EU - Paints And Varnishes - Market Analysis, Forecast, Size, Trends and Insights
Paint And Varnish Market - EU Paints and Varnishes Deliveries to China and Turkey to Rise, Set Against the Russian Market Shrinking
Photo: © .shock / Bigstockphoto
The European paint and varnish market is largely focused on external exports, which have been declining in the recent years. The reduction in deliveries to Russia, which has long been a key overseas market for EU paints and varnishes, has been the most sensitive area. As a consequence, EU paint and varnish manufacturers have to expand supplies into other foreign markets, with China and Turkey growing the most rapidly.
Total EU exports of paints and varnishes slightly decreased after five years of consistent growth, amounting to X million EUR in 2015. Data on the EU trade with non-EU countries shows that the EU remains a net exporter of paints and varnishes.
Among the EU members, Germany was the main supplier of paints and varnishes, taking a X% share of total exports in 2015. Italy had half of Germany's share size, followed by France and the U.K. The combined share of these countries came out to about X% of total exports in 2015. All of these countries reduced the volume of exports in 2015 compared with the previous year, with Germany showing a -X% decline, France and the UK with a -X% drop each, and Italy with -X%.
Since the share of extra-EU exports in the total EU paint and varnish output amounted to about X% in 2015, the EU paint and varnish industry is sensitive to the foreign markets conjuncture. Stable demand from the non-EU trade partners creates a strong support for the EU paint and varnish manufacturing industry. Extra-EU exports of paints and varnishes amounted to X million EUR in 2015, remaining constant with the previous year's value.
Russia, which held a stable X% share of total extra-exports of the EU over the past X years, was the main foreign market for EU Member States' exports of paints and varnishes, However, EU exports to Russia have noticeably declined in the past two years, influenced by the stagnation of construction and industrial production in Russia, combined with the increased cost of European products in the Russian market due to the growth of the Euro against the ruble.
Besides Russia, the largest shares of EU paint and varnish exports were held by Turkey (X% of extra-exports) and China (X%). Shipments to these countries grew in recent years, somewhat offsetting the decline in exports to Russia. Exports to Turkey increased by +X% per year over the period under review, while deliveries to China grew at a healthy average annual rate of +X%.
EU exports must be reallocated to countries in Asia in order to compensate for the decline in Russia's consumption. Despite the slowdown in the recent years, China's economy keeps expanding at a rapid rate, along with the ongoing urbanization process. This makes China a potentially promising market for EU paint and varnish industry.
Do you want to know more about the EU paint and varnish market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- paint and varnish market share
- paint and varnish prices
- paint and varnish industry
- paint and varnish sales
- paint and varnish market forecast
- paint and varnish price forecast
- key paint and varnish producers
Source: IndexBox AI Platform
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
We can help you conduct market research and write a report using the most reliable data