Europe: Paint And Varnish Market 2024

Paint And Varnish Market Size in Europe

The Europe paint and varnish market shrank to $X in 2022, remaining constant against the previous year. Over the period under review, consumption, however, saw a mild descent. The pace of growth appeared the most rapid in 2020 with an increase of 5.5%. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Paint And Varnish Production in Europe

In value terms, paint and varnish production stood at $X in 2022 estimated in export price. In general, production showed a mild decline. The pace of growth appeared the most rapid in 2020 when the production volume increased by 6.5%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Paint And Varnish Exports

Exports in Europe

In 2022, after six years of growth, there was significant decline in overseas shipments of paints and varnishes, when their volume decreased by -8.6% to X tons. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 7.1% against the previous year. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, paint and varnish exports dropped to $X in 2022. The total export value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 19% against the previous year. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

In 2022, Germany (X tons), distantly followed by Italy (X tons), the Netherlands (X tons), France (X tons), the UK (X tons), Spain (X tons) and Poland (X tons) represented the main exporters of paints and varnishes, together constituting 71% of total exports. Sweden (X tons), Belgium (X tons), Russia (X tons), Austria (X tons), Denmark (X tons) and Greece (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +6.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest paint and varnish supplier in Europe, comprising 27% of total exports. The second position in the ranking was taken by Italy ($X), with a 13% share of total exports. It was followed by the Netherlands, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value in Germany totaled +1.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+3.1% per year) and the Netherlands (+1.9% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, increasing by 2.9% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 12% against the previous year. The level of export peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+1.7%), while the other leaders experienced more modest paces of growth.

Paint And Varnish Imports

Imports in Europe

After two years of growth, overseas purchases of paints and varnishes decreased by -6.6% to X tons in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 6.6%. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, paint and varnish imports shrank modestly to $X in 2022. The total import value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. As a result, imports reached the peak of $X, and then shrank modestly in the following year.

Imports by Country

The countries with the highest levels of paint and varnish imports in 2022 were Germany (X tons), France (X tons), the Netherlands (X tons), Poland (X tons), Russia (X tons), the UK (X tons), Belgium (X tons), Spain (X tons), Italy (X tons), the Czech Republic (X tons), Austria (X tons) and Sweden (X tons), together accounting for 70% of total import. Romania (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Poland (with a CAGR of +3.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Poland ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 26% of total imports. Italy, the Netherlands, Russia, Spain, the UK, Belgium, the Czech Republic, Austria, Sweden and Romania lagged somewhat behind, together accounting for a further 48%.

Italy, with a CAGR of +5.6%, saw 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 Europe stood at $X per ton in 2022, picking up by 2.6% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 10%. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the Netherlands ($X per ton) was 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