Eastern Europe: Paint And Varnish Market 2024

Paint And Varnish Market Size in Eastern Europe

In 2022, the East European paint and varnish market decreased by -6.1% to $X, falling for the second consecutive year after four years of growth. Overall, consumption saw a perceptible downturn. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Paint And Varnish Production in Eastern Europe

In value terms, paint and varnish production amounted to $X in 2022 estimated in export price. In general, production recorded a mild decline. The pace of growth was the most pronounced in 2017 when the production volume increased by 19%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Paint And Varnish Exports

Exports in Eastern Europe

In 2022, exports of paints and varnishes in Eastern Europe dropped to X tons, which is down by -9.6% against 2021. The total export volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 11%. The volume of export peaked at X tons in 2021, and then declined in the following year.

In value terms, paint and varnish exports contracted to $X in 2022. Total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +58.6% against 2015 indices. The pace of growth was the most pronounced in 2021 with an increase of 21% against the previous year. As a result, the exports attained the peak of $X, and then shrank modestly in the following year.

Exports by Country

Poland represented the largest exporting country with an export of around X tons, which accounted for 44% of total exports. Russia (X tons) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by the Czech Republic (11%) and Belarus (7.8%). Estonia (X tons), Lithuania (X tons) and Hungary (X tons) followed a long way behind the leaders.

Poland was also the fastest-growing in terms of the paints and varnishes exports, with a CAGR of +6.6% from 2012 to 2022. At the same time, Russia (+3.9%), the Czech Republic (+3.4%) and Belarus (+2.7%) displayed positive paces of growth. Hungary and Lithuania experienced a relatively flat trend pattern. By contrast, Estonia (-1.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Poland increased by +10 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest paint and varnish supplier in Eastern Europe, comprising 53% of total exports. The second position in the ranking was held by Russia ($X), with an 11% share of total exports. It was followed by the Czech Republic, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Poland totaled +7.5%. In the other countries, the average annual rates were as follows: Russia (+2.5% per year) and the Czech Republic (+5.6% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, with an increase of 5.6% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 13% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+2.2%), while the other leaders experienced more modest paces of growth.

Paint And Varnish Imports

Imports in Eastern Europe

In 2022, approx. X tons of paints and varnishes were imported in Eastern Europe; with a decrease of -7.4% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 6.6% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, paint and varnish imports contracted to $X in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 17% against the previous year. As a result, imports attained the peak of $X, and then dropped modestly in the following year.

Imports by Country

Poland (X tons) and Russia (X tons) were the largest importers of paints and varnishes in 2022, accounting for approx. 22% and 22% of total imports, respectively. The Czech Republic (X tons) ranks next in terms of the total imports with a 12% share, followed by Romania (8.7%), Slovakia (6.6%), Hungary (6.6%), Belarus (5.6%) and Lithuania (4.8%). Estonia (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Belarus (with a CAGR of +7.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and the Czech Republic ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 59% of total imports. Romania, Hungary, Slovakia, Belarus, Lithuania and Estonia lagged somewhat behind, together comprising a further 33%.

Belarus, with a CAGR of +7.2%, recorded the highest growth rate of the value of imports, in terms of 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 2022, with an increase of 3% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 9.5%. Over the period under review, import prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Poland ($X per ton) and the Czech Republic ($X per ton), while Estonia ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :