Ukraine: Paint And Varnish Market 2024

Paint And Varnish Market Size in Ukraine

The Ukrainian paint and varnish market reduced to $X in 2022, which is down by -14.5% against the previous year. In general, consumption continues to indicate a pronounced reduction. Paint and varnish consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Paint And Varnish Production in Ukraine

In value terms, paint and varnish production fell modestly to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced decrease. The most prominent rate of growth was recorded in 2019 when the production volume increased by 13% against the previous year. Paint and varnish production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Paint And Varnish Exports

Exports from Ukraine

In 2022, shipments abroad of paints and varnishes decreased by -41.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 14%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, paint and varnish exports shrank sharply to $X in 2022. Over the period under review, exports recorded a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 23% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Moldova (X tons) was the main destination for paint and varnish exports from Ukraine, with a 42% share of total exports. Moreover, paint and varnish exports to Moldova exceeded the volume sent to the second major destination, Poland (X tons), threefold. The third position in this ranking was taken by Turkey (X tons), with an 8% share.

From 2012 to 2022, the average annual growth rate of volume to Moldova amounted to -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+60.6% per year) and Turkey (+26.2% per year).

In value terms, the largest markets for paint and varnish exported from Ukraine were Moldova ($X), Poland ($X) and Georgia ($X), with a combined 60% share of total exports.

Among the main countries of destination, Poland, with a CAGR of +65.0%, recorded 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

In 2022, the average paint and varnish export price amounted to $X per ton, surging by 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Moldova ($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 Kazakhstan (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Ukraine

In 2022, after three years of growth, there was significant decline in supplies from abroad of paints and varnishes, when their volume decreased by -56.6% to X tons. In general, imports saw a deep reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 37%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, paint and varnish imports contracted dramatically to $X in 2022. Overall, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of paint and varnish to Ukraine, with a 28% share of total imports. Moreover, paint and varnish imports from Poland exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland totaled -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-2.9% per year) and Germany (-13.4% per year).

In value terms, Poland ($X), Italy ($X) and Germany ($X) constituted the largest paint and varnish suppliers to Ukraine, with a combined 54% share of total imports. The Netherlands, Turkey, Belgium, Slovenia, Estonia, China, South Korea, Slovakia, Belarus and Russia lagged somewhat behind, together accounting for a further 26%.

In terms of the main suppliers, China, with a CAGR of +10.2%, 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 more modest paces of growth.

Import Prices by Country

The average paint and varnish import price stood at $X per ton in 2022, rising by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 the Netherlands ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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