Estonia: 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 Estonia

The Estonian non-aqueous paint and varnish market expanded slightly to $X in 2022, with an increase of 4.3% against the previous year. In general, consumption enjoyed a strong increase. Non-aqueous paint and varnish consumption peaked in 2022 and is expected to retain growth in years to come.

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

In value terms, non-aqueous paint and varnish production surged to $X in 2022 estimated in export price. Over the period under review, production recorded a deep contraction. Non-aqueous paint and varnish production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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

Exports from Estonia

After two years of growth, shipments abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by -27.2% to X tons in 2022. In general, exports showed a pronounced reduction. The growth pace was the most rapid in 2018 when exports increased by 16% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-aqueous paint and varnish exports shrank dramatically to $X in 2022. Over the period under review, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons), Lithuania (X tons) and Latvia (X tons) were the main destinations of non-aqueous paint and varnish exports from Estonia, together accounting for 64% of total exports. Sweden, Germany, Kazakhstan, France, Ukraine, the Netherlands, Belarus, the UK, Armenia and Denmark lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +139.8%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Russia ($X) and Latvia ($X) were the largest markets for non-aqueous paint and varnish exported from Estonia worldwide, together comprising 64% of total exports. Sweden, Kazakhstan, Germany, France, Ukraine, the Netherlands, Armenia, Belarus, the UK and Denmark lagged somewhat behind, together comprising a further 30%.

The UK, with a CAGR of +92.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, growing by 7.9% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 18% against the previous year. Over the period under review, the average export prices hit record highs 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 Denmark ($X per ton), while the average price for exports to Russia ($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 Denmark (+20.6%), 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 Estonia

In 2022, non-aqueous paint and varnish imports into Estonia fell to X tons, with a decrease of -6% on 2021. Over the period under review, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 +13.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 20%. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, non-aqueous paint and varnish imports fell modestly to $X in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 30% against the previous year. As a result, imports reached the peak of $X, and then shrank slightly in the following year.

Imports by Country

In 2022, Finland (X tons) constituted the largest supplier of non-aqueous paint and varnish to Estonia, accounting for a 32% share of total imports. Moreover, non-aqueous paint and varnish imports from Finland exceeded the figures recorded by the second-largest supplier, Sweden (X tons), twofold. Lithuania (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Finland amounted to +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-1.0% per year) and Lithuania (+38.6% per year).

In value terms, Finland ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Estonia, comprising 31% of total imports. The second position in the ranking was taken by Lithuania ($X), with a 12% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Finland amounted to +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+29.5% per year) and Germany (+3.6% per year).

Import Prices by Country

The average non-aqueous paint and varnish import price stood at $X per ton in 2022, picking up by 1.8% against the previous year. Overall, the import price, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2013 when the average import price increased by 12% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Sweden ($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 (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform