Norway: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2024

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Norway

The Norwegian market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X in 2022, picking up by 2.1% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Norway

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium reduced slightly to $X in 2022 estimated in export price. Overall, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +67.1% against 2013 indices. The most prominent rate of growth was recorded in 2018 with an increase of 27% against the previous year. Over the period under review, production of hit record highs at $X in 2021, and then declined in the following year.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports from Norway

After eight years of growth, shipments abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium decreased by -12.9% to X tons in 2022. Overall, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 22%. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium fell to $X in 2022. Over the period under review, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 27% against the previous year. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

Sweden (X tons), Denmark (X tons) and Iceland (X tons) were the main destinations of exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Norway, with a combined 93% share of total exports. Germany lagged somewhat behind, comprising a further 1.6%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +25.9%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exports from Norway, comprising 58% of total exports. The second position in the ranking was held by Denmark ($X), with a 29% share of total exports. It was followed by Iceland, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden totaled +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+9.5% per year) and Iceland (+4.3% per year).

Export Prices by Country

The average export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, rising by 6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 15%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Denmark ($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 Germany (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports into Norway

Imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium into Norway fell modestly to X tons in 2022, waning by -2% against the previous year. In general, imports recorded a noticeable decline. The pace of growth appeared the most rapid in 2016 with an increase of 5.4%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium shrank to $X in 2022. Overall, imports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Sweden (X tons) constituted the largest supplier of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Norway, with a 74% share of total imports. Moreover, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Sweden exceeded the figures recorded by the second-largest supplier, Denmark (X tons), more than tenfold. The third position in this ranking was taken by Finland (X tons), with a 5% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-11.8% per year) and Finland (-2.5% per year).

In value terms, Sweden ($X) constituted the largest supplier of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Norway, comprising 60% of total imports. The second position in the ranking was taken by Italy ($X), with a 9.7% share of total imports. It was followed by Denmark, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value from Sweden totaled -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+19.8% per year) and Denmark (-8.4% per year).

Import Prices by Country

The average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, approximately equating the previous year. Overall, the import price, however, showed a mild decline. The most prominent rate of growth was recorded in 2021 an increase of 19% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 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 Italy ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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