Belarus: Paint And Varnish Market 2024

Paint And Varnish Market Size in Belarus

The Belarusian paint and varnish market rose modestly to $X in 2022, picking up by 2.6% against the previous year. Over the period under review, consumption, however, showed a pronounced descent. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Paint And Varnish Production in Belarus

In value terms, paint and varnish production shrank modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 16% against the previous year. Paint and varnish production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Paint And Varnish Exports

Exports from Belarus

In 2022, approx. X tons of paints and varnishes were exported from Belarus; dropping by -14.7% against the previous year. Overall, total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +11.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 48%. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, paint and varnish exports fell sharply to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 34% against the previous year. The exports peaked at $X in 2021, and then dropped significantly in the following year.

Exports by Country

Estonia (X tons), Russia (X tons) and Latvia (X tons) were the main destinations of paint and varnish exports from Belarus, with a combined 86% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +124.6%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Estonia ($X) and Lithuania ($X) constituted the largest markets for paint and varnish exported from Belarus worldwide, with a combined 77% share of total exports.

Estonia, with a CAGR of +90.5%, 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 2022, the average paint and varnish export price amounted to $X per ton, declining by -6.9% against the previous year. Overall, the export price continues to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2019 an increase of 28%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Belarus

In 2022, after six years of growth, there was decline in supplies from abroad of paints and varnishes, when their volume decreased by -4.6% to X tons. In general, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 66% against the previous year. As a result, imports reached the peak of X tons, and then dropped modestly in the following year.

In value terms, paint and varnish imports soared to $X in 2022. Overall, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of 81%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Russia (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of paint and varnish imports to Belarus, with a combined 74% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +11.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Poland ($X) and Germany ($X) constituted the largest paint and varnish suppliers to Belarus, with a combined 62% share of total imports.

In terms of the main suppliers, Poland, with a CAGR of +15.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average paint and varnish import price stood at $X per ton in 2022, with an increase of 24% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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