Belarus: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Belarus

The Belarusian market for oil and water paints and varnishes contracted notably to $X in 2021, which is down by -62.6% against the previous year. In general, consumption continues to indicate a abrupt descent. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Production of Oil And Water Paints And Varnishes in Belarus

In value terms, production of oil and water paints and varnishes contracted to $X in 2021 estimated in export price. In general, the total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +57.2% against 2016 indices. The most prominent rate of growth was recorded in 2015 with an increase of 54%. Over the period under review, production of attained the peak level at $X in 2020, and then shrank in the following year.

Exports of Oil And Water Paints And Varnishes

Exports from Belarus

Exports of oil and water paints and varnishes from Belarus soared to X tons in 2021, jumping by 17% compared with the year before. Overall, exports posted a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 161%. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, exports of oil and water paints and varnishes surged to $X in 2021. Over the period under review, exports saw a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of 270% against the previous year. Over the period under review, the exports of attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Latvia (X tons) was the main destination for exports of oil and water paints and varnishes from Belarus, accounting for a 82% share of total exports. Moreover, exports of oil and water paints and varnishes to Latvia exceeded the volume sent to the second major destination, Russia (X tons), ninefold. Ukraine (X tons) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume to Latvia stood at +17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+68.6% per year) and Ukraine (+114.7% per year).

In value terms, the largest markets for oil and water paints and varnishes exported from Belarus were Latvia ($X), Russia ($X) and Ukraine ($X), with a combined 94% share of total exports.

Ukraine, with a CAGR of +58.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for oil and water paints and varnishes amounted to $X per ton, with an increase of 8.5% against the previous year. Overall, the export price, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2013 an increase of 42%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Russia ($X per ton), while the average price for exports to Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (-5.8%), while the prices for the other major destinations experienced a decline.

Imports of Oil And Water Paints And Varnishes

Imports into Belarus

In 2021, approx. X tons of oil and water paints and varnishes were imported into Belarus; with an increase of 21% against the year before. Overall, total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.7% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 41%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, imports of oil and water paints and varnishes reached $X in 2021. The total import value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 22%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of oil and water paints and varnishes to Belarus, accounting for a 32% share of total imports. Moreover, imports of oil and water paints and varnishes from Russia exceeded the figures recorded by the second-largest supplier, Finland (X tons), ninefold. Sweden (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia amounted to -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (-1.3% per year) and Sweden (+9.0% per year).

In value terms, Russia ($X) constituted the largest supplier of oil and water paints and varnishes to Belarus, comprising 28% of total imports. The second position in the ranking was taken by Sweden ($X), with a 3.9% share of total imports. It was followed by Finland, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia stood at -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+2.4% per year) and Finland (-8.2% per year).

Import Prices by Country

The average import price for oil and water paints and varnishes stood at $X per ton in 2021, waning by -14.5% against the previous year. Over the period under review, the import price showed a pronounced curtailment. The most prominent rate of growth was recorded in 2017 an increase of 27%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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