Norway: Paint And Varnish Market 2025

Paint And Varnish Market Size in Norway

In 2022, the Norwegian paint and varnish market decreased by -5.7% to $X for the first time since 2016, thus ending a five-year rising trend. Overall, consumption, however, showed a relatively flat trend pattern. Paint and varnish consumption peaked at $X in 2021, and then dropped in the following year.

Paint And Varnish Production in Norway

In value terms, paint and varnish production fell modestly to $X in 2022 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 27% against the previous year. Over the period under review, production hit record highs at $X in 2021, and then contracted slightly in the following year.

Paint And Varnish Exports

Exports from Norway

After two years of growth, shipments abroad of paints and varnishes decreased by -12% to X tons in 2022. In general, exports, however, showed a slight expansion. The most prominent rate of growth was recorded in 2018 with an increase of 13% against the previous year. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, paint and varnish exports declined to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 20%. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Sweden (X tons), Denmark (X tons) and Turkey (X tons) were the main destinations of paint and varnish exports from Norway, together accounting for 80% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +24.5%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for paints and varnishes exports from Norway, comprising 43% of total exports. The second position in the ranking was held by Denmark ($X), with a 21% share of total exports. It was followed by Turkey, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to Sweden amounted to +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+0.1% per year) and Turkey (+24.8% per year).

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2022, with an increase of 5.8% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 6.2%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Denmark ($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 Chile (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Norway

Paint and varnish imports into Norway declined slightly to X tons in 2022, approximately reflecting 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 4.1% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, paint and varnish imports stood at $X in 2022. Over the period under review, imports continue to indicate a slight decline. The most prominent rate of growth was recorded in 2021 when imports increased by 12% against the previous year. Over the period under review, imports attained 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 paint and varnish to Norway, accounting for a 49% share of total imports. Moreover, paint and varnish imports from Sweden exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden amounted to -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-0.6% per year) and Germany (+4.2% per year).

In value terms, Sweden ($X), the UK ($X) and Germany ($X) appeared to be the largest paint and varnish suppliers to Norway, together accounting for 66% of total imports. Italy, Denmark, the Netherlands, Finland and Poland lagged somewhat behind, together comprising a further 22%.

In terms of the main suppliers, Italy, with a CAGR of +13.7%, 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

In 2022, the average paint and varnish import price amounted to $X per ton, with an increase of 2.9% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 14%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 ($X per ton), while the price for Sweden ($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 (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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