Belgium: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Belgium

In 2021, the Belgian aqueous paint and varnish market decreased by -10% to $X, falling for the third year in a row after three years of growth. Over the period under review, consumption continues to indicate a slight curtailment. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Belgium

In value terms, aqueous paint and varnish production totaled $X in 2021 estimated in export price. Overall, production, however, continues to indicate a pronounced reduction. Aqueous paint and varnish production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports from Belgium

In 2021, approx. X tons of paints and varnishes dispersed or dissolved in an aqueous medium were exported from Belgium; with an increase of 13% on the previous year. Over the period under review, exports posted a mild increase. The most prominent rate of growth was recorded in 2020 when exports increased by 118% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, aqueous paint and varnish exports soared to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 110% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) was the main destination for aqueous paint and varnish exports from Belgium, accounting for a 42% share of total exports. Moreover, aqueous paint and varnish exports to the Netherlands exceeded the volume sent to the second major destination, France (X tons), threefold. The third position in this ranking was held by Germany (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands amounted to +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-4.6% per year) and Germany (+1.7% per year).

In value terms, the Netherlands ($X), France ($X) and Germany ($X) appeared to be the largest markets for aqueous paint and varnish exported from Belgium worldwide, with a combined 53% share of total exports. These countries were followed by the UK, Italy, Poland, Sweden, Spain, China and Israel, which together accounted for a further 19%.

In terms of the main countries of destination, Israel, with a CAGR of +18.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average aqueous paint and varnish export price stood at $X per ton in 2021, growing by 2.2% against the previous year. Overall, the export price, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2013 an increase of 7.6%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to Israel ($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 China (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports into Belgium

In 2021, after two years of growth, there was significant decline in overseas purchases of paints and varnishes dispersed or dissolved in an aqueous medium, when their volume decreased by -9.3% to X tons. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 39%. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, aqueous paint and varnish imports rose slightly to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 45%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

The Netherlands (X tons), Germany (X tons) and France (X tons) were the main suppliers of aqueous paint and varnish imports to Belgium, with a combined 88% share of total imports. These countries were followed by the UK, Italy and Spain, which together accounted for a further 8.2%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +13.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and France ($X) appeared to be the largest aqueous paint and varnish suppliers to Belgium, together comprising 86% of total imports. These countries were followed by the UK, Italy and Spain, which together accounted for a further 10%.

The UK, with a CAGR of +16.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, increasing by 13% against the previous year. In general, the import price, however, continues to indicate 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 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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