Solvent-based acrylic or vinyl paints and varnishes market in Denmark

Earlier Report Observations

From 2018 to 2020, the Danish market for solvent-based acrylic or vinyl paints and varnishes saw a decline in physical volume, dropping from 9,962 t to 8,454 t, while the market value initially rose before falling. This period was marked by a strong industry focus on the green transition, with leading players like Flügger driving a shift from oil-based to water-based paints. Stricter environmental labeling requirements, such as the Nordic Swan and EU Flower eco-labels, mandated lower content of organic solvents and heavy metals, which influenced product development and consumer preferences towards more expensive, eco-friendly options. The onset of the COVID-19 pandemic in 2020 introduced global supply chain disruptions, contributing to the market contraction in both volume and value.

A sharp recovery occurred in 2021, with market volume jumping to 10,528 t and value reaching $40.2 million. This surge was directly linked to a significant boom in demand for eco-labeled building materials, including paints, as consumer awareness and demand for sustainable products grew. Additionally, the entry of new painting firms in Denmark increased competition and expanded the availability of painting and surface treatment services, further stimulating market activity. Major players continued to invest in product development and market expansion, supporting this growth phase.

Subsequently, the market experienced volatility from 2022 to 2024. In 2022, new climate regulations and stricter enforcement of VOC labeling rules aligned with EU legislation, alongside a general market slowdown, led to a decline in both volume and value. The market volume partially rebounded in 2023 to 10,109 t, though value continued to drop, possibly due to the development and spread of specialty products like magnetic paints and nanotechnology-based facades. By 2024, the market volume fell sharply to 7,140 t, with value declining to $26.2 million, reflecting ongoing adjustments in the industry.

Production solvent-based acrylic or vinyl paints and varnishes in Denmark

In value, 2018-2021, K $ US

Denmark's production of solvent-based acrylic or vinyl paints and varnishes has grown for the second year in a row. In 2021, output reached 24 458 thousand US dollars, showing a strong increase of 20.9% compared to 2020. Looking at the period from 2018 to 2021, production rose by 27.7%, which translates to an average annual growth rate of 8.5%. The lowest production value was recorded in 2019 at 16 183 thousand US dollars, with the largest decline of 15.5% occurring that same year. The most significant increase happened in 2020, when production jumped by 25.0%.

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

In kind, 2018-2021, t

Denmark's production volume of solvent-based acrylic or vinyl paints and varnishes has increased for the second consecutive year. In 2021, the country produced 6 545 tonnes, up by 22.0% from the previous year. Over the 2018-2021 period, production grew by 10%, averaging 3.2% per year. The lowest volume was in 2019 at 4 975 tonnes, which also saw the largest decline of 16.4%.

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

Exports solvent-based acrylic or vinyl paints and varnishes from Denmark

Exports in kind, t

In 2021, Denmark's exports of solvent-based acrylic or vinyl paints and varnishes totaled 1 807 tonnes, down by 17.4% from the year before. From 2018 to 2021, exports increased by 13.9%, with an average annual growth rate of 4.4%. The lowest export volume was in 2019 at 1 371 tonnes, while the peak was in 2020 at 2 188 tonnes. The largest increase occurred in 2020, with a jump of 59.6%.

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

Between 2018 and 2021, Sweden, Germany, and the United Kingdom were the main buyers of Denmark's solvent-based acrylic or vinyl paints and varnishes by volume. Sweden accounted for 42.8% of exports, Germany for 6.3%, and the United Kingdom for 6.2%. Together, these three countries made up 55.3% of total exports in kind.

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

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

Exports in value, K $ US

Denmark's export value of solvent-based acrylic or vinyl paints and varnishes has risen for the second year in a row. In 2021, exports were valued at 19 559 thousand US dollars, marking a moderate increase of 6.3% compared to 2020. From 2018 to 2021, export value grew by 22.2%, averaging 6.9% per year. The lowest value was in 2019 at 11 445 thousand US dollars, which also saw the largest decline of 28.5%. The most significant increase happened in 2020, with a surge of 60.7%.

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

From 2018 to 2021, Hungary, Sweden, and Poland were the principal buyers of Denmark's solvent-based acrylic or vinyl paints and varnishes by value. Hungary accounted for 27.2% of exports, Sweden for 26.6%, and Poland for 7.6%. Combined, these three countries represented 61.5% of total export value.

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

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

Imports solvent-based acrylic or vinyl paints and varnishes to Denmark

Imports in kind, t

In 2021, Denmark imported 5 791 tonnes of solvent-based acrylic or vinyl paints and varnishes, a moderate increase of 9.7% from 2020. Over the 2018-2021 period, imports grew by 3.4%, with an average annual rate of 1.1%. The lowest import volume was in 2020 at 5 279 tonnes, which also experienced the largest decline of 6.1%.

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

Between 2018 and 2021, Sweden, Poland, and Germany were the three main sources for Denmark's imports of solvent-based acrylic or vinyl paints and varnishes by volume. Together, they supplied 66.3% of total imports in kind.

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

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

Imports in value, K $ US

After two years of decline, Denmark's imports of solvent-based acrylic or vinyl paints and varnishes increased in 2021. The country imported 35 282 thousand US dollars worth of these products, a solid gain of 18.5% compared to the previous year. From 2018 to 2021, import value rose by 6.8%, with a compound annual growth rate of 2.2%. The lowest value was in 2020 at 29 769 thousand US dollars, which also saw the largest decline of 8.8%.

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

Throughout 2018-2021, Sweden, Germany, and Poland were the key sources for Denmark's imports of solvent-based acrylic or vinyl paints and varnishes by value. Sweden accounted for 31.3% of imports, Germany for 18.6%, and Poland for 13.1%. Together, these three countries made up 63.1% of total import value.

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

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