Luxembourg: 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 Luxembourg

The Luxembourg non-aqueous paint and varnish market reduced remarkably to $X in 2022, with a decrease of -29.3% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then reduced dramatically in the following year.

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

In value terms, non-aqueous paint and varnish production reduced dramatically to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 502%. Non-aqueous paint and varnish production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

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

Exports from Luxembourg

In 2022, overseas shipments of paints and varnishes dispersed or dissolved in a non-aqueous medium were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, recorded a slight decline. The most prominent rate of growth was recorded in 2018 when exports increased by 83%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, non-aqueous paint and varnish exports surged to $X in 2022. In general, total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +77.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 85%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Poland (X tons), France (X tons) and Belgium (X tons) were the main destinations of non-aqueous paint and varnish exports from Luxembourg, with a combined 72% share of total exports. Turkey, Germany, Iran, Bulgaria, Egypt, Spain, the Philippines, Russia and China lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Egypt (with a CAGR of +42.2%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Luxembourg, comprising 43% of total exports. The second position in the ranking was taken by Belgium ($X), with a 16% share of total exports. It was followed by France, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland amounted to +35.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-2.3% per year) and France (+9.8% per year).

Export Prices by Country

In 2022, the average non-aqueous paint and varnish export price amounted to $X per ton, jumping by 17% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Egypt ($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 Poland (+7.5%), 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 Luxembourg

In 2022, supplies from abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium increased by 12% to X tons, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of +3.9% over the period 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 2013 when imports increased by 25% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, non-aqueous paint and varnish imports reduced to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 13% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

Germany (X tons), Belgium (X tons) and Italy (X tons) were the main suppliers of non-aqueous paint and varnish imports to Luxembourg, together comprising 88% of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +33.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and France ($X) constituted the largest non-aqueous paint and varnish suppliers to Luxembourg, with a combined 80% share of total imports. Italy and the Netherlands lagged somewhat behind, together comprising a further 14%.

In terms of the main suppliers, Italy, with a CAGR of +27.2%, recorded 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

The average non-aqueous paint and varnish import price stood at $X per ton in 2022, reducing by -15.9% against the previous year. Overall, the import price continues to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2018 an increase of 16%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the Netherlands ($X per ton), while the price for Belgium ($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 Netherlands (+0.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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