Portugal: Paint And Varnish Market 2025

Paint And Varnish Market Size in Portugal

The Portuguese paint and varnish market surged to $X in 2022, growing by 15% against the previous year. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Paint And Varnish Production in Portugal

In value terms, paint and varnish production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Paint And Varnish Exports

Exports from Portugal

After two years of growth, shipments abroad of paints and varnishes decreased by -12% to X tons in 2022. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when exports increased by 19%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, paint and varnish exports reached $X in 2022. The total export value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when exports increased by 22% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Spain (X tons), France (X tons) and the Netherlands (X tons) were the main destinations of paint and varnish exports from Portugal, with a combined 62% share of total exports. Poland, Algeria, Italy, Greece, Angola, the UK, Brazil and Turkey lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for Algeria (with a CAGR of +37.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) remains the key foreign market for paints and varnishes exports from Portugal, comprising 37% of total exports. The second position in the ranking was held by France ($X), with a 9.4% share of total exports. It was followed by the Netherlands, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain stood at +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+3.3% per year) and the Netherlands (+3.2% per year).

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2022, rising by 15% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to France ($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 Angola (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Portugal

In 2022, after two years of growth, there was decline in overseas purchases of paints and varnishes, when their volume decreased by -0.7% to X tons. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +11.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 16%. Imports peaked at X tons in 2021, and then shrank modestly in the following year.

In value terms, paint and varnish imports totaled $X in 2022. Overall, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Spain (X tons) constituted the largest paint and varnish supplier to Portugal, accounting for a 52% share of total imports. Moreover, paint and varnish imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.4% per year) and Germany (+5.9% per year).

In value terms, Spain ($X) constituted the largest supplier of paints and varnishes to Portugal, comprising 51% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports. It was followed by Italy, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.4% per year) and Italy (+4.8% per year).

Import Prices by Country

The average paint and varnish import price stood at $X per ton in 2022, picking up by 1.6% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 11%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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