Spain: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2024

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Spain

In 2022, the Spanish market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium decreased by -2.3% to $X, falling for the third year in a row after four years of growth. The market value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 9.3%. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Spain

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2013 with an increase of 9.1%. Over the period under review, production of reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports from Spain

For the third year in a row, Spain recorded growth in shipments abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium, which increased by 5% to X tons in 2022. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +8.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +123.3% against 2012 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 29% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium rose slightly to $X in 2022. In general, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +35.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Portugal (X tons) was the main destination for exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Spain, with a 32% share of total exports. Moreover, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Portugal exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was held by the Dominican Republic (X tons), with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to Portugal amounted to +9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+4.0% per year) and the Dominican Republic (+21.3% per year).

In value terms, the largest markets for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exported from Spain were Portugal ($X), France ($X) and the Dominican Republic ($X), with a combined 47% share of total exports. Germany, Cuba, the UK, the Netherlands, Ecuador, Denmark, Italy, Poland, Senegal and Algeria lagged somewhat behind, together comprising a further 29%.

In terms of the main countries of destination, Denmark, with a CAGR of +189.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, falling by -1.8% against the previous year. In general, the export price showed a mild shrinkage. The pace of growth was the most pronounced in 2017 when the average export price increased by 9.7% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Italy ($X per ton), while the average price for exports to the Dominican Republic ($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 Italy (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports into Spain

Imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium into Spain shrank to X tons in 2022, with a decrease of -14.5% against 2021. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 39%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium contracted to $X in 2022. The total import value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 11%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Italy (X tons), France (X tons) and Germany (X tons) were the main suppliers of imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Spain, together comprising 62% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +15.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium suppliers to Spain were Italy ($X), France ($X) and Germany ($X), together comprising 63% of total imports.

Italy, with a CAGR of +9.8%, 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 paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, rising by 11% against the previous year. Overall, the import price, however, saw a mild shrinkage. The growth pace was the most rapid in 2021 when the average import price increased by 14%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Belgium ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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