Luxembourg: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Luxembourg

In 2021, the Luxembourg market for oil and water paints and varnishes increased by 74% to $X, rising for the third year in a row after two years of decline. In general, consumption posted a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Oil And Water Paints And Varnishes

Exports from Luxembourg

In 2021, shipments abroad of oil and water paints and varnishes increased by 0.5% to X tons, rising for the fourth year in a row after three years of decline. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 1,391% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of oil and water paints and varnishes contracted sharply to $X in 2021. Over the period under review, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 1,101%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Egypt (X tons) was the main destination for exports of oil and water paints and varnishes from Luxembourg, accounting for a 98% share of total exports. It was followed by Belgium (X kg), with a 0.3% share of total exports. The third position in this ranking was taken by France (X kg), with a 0.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt stood at +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-20.5% per year) and France (-17.6% per year).

In value terms, Egypt ($X) remains the key foreign market for oil and water paints and varnishes exports from Luxembourg, comprising 83% of total exports. The second position in the ranking was taken by Belgium ($X), with a 3.6% share of total exports. It was followed by Romania, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Egypt was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-7.5% per year) and Romania (-25.4% per year).

Export Prices by Country

The average export price for oil and water paints and varnishes stood at $X per ton in 2021, waning by -44.4% against the previous year. Overall, the export price saw a deep slump. The pace of growth was the most pronounced in 2013 an increase of 53%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Romania ($X per ton), while the average price for exports to Egypt ($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 Romania (+106.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oil And Water Paints And Varnishes

Imports into Luxembourg

In 2021, purchases abroad of oil and water paints and varnishes increased by 79% to X tons, rising for the third year in a row after two years of decline. In general, imports showed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 83%. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, imports of oil and water paints and varnishes skyrocketed to $X in 2021. Overall, imports saw resilient growth. The growth pace was the most rapid in 2019 with an increase of 66%. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, France (X tons) constituted the largest oil and water paints and varnishes supplier to Luxembourg, accounting for a 66% share of total imports. Moreover, imports of oil and water paints and varnishes from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from France amounted to +42.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.6% per year) and Belgium (-5.0% per year).

In value terms, France ($X), Germany ($X) and Belgium ($X) were the largest oil and water paints and varnishes suppliers to Luxembourg, with a combined 98% share of total imports.

France, with a CAGR of +34.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for oil and water paints and varnishes stood at $X per ton in 2021, waning by -18.7% against the previous year. Overall, the import price recorded a deep contraction. The pace of growth appeared the most rapid in 2018 when the average import price increased by 20% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Belgium ($X per ton), while the price for France ($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 (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :