Croatia: Market for Oil And Water Paints And Varnishes 2025

Market Size for Oil And Water Paints And Varnishes in Croatia

In 2021, the Croatian market for oil and water paints and varnishes decreased by -57% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption showed a mild decline. As a result, consumption reached the peak level of $X, and then contracted remarkably in the following year.

Production of Oil And Water Paints And Varnishes in Croatia

In value terms, production of oil and water paints and varnishes reduced dramatically to $X in 2021 estimated in export price. Overall, production, however, enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2020 with an increase of 204% against the previous year. As a result, production attained the peak level of $X, and then declined sharply in the following year.

Exports of Oil And Water Paints And Varnishes

Exports from Croatia

For the third consecutive year, Croatia recorded growth in shipments abroad of oil and water paints and varnishes, which increased by 141% to X tons in 2021. In general, exports showed a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 150% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, exports of oil and water paints and varnishes surged to $X in 2021. Overall, exports posted a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 125% against the previous year. Over the period under review, the exports of attained the peak figure in 2021 and are likely to see steady growth in years to come.

Exports by Country

Serbia (X tons) was the main destination for exports of oil and water paints and varnishes from Croatia, accounting for a 65% share of total exports. Moreover, exports of oil and water paints and varnishes to Serbia exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), twofold. Slovenia (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2021, the average annual growth rate of volume to Serbia amounted to +45.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+23.5% per year) and Slovenia (+13.0% per year).

In value terms, Serbia ($X) remains the key foreign market for oil and water paints and varnishes exports from Croatia, comprising 55% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a 22% share of total exports. It was followed by Slovenia, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Serbia amounted to +34.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+5.5% per year) and Slovenia (+14.4% per year).

Export Prices by Country

The average export price for oil and water paints and varnishes stood at $X per ton in 2021, reducing by -19.8% against the previous year. Over the period under review, the export price saw a abrupt shrinkage. The growth pace was the most rapid in 2015 when the average export price increased by 25% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 Slovenia (+1.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Oil And Water Paints And Varnishes

Imports into Croatia

In 2021, supplies from abroad of oil and water paints and varnishes decreased by -10.2% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 46%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of oil and water paints and varnishes soared to $X in 2021. In general, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 increased by +33.8% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of oil and water paints and varnishes to Croatia, accounting for a 33% share of total imports. Moreover, imports of oil and water paints and varnishes from Germany exceeded the figures recorded by the second-largest supplier, Slovenia (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+3.1% per year) and Italy (+4.1% per year).

In value terms, Germany ($X), Slovenia ($X) and Italy ($X) constituted the largest oil and water paints and varnishes suppliers to Croatia, with a combined 65% share of total imports. These countries were followed by Austria, Serbia, Turkey and Finland, which together accounted for a further 18%.

Turkey, with a CAGR of +32.9%, recorded 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 import price for oil and water paints and varnishes amounted to $X per ton, increasing by 53% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the average import price increased by 53%. Over the period under review, average import prices reached the peak figure in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Slovenia ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+30.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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