Spain: Paint And Varnish Market 2025

Paint And Varnish Market Size in Spain

In 2022, after three years of decline, there was significant growth in the Spanish paint and varnish market, when its value increased by 112% to $X. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Paint And Varnish Production in Spain

In value terms, paint and varnish production surged to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Paint And Varnish Exports

Exports from Spain

In 2022, the amount of paints and varnishes exported from Spain contracted to X tons, which is down by -2.3% compared with the previous year's figure. The total export volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 13% against the previous year. As a result, the exports reached the peak of X tons, and then fell modestly in the following year.

In value terms, paint and varnish exports rose slightly to $X in 2022. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 24%. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

France (X tons), Portugal (X tons) and Germany (X tons) were the main destinations of paint and varnish exports from Spain, with a combined 39% share of total exports. Italy, Poland, the UK, the Netherlands, Turkey, Morocco, Cuba, the Czech Republic, Belgium and the Dominican Republic lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +20.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for paint and varnish exported from Spain were France ($X), Portugal ($X) and Germany ($X), together accounting for 40% of total exports. Italy, Poland, the Netherlands, the UK, Turkey, Morocco, Belgium, Cuba, the Czech Republic and the Dominican Republic lagged somewhat behind, together accounting for a further 32%.

The Czech Republic, with a CAGR of +12.5%, saw 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 paint and varnish export price stood at $X per ton in 2022, growing by 4.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2021 an increase of 9.4%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major overseas 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 Germany (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Spain

After four years of growth, purchases abroad of paints and varnishes decreased by -17.2% to X tons in 2022. The total import volume increased at an average annual rate of +2.3% 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 2014 with an increase of 25%. Imports peaked at X tons in 2021, and then fell rapidly in the following year.

In value terms, paint and varnish imports declined to $X in 2022. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

Italy (X tons), France (X tons) and Germany (X tons) were the main suppliers of paint and varnish imports to Spain, with a combined 64% share of total imports. Portugal, the UK, Poland, the Netherlands and Belgium lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +29.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest paint and varnish suppliers to Spain were France ($X), Italy ($X) and Germany ($X), together accounting for 65% of total imports. Portugal, the UK, the Netherlands, Belgium and Poland lagged somewhat behind, together comprising a further 28%.

In terms of the main suppliers, Poland, with a CAGR of +28.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average paint and varnish import price amounted to $X per ton, picking up by 13% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 14% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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