Portugal: Market for Oil And Water Paints And Varnishes 2025

Market Size for Oil And Water Paints And Varnishes in Portugal

The Portuguese market for oil and water paints and varnishes soared to $X in 2021, with an increase of 21% against the previous year. Over the period under review, consumption continues to indicate a mild increase. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Oil And Water Paints And Varnishes in Portugal

In value terms, production of oil and water paints and varnishes declined sharply to $X in 2021 estimated in export price. Overall, production showed a abrupt contraction. The growth pace was the most rapid in 2014 when the production volume increased by 26%. As a result, production attained the peak level of $X. From 2015 to 2021, production of growth remained at a somewhat lower figure.

Exports of Oil And Water Paints And Varnishes

Exports from Portugal

After two years of decline, shipments abroad of oil and water paints and varnishes increased by 12% to X tons in 2021. Over the period under review, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 36%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of oil and water paints and varnishes expanded notably to $X in 2021. Overall, exports, however, continue to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 94% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Spain (X tons), Angola (X tons) and Cabo Verde (X tons) were the main destinations of exports of oil and water paints and varnishes from Portugal, with a combined 77% share of total exports. These countries were followed by Benin, France, Ecuador, Turkey and Guinea-Bissau, which together accounted for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +607.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) remains the key foreign market for oil and water paints and varnishes exports from Portugal, comprising 61% of total exports. The second position in the ranking was held by Angola ($X), with a 9.7% share of total exports. It was followed by France, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value to Spain stood at +23.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-22.3% per year) and France (+109.7% per year).

Export Prices by Country

In 2021, the average export price for oil and water paints and varnishes amounted to $X per ton, with an increase of 1.6% against the previous year. In general, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for oil and water paints and varnishes increased by +19.6% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 42%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Benin ($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 Guinea-Bissau (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oil And Water Paints And Varnishes

Imports into Portugal

In 2021, the amount of oil and water paints and varnishes imported into Portugal rose notably to X tons, picking up by 10% against the previous year's figure. In general, imports, however, showed a perceptible slump. The pace of growth was the most pronounced in 2020 with an increase of 30%. Over the period under review, imports of reached the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, imports of oil and water paints and varnishes skyrocketed to $X in 2021. Overall, imports, however, showed a perceptible slump. Over the period under review, imports of reached the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X tons), Spain (X tons) and Germany (X tons) were the main suppliers of imports of oil and water paints and varnishes to Portugal, together comprising 91% of total imports. These countries were followed by the Netherlands, Belgium and France, which together accounted for a further 7.9%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +70.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Spain ($X) and Germany ($X) appeared to be the largest oil and water paints and varnishes suppliers to Portugal, together comprising 77% of total imports. The Netherlands, France and Belgium lagged somewhat behind, together comprising a further 21%.

Belgium, with a CAGR of +70.5%, saw the highest rates of growth with regard to 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 import price for oil and water paints and varnishes stood at $X per ton in 2021, picking up by 15% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was France ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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