Report Update: Apr 1, 2024

Turkey - Paints And Varnishes - Market Analysis, Forecast, Size, Trends And Insights

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Paint and Varnish Price in Turkey - 2023

Paint and Varnish Price in Turkey (CIF) - 2023

The average paint and varnish import price stood at $5,079 per ton in July 2023, flattening at the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 7% month-to-month. Over the period under review, average import prices hit record highs at $5,355 per ton in January 2023; however, from February 2023 to July 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was the Netherlands ($6,327 per ton), while the price for Croatia ($2,890 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Belgium (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Paint and Varnish Price in Turkey (FOB) - 2023

The average paint and varnish export price stood at $2,999 per ton in July 2023, rising by 7.9% against the previous month. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 11% against the previous month. Over the period under review, the average export prices hit record highs at $3,302 per ton in January 2023; however, from February 2023 to July 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In July 2023, the country with the highest price was Kazakhstan ($4,385 per ton), while the average price for exports to Iraq ($1,571 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Paint and Varnish Imports in Turkey

For the fourth consecutive year, Turkey recorded growth in purchases abroad of paints and varnishes, which increased by 13% to 130K tons in 2022. The total import volume increased at an average annual rate of +7.8% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, paint and varnish imports surged to $609M in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +13.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 20% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Import of Paint and Varnish in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	121	128	141	156	8.8%
Italy	81.0	92.4	112	118	13.4%
United Kingdom	23.3	25.0	28.4	41.5	21.2%
Spain	21.3	18.0	28.1	41.3	24.7%
France	29.6	22.6	28.4	36.8	7.5%
Netherlands	18.1	23.0	24.9	25.7	12.4%
Poland	7.4	8.1	11.8	16.5	30.6%
Belgium	14.0	13.5	16.0	16.3	5.2%
Croatia	11.0	10.2	15.7	16.2	13.8%
Sweden	12.1	9.1	10.5	15.4	8.4%
Norway	4.8	7.5	11.4	14.6	44.9%
Greece	7.3	11.1	5.1	3.9	-18.9%
Cyprus	N/A	0.5	1.3	1.8	89.7%
Others	62.8	62.4	81.3	105	18.7%
Total	414	432	516	609	13.7%

Top Suppliers of Paint and Varnish to Turkey in 2022:

Germany (31.6K tons)
Italy (23.7K tons)
United Kingdom (10.4K tons)
Spain (9.9K tons)
France (7.2K tons)
Croatia (5.0K tons)
Netherlands (4.9K tons)
Belgium (4.3K tons)
Sweden (4.2K tons)
Poland (4.1K tons)
Norway (3.4K tons)
Cyprus (2.1K tons)
Greece (1.2K tons)

Paint and Varnish Exports in Turkey

In 2022, exports of paints and varnishes from Turkey expanded rapidly to 135K tons, increasing by 12% against the year before. The total export volume increased at an average annual rate of +10.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, paint and varnish exports soared to $373M in 2022. Overall, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.1% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Paint and Varnish in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Russia	6.6	8.5	11.2	62.2	111.2%
Iraq	31.1	30.2	33.7	38.7	7.6%
Iran	14.1	13.3	20.5	26.4	23.3%
Uzbekistan	16.4	17.2	21.4	23.3	12.4%
Azerbaijan	19.6	18.8	19.2	21.0	2.3%
Georgia	15.2	15.0	17.2	18.1	6.0%
Turkmenistan	6.8	7.7	11.2	13.6	26.0%
Algeria	6.2	8.1	8.4	12.9	27.7%
United States	2.0	7.1	7.4	12.2	82.7%
Romania	6.3	8.3	15.2	10.8	19.7%
Kazakhstan	4.9	6.3	6.8	8.3	19.2%
Cyprus	5.6	5.3	6.6	6.9	7.2%
Israel	6.1	5.0	6.6	6.4	1.6%
Others	72.0	76.7	91.6	112	15.9%
Total	213	228	277	373	20.5%

Top Export Markets for Paint and Varnish from Turkey in 2022:

Iraq (27.3K tons)
Russia (15.1K tons)
Uzbekistan (8.9K tons)
Georgia (8.1K tons)
Azerbaijan (7.8K tons)
Iran (6.4K tons)
Turkmenistan (6.3K tons)
Romania (4.7K tons)
Algeria (3.8K tons)
Cyprus (3.6K tons)
United States (2.7K tons)
Israel (2.5K tons)
Kazakhstan (2.3K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the paint and varnish market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20301150 - Paints and varnishes, based on acrylic or vinyl polymers dispersed or dissolved in an aqueous medium (including enamels and lacquers)
Prodcom 20301170 - Other paints, varnishes dispersed or dissolved in an aqueous medium
Prodcom 20301225 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium, weight of the solvent > .50 % of the weight of the solution including enamels and lacquers
Prodcom 20301229 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium including enamels and lacquers excluding weight of the solvent > .50 % of the weight of the solution
Prodcom 20301230 - Paints and varnishes, based on acrylic or vinyl polymers dispersed/dissolved in non-aqueous medium, weight of the solvent > .50 % of the solution weight including enamels and lacquers
Prodcom 20301250 - Other paints and varnishes based on acrylic or vinyl polymers
Prodcom 20301270 - Paints and varnishes: solutions n.e.c.
Prodcom 20301290 - Other paints and varnishes based on synthetic polymers n.e.c.
Prodcom 20302213 - Oil paints and varnishes (including enamels and lacquers)
Prodcom 20302215 - Prepared water pigments for finishing leather, paints and varnishes (including enamels, lacquers and distempers) (excluding of oil)

Country coverage:

Turkey

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Turkey
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023