Greece: Paint And Varnish Market 2024

Paint And Varnish Market Size in Greece

In 2022, the Greek paint and varnish market was finally on the rise to reach $X after two years of decline. In general, consumption saw a relatively flat trend pattern. Paint and varnish consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Paint And Varnish Production in Greece

In value terms, paint and varnish production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Paint and varnish production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Paint And Varnish Exports

Exports from Greece

In 2022, overseas shipments of paints and varnishes increased by X% to X tons, rising for the eighth year in a row after two years of decline. Overall, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, paint and varnish exports expanded modestly to $X in 2022. In general, total exports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Cyprus (X tons), Bulgaria (X tons) and Albania (X tons) were the main destinations of paint and varnish exports from Greece, with a combined X% share of total exports. Turkey, Israel, Romania, Serbia, Kosovo, Marshall Islands, India, Panama, Malta and Georgia lagged somewhat behind, together comprising a further X%.

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

In value terms, Cyprus ($X), Bulgaria ($X) and Turkey ($X) constituted the largest markets for paint and varnish exported from Greece worldwide, together accounting for X% of total exports. Albania, Marshall Islands, Israel, Panama, Serbia, Romania, Malta, India, Kosovo and Georgia lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Panama, with a CAGR of X%, 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

The average paint and varnish export price stood at $X per ton in 2022, flattening at the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Marshall Islands ($X per ton), while the average price for exports to Albania ($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 Marshall Islands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into Greece

In 2022, after ten years of growth, there was decline in supplies from abroad of paints and varnishes, when their volume decreased by X% to X tons. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2021, and then declined in the following year.

In value terms, paint and varnish imports rose sharply to $X in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

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

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest paint and varnish suppliers to Greece were Italy ($X), France ($X) and the UK ($X), with a combined X% share of total imports. The Netherlands, Germany, Spain, Poland and Portugal lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, saw 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 2022, the average paint and varnish import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Poland ($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 UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform