Finland: Paint And Varnish Market 2024

Paint And Varnish Market Size in Finland

In 2022, the Finnish paint and varnish market increased by 16% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Paint And Varnish Production in Finland

In value terms, paint and varnish production declined to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 14% against the previous year. As a result, production attained the peak level of $X, and then fell slightly in the following year.

Paint And Varnish Exports

Exports from Finland

In 2022, after two years of growth, there was significant decline in overseas shipments of paints and varnishes, when their volume decreased by -39% to X tons. Overall, exports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2020 when exports increased by 34% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then declined significantly in the following year.

In value terms, paint and varnish exports shrank significantly to $X in 2022. Over the period under review, exports showed a mild setback. The growth pace was the most rapid in 2019 when exports increased by 12%. Over the period under review, the exports reached the peak figure at $X in 2021, and then shrank notably in the following year.

Exports by Country

Sweden (X tons), Estonia (X tons) and Russia (X tons) were the main destinations of paint and varnish exports from Finland, together accounting for 56% of total exports. Poland, Latvia, China, Lithuania, the UK and Kazakhstan lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +18.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for paint and varnish exported from Finland were Sweden ($X), Russia ($X) and Estonia ($X), together accounting for 54% of total exports. Poland, Latvia, China, Lithuania, Kazakhstan and the UK lagged somewhat behind, together accounting for a further 26%.

Among the main countries of destination, the UK, with a CAGR of +16.1%, recorded the highest rates of growth with regard to 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

The average paint and varnish export price stood at $X per ton in 2022, growing by 27% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2019 an increase of 28%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

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 Kazakhstan ($X per ton), while the average price for exports to Estonia ($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 Kazakhstan (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Finland

In 2022, the amount of paints and varnishes imported into Finland contracted markedly to X tons, shrinking by -27% against 2021 figures. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 59%. 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, paint and varnish imports shrank to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 14% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Sweden (X tons) constituted the largest supplier of paint and varnish to Finland, accounting for a 32% share of total imports. Moreover, paint and varnish imports from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by the UK (X tons), with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sweden stood at -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.0% per year) and the UK (+14.6% per year).

In value terms, Sweden ($X), Germany ($X) and the UK ($X) were the largest paint and varnish suppliers to Finland, together accounting for 67% of total imports. Denmark, Italy, France, the Netherlands and Poland lagged somewhat behind, together accounting for a further 24%.

In terms of the main suppliers, Italy, with a CAGR of +12.8%, recorded 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

In 2022, the average paint and varnish import price amounted to $X per ton, picking up by 20% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 53% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for France ($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 (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :