Croatia: Paint And Varnish Market 2025

Paint And Varnish Market Size in Croatia

After two years of decline, the Croatian paint and varnish market increased by 36% to $X in 2022. The market value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Paint And Varnish Production in Croatia

In value terms, paint and varnish production skyrocketed to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Paint And Varnish Exports

Exports from Croatia

In 2022, after two years of growth, there was significant decline in overseas shipments of paints and varnishes, when their volume decreased by -7.7% to X tons. The total export volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 26%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, paint and varnish exports expanded remarkably to $X in 2022. Over the period under review, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +91.9% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 36% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

Turkey (X tons) was the main destination for paint and varnish exports from Croatia, accounting for a 31% share of total exports. Moreover, paint and varnish exports to Turkey exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), threefold. The third position in this ranking was taken by Slovenia (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey totaled +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (-5.5% per year) and Slovenia (+11.3% per year).

In value terms, Turkey ($X) remains the key foreign market for paints and varnishes exports from Croatia, comprising 38% of total exports. The second position in the ranking was taken by Italy ($X), with a 13% share of total exports. It was followed by Serbia, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey stood at +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+27.6% per year) and Serbia (+1.1% per year).

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2022, picking up by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2021 an increase of 19% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to North Macedonia ($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 Italy (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Croatia

In 2022, after four years of growth, there was significant decline in purchases abroad of paints and varnishes, when their volume decreased by -9.8% to X tons. Overall, total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.6% 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 +43.0% against 2013 indices. The growth pace was the most rapid in 2021 when imports increased by 20%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, paint and varnish imports amounted to $X in 2022. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its value 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 +68.9% against 2015 indices. The pace of growth was the most pronounced in 2021 when imports increased by 18%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Italy (X tons) and Slovenia (X tons) were the main suppliers of paint and varnish imports to Croatia, together accounting for 66% of total imports. Serbia, Austria, the Czech Republic, Hungary and Poland lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +19.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest paint and varnish suppliers to Croatia were Germany ($X), Italy ($X) and Slovenia ($X), with a combined 71% share of total imports. The Czech Republic, Austria, Poland, Serbia and Hungary lagged somewhat behind, together accounting for a further 16%.

The Czech Republic, with a CAGR of +29.7%, recorded the highest rates of growth with regard to 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

In 2022, the average paint and varnish import price amounted to $X per ton, growing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2013 when the average import price increased by 13%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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