EU: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in the EU

The EU market for oil and water paints and varnishes contracted to $X in 2021, dropping by -7% against the previous year. In general, consumption saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 7.4% against the previous year. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Oil And Water Paints And Varnishes in the EU

In value terms, production of oil and water paints and varnishes fell to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 9.1%. Over the period under review, production of hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Oil And Water Paints And Varnishes

Exports in the EU

After four years of decline, shipments abroad of oil and water paints and varnishes increased by 12% to X tons in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of oil and water paints and varnishes skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) and Italy (X tons) represented the main exporters of oil and water paints and varnishes in 2021, resulting at approx. 31% and 22% of total exports, respectively. Spain (X tons) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Belgium (8.1%), the Netherlands (6.4%) and Poland (6.3%). Sweden (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Poland (with a CAGR of +21.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest oil and water paints and varnishes supplier in the European Union, comprising 41% of total exports. The second position in the ranking was held by Italy ($X), with a 16% share of total exports. It was followed by the Netherlands, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Germany totaled +5.1%. In the other countries, the average annual rates were as follows: Italy (+2.1% per year) and the Netherlands (-5.0% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, picking up by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Sweden ($X per ton), while Spain ($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 Netherlands (+5.4%), while the other leaders experienced more modest paces of growth.

Imports of Oil And Water Paints And Varnishes

Imports in the EU

In 2021, purchases abroad of oil and water paints and varnishes increased by 10% to X tons, rising for the fifth year in a row after two years of decline. The total import volume increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when imports increased by 11%. Over the period under review, imports of reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, imports of oil and water paints and varnishes surged to $X in 2021. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the six major importers of oil and water paints and varnishes, namely Spain, Poland, France, Romania, Austria and Italy, represented more than half of total import. It was distantly followed by Germany (X tons), comprising a 5.1% share of total imports. Belgium (X tons), Portugal (X tons), Denmark (X tons), the Netherlands (X tons), Hungary (X tons) and Estonia (X tons) held a little share of total imports.

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, the largest oil and water paints and varnishes importing markets in the European Union were Poland ($X), Spain ($X) and France ($X), with a combined 33% share of total imports. These countries were followed by Germany, Austria, Italy, Romania, Belgium, the Netherlands, Denmark, Portugal, Hungary and Estonia, which together accounted for a further 48%.

Romania, with a CAGR of +10.1%, saw the highest rates of growth with regard to 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 the European Union stood at $X per ton in 2021, rising by 7.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 11% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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