Portugal: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Portugal

In 2021, the Portuguese aqueous paint and varnish market decreased by -4.9% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Aqueous paint and varnish consumption peaked at $X in 2020, and then reduced in the following year.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Portugal

In value terms, aqueous paint and varnish production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 9.8% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then reduced in the following year.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports from Portugal

Aqueous paint and varnish exports from Portugal rose rapidly to X tons in 2021, surging by 12% against 2020. Overall, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +106.5% against 2013 indices. The pace of growth was the most pronounced in 2020 when exports increased by 34% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, aqueous paint and varnish exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 21%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

France (X tons), Spain (X tons) and Sao Tome and Principe (X tons) were the main destinations of aqueous paint and varnish exports from Portugal, together accounting for 89% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sao Tome and Principe (with a CAGR of +14.0%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), France ($X) and Angola ($X) constituted the largest markets for aqueous paint and varnish exported from Portugal worldwide, with a combined 79% share of total exports. These countries were followed by Sao Tome and Principe, which accounted for a further 2%.

Sao Tome and Principe, with a CAGR of +10.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average aqueous paint and varnish export price stood at $X per ton in 2021, rising by 5.1% against the previous year. Overall, the export price, however, saw a pronounced decrease. The growth pace was the most rapid in 2013 when the average export price increased by 17%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Angola ($X per ton), while the average price for exports to France ($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 Angola (+6.5%), while the prices for the other major destinations experienced a decline.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports into Portugal

In 2021, imports of paints and varnishes dispersed or dissolved in an aqueous medium into Portugal skyrocketed to X tons, rising by 19% compared with the previous year's figure. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +11.2% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish imports surged to $X in 2021. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of aqueous paint and varnish to Portugal, accounting for a 51% share of total imports. Moreover, aqueous paint and varnish imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain totaled +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+21.7% per year) and Germany (+2.9% per year).

In value terms, Spain ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in an aqueous medium to Portugal, comprising 52% of total imports. The second position in the ranking was held by Germany ($X), with a 16% share of total imports. It was followed by Italy, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain amounted to +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.8% per year) and Italy (+5.9% per year).

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, rising by 14% against the previous year. Overall, the import price, however, continues to indicate a pronounced downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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