Croatia: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Croatia

In 2022, the Croatian non-aqueous paint and varnish market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Non-aqueous paint and varnish consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Croatia

In value terms, non-aqueous paint and varnish production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports from Croatia

After two years of growth, overseas shipments of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by -9.2% to X tons in 2022. Overall, exports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 78%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, non-aqueous paint and varnish exports expanded sharply to $X in 2022. In general, exports, however, recorded strong growth. The growth pace was the most rapid in 2020 with an increase of 51%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Turkey (X tons) was the main destination for non-aqueous paint and varnish exports from Croatia, accounting for a 54% share of total exports. Moreover, non-aqueous paint and varnish exports to Turkey exceeded the volume sent to the second major destination, Italy (X tons), fivefold. Slovenia (X tons) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey amounted to +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+40.6% per year) and Slovenia (+5.5% per year).

In value terms, Turkey ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Croatia, comprising 46% of total exports. The second position in the ranking was held by Italy ($X), with a 12% share of total exports. It was followed by Serbia, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value to Turkey amounted to +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+40.6% per year) and Serbia (+1.1% per year).

Export Prices by Country

In 2022, the average non-aqueous paint and varnish export price amounted to $X per ton, rising by 17% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Turkey ($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 North Macedonia (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports into Croatia

Non-aqueous paint and varnish imports into Croatia rose modestly to X tons in 2022, increasing by 2.4% compared with the previous year's figure. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +84.8% against 2012 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 12%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, non-aqueous paint and varnish imports reached $X in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.7% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Germany (X tons), Italy (X tons) and Slovenia (X tons) were the main suppliers of non-aqueous paint and varnish imports to Croatia, together accounting for 75% of total imports. The Czech Republic, Serbia, Austria, Poland and Spain lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +34.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-aqueous paint and varnish suppliers to Croatia were Germany ($X), Italy ($X) and Slovenia ($X), together comprising 72% of total imports. The Czech Republic, Austria, Spain, Poland and Serbia lagged somewhat behind, together comprising a further 16%.

The Czech Republic, with a CAGR of +33.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-aqueous paint and varnish import price stood at $X per ton in 2022, flattening at the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 8.2%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then dropped slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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