.2      Colombia                                                32
       4.4.3      Costa Rica                                              32
       4.4.4      Ecuador                                                 33
       4.4.5      Guatemala                                               33
       4.4.6      Guyana                                                  33
       4.4.7      Mexico                                                  34
       4.4.8      Nicaragua                                               34
       4.4.9      Panama                                                  34
    4.5        North America & the Caribbean                              35
       4.5.1      Canada                                                  35
       4.5.2      Trinidad and Tobago                                     35
    4.6        Oceana                                                     36
       4.6.1      Australia                                               36
    4.7        the Middle East                                            36
       4.7.1      Pakistan                                                36
       4.7.2      Saudi Arabia                                            37
    5.1        Disclaimers & Safe Harbor                                  38
    5.2        ICON Group Ltd. User Agreement Provisions                  39                                    ©2011 ICON Group Ltd.
                                                   Prepared Paint Driers in the United States    7

On the demand side, exporters and strategic planners focusing on prepared paint driers in the
United States face a number of questions. Which countries are supplying prepared paint driers to
the United States? How important is the United States compared to others in terms of the entire
global and regional market? How much do the imports of prepared paint driers vary from one
country of origin to another in the United States? On the supply side, the United States also
exports prepared paint driers. Which countries receive the most exports from the United States?
How are these exports concentrated across buyers? What is the value of these exports and which
countries are the largest buyers?

This report was created for strategic planners, international marketing executives and
import/export managers who are concerned with the market for prepared paint driers in the
United States. With the globalization of this market, managers can no longer be contented with a
local view. Nor can managers be contented with out-of-date statistics which appear several years
after the fact. I have developed a methodology, based on macroeconomic and trade models, to
estimate the market for prepared paint driers for those countries serving the United States via
exports, or supplying from the United States via imports. It does so for the current year based on
a variety of key historical indicators and econometric models.

In what follows, Chapter 2 begins by summarizing where the United States fits into the world
market for imported and exported prepared paint driers. The total level of imports and exports on
a worldwide basis, and those for the United States in particular, is estimated using a model which
aggregates across over 150 key country markets and projects these to the current year. From
there, each country represents a percent of the world market. This market is served from a
number of competitive countries of origin. Based on both demand- and supply-side dynamics,
market shares by country of origin are then calculated across each country market destination.
These shares lead to a volume of import and export values for each country and are aggregated to
regional and world totals. In doing so, we are able to obtain maximum likelihood estimates of
both the value of each market and the share that the United States is likely to receive this year.
From these figures, rankings are calculated to allow managers to prioritize the United States
compared to other major country markets. In this way, all the figures provided in this report are
forecasts that can be combined with internal information sources for strategic planning purposes.

After the worldwide summary in Chapter 2 of both imports and exports of prepared paint driers,
Chapter 3 goes into detail on imports, but for each major country of origin serving the United
States. A “major” market is defined as a country where the United States represents a
substantially large share of either imports or exports. For each major country exporting to the
United States, one can thus observe how important the United States is to that exporting country
compared to other countries of the world. Chapter 4 does the same, but for exports of prepared
paint driers originating from the United States, for each major country of destination. In doing
so, one can discover the share that the United States has in each major market; this share value is
often used as a measure of competitiveness for the United States. In all cases, the total dollar                                                       ©2011 ICON Group Ltd.
                                                    Prepared Paint Driers in the United States      8

volume and percentage share values by major trading partner are provided. Combined, Chapters
3 and 4 present a the total picture for imports and exports of prepared paint driers to and from the
United States to and from all other major countries in the world. "Prepared Paint Driers" as a
category is defined in this report following the definition given by the United Nations Statistics
Division Classification Registry using the Standard International Trade Classification, Revision 3
(SITC, Rev. 3). The SITC code that defined "prepared paint driers" is 53353 . For more
information on this definition, please refer to the following web site: .

This report is updated on an annual basis. To ensure that you have the most current version,
please check the web site of ICON Group at

Important Caveat. The figures should be seen as market estimates, as opposed to historical
records, as these are forecasted for the current year of trade. More importantly, in light of the fact
that unforeseeable factors might interrupt markets in achieving their reported levels, the figures
should be seen as estimates of potential. For example, "mad cow" disease, foot-and-mouth
disease, trade embargoes, military conflicts, acts of terrorism and other events will certainly
affect the actual trade flows recorded for a variety of industry or product categories. In such
cases, the difference between the numbers given in this report and the numbers actually observed
might be interpreted as the "net loss" or "net gain" due to these exogenous events affecting
regular trade flows that would have occurred had these events not have taken place.                                                        ©2011 ICON Group Ltd.
                                                      Prepared Paint Driers in the United States        9

                Imported Prepared Paint Driers in the United States, 2011
                              (Structure of Foreign Import Competition)

Country of Origin             Rank         Value (000 US$)              % Share        Cumulative %
Canada                            1                     2,616               25.00                   25.00
Japan                             2                     1,969               18.82                   43.82
Thailand                          3                     1,963               18.76                   62.58
India                             4                     1,025                9.80                   72.37
Spain                             5                       732                7.00                   79.37
Colombia                          6                       509                4.86                   84.23
Germany                           7                       393                3.76                   87.99
Norway                            8                       258                2.47                   90.45
the United Kingdom                9                       232                2.22                   92.67
the Netherlands                  10                       181                1.73                   94.40
Sweden                           11                       181                1.73                   96.13
Turkey                           12                       174                1.66                   97.79
Tokelau                          13                       100                0.96                   98.75
South Korea                      14                        78                0.75                   99.49
Italy                            15                        41                0.39                   99.89
Belgium                          16                         6                0.06                   99.94
Switzerland                      17                         3                0.03                   99.97
Austria                          18                         3                0.03                  100.00
Total                                                  10,464              100.00                  100.00
    Source: Philip M. PARKER, Professor, INSEAD, copyright 2011,                                                          ©2011 ICON Group Ltd.
                                                      Prepared Paint Driers in the United States       10

               Prepared Paint Driers Exports from the United States, 2011
Country of Destination        Rank         Value (000 US$) 
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