Luxembourg: Paint And Varnish Market 2025

Paint And Varnish Market Size in Luxembourg

After two years of growth, the Luxembourg paint and varnish market decreased by -5.6% to $X in 2022. In general, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +44.7% against 2019 indices. Paint and varnish consumption peaked at $X in 2021, and then reduced in the following year.

Paint And Varnish Exports

Exports from Luxembourg

In 2022, after two years of decline, there was significant growth in shipments abroad of paints and varnishes, when their volume increased by 45% to X tons. In general, exports, however, showed a relatively flat trend pattern. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, paint and varnish exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +60.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 64% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Belgium (X tons), Poland (X tons) and France (X tons) were the main destinations of paint and varnish exports from Luxembourg, with a combined 65% share of total exports. Egypt, Turkey, the United States, Germany, the Netherlands, Spain, the Philippines, Russia, China and Thailand lagged somewhat behind, together accounting for a further 28%.

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 +70.1%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Belgium ($X) and France ($X) constituted the largest markets for paint and varnish exported from Luxembourg worldwide, with a combined 69% share of total exports. The United States, Germany, Turkey, Egypt, the Netherlands, Spain, the Philippines, China, Russia and Thailand lagged somewhat behind, together accounting for a further 22%.

Among the main countries of destination, Egypt, with a CAGR of +43.3%, saw 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

The average paint and varnish export price stood at $X per ton in 2022, rising by 5.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 14%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Egypt ($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 Thailand (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Luxembourg

For the third year in a row, Luxembourg recorded growth in purchases abroad of paints and varnishes, which increased by 21% to X tons in 2022. The total import volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, paint and varnish imports shrank modestly to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 12%. As a result, imports reached the peak of $X, and then dropped modestly in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of paint and varnish to Luxembourg, with a 58% share of total imports. Moreover, paint and varnish imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was held by France (X tons), with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+1.8% per year) and France (+7.5% per year).

In value terms, Germany ($X) constituted the largest supplier of paints and varnishes to Luxembourg, comprising 50% of total imports. The second position in the ranking was taken by Belgium ($X), with a 23% share of total imports. It was followed by France, with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-2.4% per year) and France (+1.5% per year).

Import Prices by Country

In 2022, the average paint and varnish import price amounted to $X per ton, which is down by -20.7% against the previous year. In general, the import price continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2019 an increase of 13% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 ($X per ton), while the price for Germany ($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 Czech Republic (+2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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