Scandinavia: Paint And Varnish Market 2024

Paint And Varnish Market Size in Scandinavia

The Scandinavia paint and varnish market reduced slightly to $X in 2022, shrinking by -3.5% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then fell in the following year.

Paint And Varnish Production in Scandinavia

In value terms, paint and varnish production reduced to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by 12% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Paint And Varnish Exports

Exports in Scandinavia

In 2022, overseas shipments of paints and varnishes decreased by -20.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports continue to indicate a slight slump. The most prominent rate of growth was recorded in 2020 when exports increased by 16%. The volume of export peaked at X tons in 2021, and then declined rapidly in the following year.

In value terms, paint and varnish exports contracted to $X in 2022. In general, exports showed a slight shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 11%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden represented the key exporter of paints and varnishes in Scandinavia, with the volume of exports reaching X tons, which was approx. 69% of total exports in 2022. It was distantly followed by Finland (X tons) and Norway (X tons), together committing a 31% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to paint and varnish exports from Sweden stood at -1.1%. Norway experienced a relatively flat trend pattern. Finland (-2.8%) illustrated a downward trend over the same period. Norway (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Finland saw its share reduced by -3.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest paint and varnish supplier in Scandinavia, comprising 67% of total exports. The second position in the ranking was taken by Finland ($X), with a 23% share of total exports.

In Sweden, paint and varnish exports decreased by an average annual rate of -2.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Finland (-1.4% per year) and Norway (+0.6% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, growing by 11% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+1.5%), while the other leaders experienced a decline in the export price figures.

Paint And Varnish Imports

Imports in Scandinavia

In 2022, supplies from abroad of paints and varnishes decreased by -7.2% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 8.8% against the previous year. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, paint and varnish imports fell to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 19%. As a result, imports reached the peak of $X, and then dropped slightly in the following year.

Imports by Country

In 2022, Sweden (X tons) was the largest importer of paints and varnishes, creating 58% of total imports. Norway (X tons) ranks second in terms of the total imports with a 29% share, followed by Finland (13%).

Sweden was also the fastest-growing in terms of the paints and varnishes imports, with a CAGR of +2.2% from 2012 to 2022. Norway and Finland experienced a relatively flat trend pattern. From 2012 to 2022, the share of Sweden increased by +7.6 percentage points.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) were the countries with the highest levels of imports in 2022.

Among the main importing countries, Sweden, with a CAGR of +0.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, rising by 2.8% against the previous year. Over the period under review, 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 9.4% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform