Greece: 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 Greece

The Greek non-aqueous paint and varnish market soared to $X in 2022, jumping by 45% against the previous year. Over the period under review, consumption showed a buoyant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

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

In value terms, non-aqueous paint and varnish production soared to $X in 2022 estimated in export price. In general, production saw a buoyant increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

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

Exports from Greece

In 2022, overseas shipments of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by -3.2% to X tons, falling for the second year in a row after five years of growth. Over the period under review, total exports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -5.4% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 21% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, non-aqueous paint and varnish exports totaled $X in 2022. Overall, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.2% against 2015 indices. The growth pace was the most rapid in 2018 when exports increased by 22%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Turkey (X tons), Israel (X tons) and Serbia (X tons) were the main destinations of non-aqueous paint and varnish exports from Greece, with a combined 24% share of total exports. Cyprus, India, Marshall Islands, Bulgaria, Panama, Romania, Albania, Germany, Spain and Russia lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +120.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-aqueous paint and varnish exported from Greece were Turkey ($X), Marshall Islands ($X) and Cyprus ($X), together comprising 22% of total exports. Serbia, Israel, Panama, Bulgaria, Germany, India, Romania, Russia, Spain and Albania lagged somewhat behind, together accounting for a further 35%.

Among the main countries of destination, Panama, with a CAGR of +122.6%, 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

In 2022, the average non-aqueous paint and varnish export price amounted to $X per ton, picking up by 5.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 13%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Marshall Islands ($X per ton), while the average price for exports to India ($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 Marshall Islands (+4.4%), 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 Greece

In 2022, imports of paints and varnishes dispersed or dissolved in a non-aqueous medium into Greece rose slightly to X tons, with an increase of 3.3% compared with 2021 figures. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.3% against 2014 indices. The most prominent rate of growth was recorded in 2014 with an increase of 24% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, non-aqueous paint and varnish imports rose markedly to $X in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.4% against 2015 indices. The pace of growth was the most pronounced in 2017 with an increase of 21%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), France (X tons) and the Netherlands (X tons) were the main suppliers of non-aqueous paint and varnish imports to Greece, with a combined 59% share of total imports. The UK, Germany, Spain, Poland, Portugal and Belgium lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +22.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-aqueous paint and varnish suppliers to Greece were France ($X), Italy ($X) and the Netherlands ($X), together accounting for 60% of total imports. Germany, the UK, Spain, Portugal, Poland and Belgium lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, Spain, with a CAGR of +19.2%, saw the highest growth rate of 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 non-aqueous paint and varnish import price amounted to $X per ton, surging by 4.8% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 12% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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