Croatia: 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 Croatia

In 2021, the Croatian aqueous paint and varnish market decreased by -48% to $X, falling for the second consecutive year after two years of growth. In general, consumption saw a pronounced descent. Aqueous paint and varnish consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, aqueous paint and varnish production fell remarkably to $X in 2021 estimated in export price. Overall, production recorded a deep downturn. The pace of growth appeared the most rapid in 2018 when the production volume increased by 66%. Aqueous paint and varnish production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

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

Exports from Croatia

In 2021, overseas shipments of paints and varnishes dispersed or dissolved in an aqueous medium were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 30% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, aqueous paint and varnish exports expanded significantly to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 26% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Bosnia and Herzegovina (X tons), Slovenia (X tons) and Serbia (X tons) were the main destinations of aqueous paint and varnish exports from Croatia, with a combined 45% share of total exports. North Macedonia, Kosovo, Austria, Italy, Hungary, Slovakia and Romania lagged somewhat behind, together comprising a further 46%.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +42.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X), Slovenia ($X) and Italy ($X) constituted the largest markets for aqueous paint and varnish exported from Croatia worldwide, together comprising 52% of total exports. These countries were followed by Austria, Serbia, Hungary, North Macedonia, Kosovo, Slovakia and Romania, which together accounted for a further 39%.

In terms of the main countries of destination, Hungary, with a CAGR of +45.4%, saw the highest rates of growth with regard to 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, rising by 11% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to North Macedonia ($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 Kosovo (+12.3%), 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 Croatia

For the third consecutive year, Croatia recorded growth in overseas purchases of paints and varnishes dispersed or dissolved in an aqueous medium, which increased by 11% to X tons in 2021. The total import volume increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish imports soared to $X in 2021. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 19%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

Serbia (X tons), Germany (X tons) and Slovenia (X tons) were the main suppliers of aqueous paint and varnish imports to Croatia, with a combined 59% share of total imports. Italy, Austria, Hungary and Poland lagged somewhat behind, together comprising a further 35%.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +32.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Slovenia ($X) were the largest aqueous paint and varnish suppliers to Croatia, together comprising 66% of total imports. Serbia, Austria, Hungary and Poland lagged somewhat behind, together comprising a further 25%.

Hungary, with a CAGR of +23.4%, 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, picking up by 4.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2013 when the average import price increased by 16% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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