Ireland: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Ireland

The Irish aqueous paint and varnish market rose significantly to $X in 2021, increasing by 7.2% against the previous year. Over the period under review, consumption saw a perceptible descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Ireland

In value terms, aqueous paint and varnish production expanded slightly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt decrease. The growth pace was the most rapid in 2018 when the production volume increased by 16%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports from Ireland

In 2021, after two years of decline, there was significant growth in shipments abroad of paints and varnishes dispersed or dissolved in an aqueous medium, when their volume increased by 23% to X tons. In general, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 121% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, aqueous paint and varnish exports skyrocketed to $X in 2021. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2016 with an increase of 120% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

The UK (X tons) was the main destination for aqueous paint and varnish exports from Ireland, with a approx. 97% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to +23.6%.

In value terms, the UK ($X) also remains the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from Ireland.

From 2012 to 2021, the average annual growth rate of value to the UK totaled +32.2%.

Export Prices by Country

In 2021, the average aqueous paint and varnish export price amounted to $X per ton, with an increase of 29% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aqueous paint and varnish export price increased by +31.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 34%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2012 to 2021, the rate of growth in terms of prices for the UK amounted to +7.0% per year.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports into Ireland

In 2021, approx. X tons of paints and varnishes dispersed or dissolved in an aqueous medium were imported into Ireland; waning by -8.9% against 2020 figures. Overall, imports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of 43% against the previous year. Imports peaked at X tons in 2020, and then contracted in the following year.

In value terms, aqueous paint and varnish imports surged to $X in 2021. In general, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +9.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +40.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 32% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, the UK (X tons) constituted the largest supplier of aqueous paint and varnish to Ireland, with a 87% share of total imports. Moreover, aqueous paint and varnish imports from the UK exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from the UK stood at +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.9% per year) and France (+2.5% per year).

In value terms, the UK ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in an aqueous medium to Ireland, comprising 76% of total imports. The second position in the ranking was held by Germany ($X), with a 7.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK amounted to +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.4% per year) and France (-1.7% per year).

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, with an increase of 30% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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