Eastern Europe: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Eastern Europe

In 2021, the East European market for oil and water paints and varnishes decreased by -28.8% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption showed a perceptible slump. The growth pace was the most rapid in 2019 when the market value increased by 9.2% against the previous year. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Oil And Water Paints And Varnishes in Eastern Europe

In value terms, production of oil and water paints and varnishes contracted dramatically to $X in 2021 estimated in export price. Overall, production recorded a deep reduction. The pace of growth appeared the most rapid in 2019 when the production volume increased by 22% against the previous year. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Oil And Water Paints And Varnishes

Exports in Eastern Europe

For the fifth consecutive year, Eastern Europe recorded growth in shipments abroad of oil and water paints and varnishes, which increased by 16% to X tons in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +102.4% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 48% against the previous year. Over the period under review, the exports of reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, exports of oil and water paints and varnishes surged to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +117.3% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 35% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the near future.

Exports by Country

Belarus (X tons) and Poland (X tons) represented the major exporters of oil and water paints and varnishes in 2021, finishing at approx. 36% and 31% of total exports, respectively. Russia (X tons) ranks next in terms of the total exports with an 18% share, followed by Estonia (5.5%). Hungary (X tons), Lithuania (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +21.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) remains the largest oil and water paints and varnishes supplier in Eastern Europe, comprising 47% of total exports. The second position in the ranking was held by Belarus ($X), with a 20% share of total exports. It was followed by Russia, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Poland amounted to +22.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (+17.0% per year) and Russia (-0.5% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, increasing by 12% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 29% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the Czech Republic ($X per ton), while Belarus ($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 Czech Republic (+9.0%), while the other leaders experienced more modest paces of growth.

Imports of Oil And Water Paints And Varnishes

Imports in Eastern Europe

For the fifth year in a row, Eastern Europe recorded growth in supplies from abroad of oil and water paints and varnishes, which increased by 2.1% to X tons in 2021. The total import volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 15% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, imports of oil and water paints and varnishes surged to $X in 2021. Total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% 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 +66.0% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of oil and water paints and varnishes, namely Poland, Russia and Romania, represented more than half of total import. It was distantly followed by Ukraine (X tons), Hungary (X tons) and Estonia (X tons), together generating a 16% share of total imports. The Czech Republic (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Romania (with a CAGR of +9.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and Romania ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 64% of total imports. These countries were followed by the Czech Republic, Ukraine, Hungary and Estonia, which together accounted for a further 24%.

The Czech Republic, with a CAGR of +10.3%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, surging by 17% against the previous year. In general, the import price saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Czech Republic ($X per ton), while Romania ($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 Czech Republic (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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