Polyester-based paints and varnishes market in Spain

Earlier Report Observations

The Spanish market for polyester-based paints and varnishes saw considerable volume changes from 2018 to 2024. Starting at 107.6 thousand tons, consumption fell to 93.1 thousand tons in 2019, then gradually recovered to a peak of 112.8 thousand tons by 2022. The latter years of the period brought a reversal, with volume dropping to 91.1 thousand tons in 2024, marking an overall decline of over 15%.

Market value mirrored the physical volume trend, decreasing from $418.6 million in 2018 to $350.0 million in 2024. The most substantial value contraction occurred in 2020, preceding the volume peak in 2022. The parallel movements in both volume and value indicate consistent market pressure throughout the period.

Production polyester-based paints and varnishes in Spain

In value, 2017-2020, M $ US

Spain's production of polyester-based paints and varnishes declined for the second consecutive year. In 2020, output was valued at 336.5 million US dollars, marking a 10.7% decrease compared to the previous year. Over the period from 2017 to 2020, production fell by 15.5%, with an average annual decline of 5.4%. The highest production value was recorded in 2018 at 412.1 million US dollars, which also saw the largest increase of 3.5% during that year.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

In kind, 2017-2020, K t

Production of polyester-based paints and varnishes in Spain declined for the third consecutive year. In 2020, Spain produced 85.8 thousand tonnes, representing an 11.5% decrease from the previous year. Between 2017 and 2020, production dropped by 17.3%, equating to an average annual decline of 6.1%.

Annual dynamics of production in Spain in kind, 2017-2020, K t

Exports polyester-based paints and varnishes from Spain

Exports in kind, t

After two years of growth, Spain's exports of polyester-based paints and varnishes declined. In 2020, Spain exported 29 468 tonnes, showing a slight decrease of 0.8% compared to the previous year. Over the period from 2017 to 2020, exports increased by 5.4%, with an average annual growth rate of 1.8%. The highest export volume was recorded in 2019 at 29 707 tonnes, which also experienced the largest increase of 5.0% that year.

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

From 2017 to 2020, France, Portugal, and Italy were among the largest buyers of polyester-based paints and varnishes from Spain, accounting for 26.4%, 11.4%, and 9.3% of exports in kind, respectively. However, even combined, these three countries represented just 47.0% of total exports, indicating a broadly diversified partner base.

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

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

Exports in value, M $ US

After two years of growth, Spain's exports of polyester-based paints and varnishes declined. In 2020, exports were valued at 135.5 million US dollars, showing negligible variation compared to 2019. Between 2017 and 2020, exports increased by 4.5%, equating to an average annual growth rate of 1.5%. The highest export value was recorded in 2019 at 136.0 million US dollars, while the largest increase occurred in 2018 at 3.6%.

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

From 2017 to 2020, the partner landscape for exports in value terms was wide. France, Portugal, and Italy accounted for 29.1%, 10.8%, and 9.5% of exports in value terms, respectively. Together, they formed only 49.3% of total flows, with the remaining 50.7% supplied to many other countries.

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

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

Imports polyester-based paints and varnishes to Spain

Imports in kind, t

After two years of decline, Spain's imports of polyester-based paints and varnishes increased. In 2020, Spain imported approximately 37 717 tonnes, showing a steep rise of 46.1% compared to the previous year. Over the period from 2017 to 2020, imports increased by 5.7%, with an average annual growth rate of 1.9%. The lowest import volume was recorded in 2019 at 25 823 tonnes, which also saw the largest decline of 26.2% that year.

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

From 2017 to 2020, Italy, France, and Portugal were the main sources of polyester-based paints and varnishes imports to Spain, accounting for 26.2%, 21.2%, and 15.3% of imports in kind, respectively. Together, they represented 62.7% of total import flows.

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

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

Imports in value, M $ US

In 2020, Spain imported 131.7 million US dollars worth of polyester-based paints and varnishes, remaining virtually unchanged from the previous year. The highest import value was recorded in 2018 at 140.9 million US dollars, which also experienced the largest increase of 7.6% that year. The largest decline occurred in 2019 at 6.7%.

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

From 2017 to 2020, France, Italy, and Portugal together accounted for 69.3% of total imports in value terms, with shares of 29.9%, 25.2%, and 14.2%, respectively. These countries remained the main destinations for polyester-based paints and varnishes imported into Spain.

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

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