Finland: 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 Finland

The Finnish non-aqueous paint and varnish market soared to $X in 2022, surging by 26% against the previous year. Over the period under review, consumption posted prominent growth. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in the immediate term.

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

In value terms, non-aqueous paint and varnish production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when the production volume increased by 42%. As a result, production reached the peak level of $X, and then dropped slightly in the following year.

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

Exports from Finland

In 2022, after two years of growth, there was significant decline in shipments abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium, when their volume decreased by -41.1% to X tons. Overall, exports continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2020 when exports increased by 27% against the previous year. The exports peaked at X tons in 2021, and then shrank significantly in the following year.

In value terms, non-aqueous paint and varnish exports reduced rapidly to $X in 2022. Over the period under review, exports saw a mild descent. The most prominent rate of growth was recorded in 2018 when exports increased by 14%. The exports peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

Sweden (X tons), Russia (X tons) and Estonia (X tons) were the main destinations of non-aqueous paint and varnish exports from Finland, with a combined 52% share of total exports. Poland, Latvia, Germany, Lithuania, Kazakhstan, the Netherlands, Ireland, Hungary, Slovakia and France lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +55.9%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Russia ($X) and Estonia ($X) appeared to be the largest markets for non-aqueous paint and varnish exported from Finland worldwide, together accounting for 51% of total exports. Poland, Latvia, Germany, Lithuania, the Netherlands, Kazakhstan, Ireland, France, Hungary and Slovakia lagged somewhat behind, together accounting for a further 37%.

The Netherlands, with a CAGR of +59.4%, saw 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 37% against the previous year. In general, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-aqueous paint and varnish export price increased by +18.8% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Hungary ($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 Germany (+5.7%), 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 Finland

In 2022, purchases abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by -18.2% to X tons, falling for the second year in a row after three years of growth. Overall, imports recorded a mild descent. The pace of growth was the most pronounced in 2020 when imports increased by 9.3% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, non-aqueous paint and varnish imports shrank to $X in 2022. Over the period under review, imports recorded a mild decrease. The pace of growth appeared the most rapid in 2018 with an increase of 17%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Sweden (X tons) constituted the largest non-aqueous paint and varnish supplier to Finland, accounting for a 46% share of total imports. Moreover, non-aqueous paint and varnish imports from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden stood at -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.2% per year) and Italy (+17.4% per year).

In value terms, Sweden ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Finland, comprising 45% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by the UK, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Sweden stood at -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.7% per year) and the UK (+7.6% per year).

Import Prices by Country

In 2022, the average non-aqueous paint and varnish import price amounted to $X per ton, increasing by 11% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 15% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :