Luxembourg: 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 Luxembourg

In 2021, after two years of decline, there was significant growth in the Luxembourg aqueous paint and varnish market, when its value increased by 21% to $X. The market value increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2021 and is likely to continue growth in years to come.

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

Exports from Luxembourg

Aqueous paint and varnish exports from Luxembourg fell to X tons in 2021, reducing by -12.8% against 2020 figures. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 25% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, aqueous paint and varnish exports fell to $X in 2021. The total export value increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 18%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Belgium (X tons) was the main destination for aqueous paint and varnish exports from Luxembourg, accounting for a 58% share of total exports. Moreover, aqueous paint and varnish exports to Belgium exceeded the volume sent to the second major destination, France (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-2.1% per year) and the Netherlands (+0.6% per year).

In value terms, Belgium ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from Luxembourg, comprising 64% of total exports. The second position in the ranking was held by France ($X), with a 16% share of total exports. It was followed by the Netherlands, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium stood at +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-5.4% per year) and the Netherlands (+0.1% per year).

Export Prices by Country

In 2021, the average aqueous paint and varnish export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.3% 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 decreased by -7.8% against 2019 indices. The growth pace was the most rapid in 2018 when the average export price increased by 39%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Turkey ($X per ton), while the average price for exports to France ($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 Turkey (+21.6%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Luxembourg

After two years of decline, purchases abroad of paints and varnishes dispersed or dissolved in an aqueous medium increased by 20% to X tons in 2021. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when imports increased by 43% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, aqueous paint and varnish imports rose notably to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 20% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of aqueous paint and varnish to Luxembourg, with a 76% share of total imports. Moreover, aqueous paint and varnish imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), eightfold. The third position in this ranking was taken by the Netherlands (X tons), with a 4% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-7.2% per year) and the Netherlands (+30.0% per year).

In value terms, Germany ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in an aqueous medium to Luxembourg, comprising 66% of total imports. The second position in the ranking was taken by Belgium ($X), with a 20% share of total imports. It was followed by the Netherlands, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-5.7% per year) and the Netherlands (+20.8% per year).

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, waning by -5.1% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 16% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :