Polyester-based paints and varnishes market in Portugal

Earlier Report Observations

The Portuguese market for polyester-based paints and varnishes demonstrated strong growth from 2019 to 2024, with market volume increasing from 17 308 tons to 24 185 tons. In value terms, the market expanded from 64.4 million USD to 116.7 million USD over the same period.

During the COVID-19 pandemic in 2020, industry players focused on managing orders and inventory to ensure operational stability. This period also saw companies form strategic alliances to extend market reach and increase production at existing facilities, which supported a rise in domestic output and contributed to market growth.

The positive trajectory continued after the pandemic, with production reaching 22 633 tons in 2024 and imports remaining at elevated levels. This sustained expansion reflects the market's resilience and ongoing demand for polyester-based coatings in Portugal.

Production polyester-based paints and varnishes in Portugal

In value, 2018-2021, K $ US

In 2020, Portugal's output of polyester-based paints and varnishes was valued at 70 694 thousand US dollars, marking a solid 18.0% increase compared to 2019.

Annual dynamics of production in Portugal in value, 2018-2021, K $ US

In kind, 2018-2021, t

Portugal produced 17 180 tonnes of polyester-based paints and varnishes in 2020, representing a 16.4% year-over-year growth.

Annual dynamics of production in Portugal in kind, 2018-2021, t

Exports polyester-based paints and varnishes from Portugal

Exports in kind, t

The data reveals irregular changes, indicating a volatile market environment. In 2019, exports reached their minimum at 3 454 tonnes, with the largest decline recorded at 0.1% that year. By 2020, exports surged by 88.4%, and in 2021, they amounted to 7 965 tonnes, which is 22.4% higher than the previous year. Overall, there was a 2.3-fold variation between the minimum in 2019 and the maximum in 2021.

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

From 2018 to 2021, Spain dominated the partner structure of exports in kind, consistently accounting for 95.8% of total flows.

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

After a two-year decline, Portugal's exports of polyester-based paints and varnishes increased. In 2019, the largest decline was recorded at 12.7%, with the minimum value of 20 143 thousand US dollars reached in 2020. In 2021, exports amounted to 30 043 thousand US dollars, showing a steep uptick of 49.1% relative to the prior year. Between 2018 and 2021, exports grew by 21.3%, equating to an annualized rate of 6.6%.

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

Throughout 2018–2021, exports in value terms remained heavily focused on Spain, which accounted for 94.5% of total flows.

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

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

Imports polyester-based paints and varnishes to Portugal

Imports in kind, t

Foreign supplies of polyester-based paints and varnishes to Portugal increased for the second consecutive year. In 2019, imports hit their minimum at 6 006 tonnes, with the largest decline recorded at 2.0% that year. By 2020, imports rose by 32.4%, and in 2021, Portugal imported 9 013 tonnes, up by 13.4% compared to the previous year. Over the period 2018-2021, imports increased by 47.1%, with a compound annual growth rate of 13.7%.

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

From 2018 to 2021, Spain, Italy, and France were the main markets for imports in kind, accounting for 46.1%, 30.4%, and 12.7% of imports, respectively. Together, they represented 89.2% of total 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 import volume of polyester-based paints and varnishes increased for the second consecutive year. In 2019, the largest decline was recorded at 3.6%, with the minimum value of 26 104 thousand US dollars reached that year. In 2021, imports reached 33 860 thousand US dollars, up by 20.1% relative to the prior year. Between 2018 and 2021, imports grew by 25.1%, equating to an annualized rate of 7.7%.

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

Over 2018–2021, Spain, Italy, and France were the main directions for imports in value terms, accounting for 40.9%, 30.8%, and 12.3% of imports, respectively. Together, they absorbed 84.1% of total imports of polyester-based paints and varnishes to Portugal.

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

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