Ukraine: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Ukraine

The Ukrainian market for oil and water paints and varnishes surged to $X in 2021, picking up by 36% against the previous year. Over the period under review, consumption, however, saw a deep downturn. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Oil And Water Paints And Varnishes in Ukraine

In value terms, production of oil and water paints and varnishes expanded notably to $X in 2021 estimated in export price. In general, production showed a abrupt decrease. The pace of growth was the most pronounced in 2018 when the production volume increased by 31% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Oil And Water Paints And Varnishes

Exports from Ukraine

In 2021, after two years of decline, there was significant growth in shipments abroad of oil and water paints and varnishes, when their volume increased by 22% to X tons. Overall, exports, however, continue to indicate a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 217%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, exports of oil and water paints and varnishes surged to $X in 2021. Over the period under review, exports, however, recorded a pronounced setback. The pace of growth was the most pronounced in 2018 when exports increased by 398%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons), Poland (X tons) and Moldova (X tons) were the main destinations of exports of oil and water paints and varnishes from Ukraine, together comprising 66% 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 Poland (with a CAGR of +1,654.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for oil and water paints and varnishes exported from Ukraine were Moldova ($X), Poland ($X) and Russia ($X), together accounting for 78% of total exports.

Poland, with a CAGR of +1,133.7%, recorded the highest rates of growth with regard to 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

In 2021, the average export price for oil and water paints and varnishes amounted to $X per ton, jumping by 34% against the previous year. In general, the export price showed prominent growth. The most prominent rate of growth was recorded in 2018 an increase of 57%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Moldova ($X per ton), while the average price for exports to Armenia ($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 Moldova (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oil And Water Paints And Varnishes

Imports into Ukraine

In 2021, purchases abroad of oil and water paints and varnishes increased by 19% to X tons, rising for the third year in a row after two years of decline. In general, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 49% against the previous year. Over the period under review, imports of hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, imports of oil and water paints and varnishes skyrocketed to $X in 2021. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +86.6% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Belarus (X tons) constituted the largest supplier of oil and water paints and varnishes to Ukraine, with a 58% share of total imports. Moreover, imports of oil and water paints and varnishes from Belarus exceeded the figures recorded by the second-largest supplier, Austria (X tons), sixfold. Germany (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume from Belarus totaled +48.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+77.9% per year) and Germany (+2.5% per year).

In value terms, Belarus ($X), Germany ($X) and Switzerland ($X) were the largest oil and water paints and varnishes suppliers to Ukraine, with a combined 67% share of total imports. The UK, Poland, Turkey, Italy, Austria and Finland lagged somewhat behind, together comprising a further 23%.

Austria, with a CAGR of +66.7%, recorded the highest growth rate of 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

In 2021, the average import price for oil and water paints and varnishes amounted to $X per ton, increasing by 25% against the previous year. Over the period under review, the import price, however, recorded a mild contraction. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 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 Germany ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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