Lithuania: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Lithuania

After three years of growth, the Lithuanian market for oil and water paints and varnishes decreased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2021, and then dropped rapidly in the following year.

Production of Oil And Water Paints And Varnishes in Lithuania

In value terms, production of oil and water paints and varnishes reduced to $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable decline. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Oil And Water Paints And Varnishes

Exports from Lithuania

In 2022, approx. X tons of oil and water paints and varnishes were exported from Lithuania; declining by X% on 2021 figures. In general, total exports indicated a mild expansion 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 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports of reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, exports of oil and water paints and varnishes soared to $X in 2022. Over the period under review, total exports indicated a remarkable 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 2020 indices. The growth pace was the most rapid in 2013 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X tons), Belarus (X tons) and Turkey (X tons) were the main destinations of exports of oil and water paints and varnishes from Lithuania, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of X%), 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 Lithuania were Georgia ($X), Russia ($X) and Belarus ($X), with a combined X% share of total exports. Kazakhstan, Turkey, Latvia, Germany, Estonia and Hungary lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Turkey, 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

In 2022, the average export price for oil and water paints and varnishes amounted to $X per ton, surging by X% against the previous year. In general, export price indicated a measured increase from 2012 to 2022: its price 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. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

Imports of Oil And Water Paints And Varnishes

Imports into Lithuania

In 2022, imports of oil and water paints and varnishes into Lithuania dropped sharply to X tons, waning by X% on 2021 figures. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, imports of oil and water paints and varnishes contracted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Germany (X tons), Latvia (X tons) and Poland (X tons) were the main suppliers of imports of oil and water paints and varnishes to Lithuania, with a combined X% share of total imports. Estonia, Switzerland, China, Russia, Sweden and the UK lagged somewhat behind, together accounting for a further X%.

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

In value terms, Germany ($X), Latvia ($X) and Estonia ($X) constituted the largest oil and water paints and varnishes suppliers to Lithuania, with a combined X% share of total imports. Poland, Switzerland, China, Sweden, Russia and the UK lagged somewhat behind, together accounting for a further X%.

China, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average import price for oil and water paints and varnishes stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Russia ($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

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