Alkyd resins in primary forms market in Portugal

Earlier Report Observations

In the early part of the period, Portugal's alkyd resins sector was affected by a historic decline in domestic natural resin production, caused by competition from synthetic resins, rural exodus, forest fires, and low-cost imports from China and Brazil, which impacted raw material availability. This contributed to a reduction in imports to 2 012 t in 2019. However, from 2020, global demand growth from the paints and coatings industry and the beginning of a market shift towards eco-friendly, water-based formulations due to stricter VOC regulations supported a recovery in trade, with imports peaking at 3 027 t and exports at 8 587 t in 2021.

The Portuguese alkyd resins market volume contracted from 4 122 t in 2022 to 3 629 t in 2024. This decline occurred alongside persistent operational challenges, including volatile raw material prices and longer curing times for water-based coatings, which affected market dynamics. Furthermore, in 2024, updated national and European Union legislation on waste management and packaging introduced new requirements for chemical product packaging, increasing compliance costs for the industry.

By 2025, the entry of new players and heightened competition in resin distribution contributed to a rise in imports to 2 840 t and exports to 4 721 t. The ongoing revitalization of Portugal's resin sector, focusing on innovation and sustainability through the development of modified alkyd resins from renewable resources, provided a foundation for adaptation to changing market conditions.

Production alkyd resins in primary forms in Portugal

According to Faostat, there is no production of alkyd resins in primary forms in Portugal.

Exports alkyd resins in primary forms from Portugal

Exports in kind, t

Portugal's exports of alkyd resins in primary forms have increased for the second consecutive year. In 2021, the country exported 8 587 tonnes, marking a 4.8% year-on-year rise. Over the period from 2018 to 2021, exports grew by 6%, which translates to an annualized growth rate of 2.0%. The lowest export volume was recorded in 2019 at 6 832 tonnes, representing the largest decline of 15.7% during this period. In contrast, the largest increase occurred in 2020, with exports surging by 19.9%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, t

From 2018 to 2021, Spain and France were the primary markets for Portugal's exports of alkyd resins in primary forms, jointly accounting for 87.6% of total export volumes. Other destinations held relatively smaller shares during this period.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Portugal in kind, 2018-2021

Exports in value, K $ US

Portugal's exports of alkyd resins in primary forms have risen for the second year in a row. In 2021, export value reached 15 071 thousand US dollars, reflecting a significant 20.8% increase compared to the previous year. Between 2018 and 2021, exports grew by 10.1%, with a compound annual growth rate (CAGR) of 3.2%. The lowest value was observed in 2019 at 10 985 thousand US dollars, which saw the largest decline of 19.8%. The most substantial increase occurred in 2020, with a notable rise in export value.

Annual dynamics of product's exports from Portugal in value, 2018-2021, K $ US

During the 2018–2021 period, Spain and France together absorbed 84.4% of the total export value of alkyd resins in primary forms from Portugal. The remaining value was distributed among smaller markets.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Portugal in value, 2018-2021

Imports alkyd resins in primary forms to Portugal

Imports in kind, t

Portugal's imports of alkyd resins in primary forms have increased for the second consecutive year. In 2021, imports amounted to 3 027 tonnes, showing a sharp rise of 28.3% year-on-year. From 2018 to 2021, imports grew by 16.2%, with a compound annual growth rate (CAGR) of 5.1%. The lowest import volume was recorded in 2019 at 2 012 tonnes, which experienced the largest decline of 22.7%. The most significant increase occurred in 2020, with imports climbing substantially.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, t

Between 2018 and 2021, Spain, Italy, and the Netherlands were the main sources for Portugal's imports of alkyd resins in primary forms. Spain accounted for 50.9% of import volumes, Italy for 24.4%, and the Netherlands for 8.1%, together representing 83.4% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Portugal in kind, 2018-2021

Imports in value, K $ US

Portugal's imports of alkyd resins in primary forms have grown for the second year in a row. In 2021, import value stood at 7 547 thousand US dollars, indicating a substantial 52.3% increase compared to the previous year. Over the 2018–2021 period, imports increased by 37%, with a compound annual growth rate (CAGR) of 11.1%. The lowest value was recorded in 2019 at 4 051 thousand US dollars, which saw the largest decline of 26.5%. The most notable increase occurred in 2020, with import value rising significantly.

Annual dynamics of product's imports to Portugal in value, 2018-2021, K $ US

From 2018 to 2021, Spain, Italy, and Germany were the key suppliers of alkyd resins in primary forms to Portugal in value terms. Spain contributed 46.4% of import value, Italy 24.0%, and Germany 10.5%, collectively making up 80.9% of total imports by value.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Portugal in value, 2018-2021