Finland: Market for Oil And Water Paints And Varnishes 2025

Market Size for Oil And Water Paints And Varnishes in Finland

The Finnish market for oil and water paints and varnishes declined rapidly to $X in 2021, waning by -24.9% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Consumption of peaked at $X in 2020, and then reduced markedly in the following year.

Production of Oil And Water Paints And Varnishes in Finland

In value terms, production of oil and water paints and varnishes shrank sharply to $X in 2021 estimated in export price. Overall, production showed a perceptible curtailment. The pace of growth was the most pronounced in 2020 when the production volume increased by 33% against the previous year. Production of peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Oil And Water Paints And Varnishes

Exports from Finland

In 2021, shipments abroad of oil and water paints and varnishes increased by 2.7% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 18% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of oil and water paints and varnishes expanded rapidly to $X in 2021. In general, exports, however, showed a abrupt slump. The growth pace was the most rapid in 2018 when exports increased by 11%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for exports of oil and water paints and varnishes from Finland, with a 41% share of total exports. Moreover, exports of oil and water paints and varnishes to Sweden exceeded the volume sent to the second major destination, Estonia (X tons), threefold. Russia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden stood at -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+1.2% per year) and Russia (-17.9% per year).

In value terms, the largest markets for oil and water paints and varnishes exported from Finland were Sweden ($X), Russia ($X) and Estonia ($X), together comprising 71% of total exports. Poland, Latvia, Belarus, the United States and Germany lagged somewhat behind, together accounting for a further 21%.

Among the main countries of destination, the United States, with a CAGR of +36.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for oil and water paints and varnishes amounted to $X per ton, surging by 5.9% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 53%. The export price peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oil And Water Paints And Varnishes

Imports into Finland

Imports of oil and water paints and varnishes into Finland declined to X tons in 2021, with a decrease of -6.1% on the year before. Over the period under review, imports showed a noticeable descent. The growth pace was the most rapid in 2016 with an increase of 18% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, imports of oil and water paints and varnishes surged to $X in 2021. Overall, imports recorded a slight setback. Over the period under review, imports of hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Sweden (X tons) constituted the largest oil and water paints and varnishes supplier to Finland, with a 49% share of total imports. Moreover, imports of oil and water paints and varnishes from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Estonia (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Sweden was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.4% per year) and Estonia (+17.9% per year).

In value terms, the largest oil and water paints and varnishes suppliers to Finland were Germany ($X), Sweden ($X) and Belgium ($X), together accounting for 78% of total imports.

Among the main suppliers, Belgium, with a CAGR of +36.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for oil and water paints and varnishes stood at $X per ton in 2021, rising by 26% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2013 when the average import price increased by 34% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Estonia ($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 (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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