Norway: 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 Norway

In 2022, the Norwegian non-aqueous paint and varnish market increased by 14% to $X, rising for the sixth year in a row after three years of decline. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +138.6% against 2016 indices. Non-aqueous paint and varnish consumption peaked in 2022 and is likely to continue growth in years to come.

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

Exports from Norway

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium exported from Norway dropped remarkably to X tons, reducing by -16% against the previous year's figure. Over the period under review, exports recorded a abrupt decline. The smallest decline of -0.4% was in 2016. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-aqueous paint and varnish exports shrank to $X in 2022. In general, exports saw a deep reduction. The pace of growth was the most pronounced in 2019 when exports increased by 9.4% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X tons) was the main destination for non-aqueous paint and varnish exports from Norway, accounting for a 42% share of total exports. Moreover, non-aqueous paint and varnish exports to Sweden exceeded the volume sent to the second major destination, Denmark (X tons), twofold. The third position in this ranking was held by Turkey (X tons), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden amounted to -6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-7.7% per year) and Turkey (+10.7% per year).

In value terms, Sweden ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Norway, comprising 34% of total exports. The second position in the ranking was taken by Denmark ($X), with a 17% share of total exports. It was followed by Turkey, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden totaled -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-8.5% per year) and Turkey (+15.7% per year).

Export Prices by Country

In 2022, the average non-aqueous paint and varnish export price amounted to $X per ton, rising by 6.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2019 an increase of 13% against the previous year. The export price peaked 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 the United States ($X per ton), while the average price for exports to Sweden ($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 Chile (+10.4%), 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 Norway

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium imported into Norway reduced to X tons, therefore, remained relatively stable against the previous year's figure. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 6.4% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, non-aqueous paint and varnish imports expanded sharply to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 12%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The UK (X tons), Sweden (X tons) and Germany (X tons) were the main suppliers of non-aqueous paint and varnish imports to Norway, with a combined 69% share of total imports. Poland, Bosnia and Herzegovina, the Netherlands, Italy, Finland, Switzerland, Spain, Belgium, France and Denmark lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Bosnia and Herzegovina (with a CAGR of +16.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Sweden ($X) and Germany ($X) appeared to be the largest non-aqueous paint and varnish suppliers to Norway, with a combined 65% share of total imports. Italy, the Netherlands, Poland, France, Spain, Bosnia and Herzegovina, Finland, Switzerland, Belgium and Denmark lagged somewhat behind, together comprising a further 31%.

Bosnia and Herzegovina, with a CAGR of +17.7%, saw the highest growth rate of the value of imports, among the main suppliers 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, with an increase of 6.2% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 6.6%. The import price peaked 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 France ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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