Mastics, fillers and surfacing preparations market in Greece

Earlier Report Observations

The market for mastics, fillers and surfacing preparations in Greece showed significant value movements between 2018 and 2024. It grew by 8% in 2019 to reach 75.7 million dollars, then contracted by a similar margin in 2020 to 69.7 million dollars. By 2024, the market had not only recovered but expanded further, climbing 11% from the 2020 level to 77.6 million dollars.

Domestic production mirrored this pattern, increasing from 62.0 million dollars in 2018 to 68.4 million in 2019 before a slight decline to 67.2 million in 2020. By 2024, production rebounded to 76.1 million dollars. Both imports and exports grew steadily over the period, with imports rising from 28.6 million dollars to 43.6 million and exports more than doubling from 20.6 million to 42.1 million dollars, reflecting increased trade activity.

Production mastics, fillers and surfacing preparations in Greece

In value, 2017-2020, K $ US

After two years of growth, Greece's production of mastics, fillers, and surfacing preparations declined. In 2020, output was valued at 67 225 thousand US dollars, marking a 1.8% decrease from the previous year. Between 2017 and 2020, production increased by 28.5%, which translates to an annualized growth rate of 8.7%. The highest value was recorded in 2019 at 68 440 thousand US dollars, with the largest annual increase occurring in 2018 at 18.5%.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

In kind, 2017-2020, t

Following a two-year rise, Greece's production of mastics, fillers, and surfacing preparations in volume terms declined. In 2020, 56 517 tonnes were produced, representing a gradual reduction of 6.5% compared to the previous year. From 2017 to 2020, production increased by 18.7%, equating to an annualized rate of 5.9%. The peak volume was reached in 2019 at 60 447 tonnes, with the largest increase recorded that same year at 20.9%.

Annual dynamics of production in Greece in kind, 2017-2020, t

Exports mastics, fillers and surfacing preparations from Greece

Exports in kind, t

Exports of mastics, fillers, and surfacing preparations from Greece increased for the third consecutive year. In 2020, exports totaled 31 842 tonnes, remaining relatively stable compared to 2019. Between 2017 and 2020, exports grew by 34.6%, corresponding to an annualized growth rate of 10.4%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, t

From 2017 to 2020, Bulgaria, Cyprus, and North Macedonia were the key destinations for Greece's exports in volume terms. Bulgaria accounted for 27.6% of exports, Cyprus for 14.9%, and North Macedonia for 10.1%. Together, these three countries represented 52.6% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

Foreign supplies of mastics, fillers, and surfacing preparations from Greece increased for the third year in a row. In 2020, exports reached 25 232 thousand US dollars, showing a solid rise of 13.7% compared to 2019. Over the period from 2017 to 2020, exports grew by 47.7%, with a compound annual growth rate of 13.9%.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

Between 2017 and 2020, exports in value terms from Greece were not heavily concentrated. Cyprus accounted for 22.9% of exports, Bulgaria for 16.7%, and Israel for 8.8%. Collectively, these three countries captured only 48.4% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports mastics, fillers and surfacing preparations to Greece

Imports in kind, t

After two years of increase, imports of mastics, fillers, and surfacing preparations into Greece declined. In 2020, imports amounted to 24 824 tonnes, indicating an 8.3% drop from the previous year. From 2017 to 2020, imports rose by 29.6%, with a compound annual growth rate of 9.0%. The highest volume was recorded in 2019 at 27 061 tonnes, and the largest annual increase occurred in 2018 at 28.2%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, t

From 2017 to 2020, Germany, Bulgaria, and Italy were the primary suppliers of mastics, fillers, and surfacing preparations to Greece in volume terms. Germany contributed 24.9% of imports, Bulgaria 14.6%, and Italy 11.7%. Together, these three countries accounted for 51.2% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

Following two years of growth, deliveries of mastics, fillers, and surfacing preparations to Greece declined. In 2020, imports reached 27 697 thousand US dollars, which is 5.8% less than the previous year. Over the period from 2017 to 2020, imports increased by 20.2%, with a compound annual growth rate of 6.3%. The peak value was recorded in 2019 at 29 398 thousand US dollars, and the largest annual increase was in 2018 at 24.0%.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

During 2017 to 2020, imports in value terms into Greece were spread relatively evenly. Germany accounted for 27.5% of imports, the Netherlands for 12.1%, and the United Kingdom for 9.8%. Jointly, these three countries represented only 49.4% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020