Solvent-based polymer paints and varnishes market in Estonia

Earlier Report Observations

The market for solvent-based polymer paints and varnishes in Estonia showed significant growth over the 2018-2024 period, with its size increasing from 20 117 thousand USD to 30 697 thousand USD. This upward trend was interrupted by a contraction in 2020, followed by a strong recovery and peak in 2022, before a market correction in 2023.

From 2022 onward, specific market factors began to influence demand. The designation of a bright sky-blue tone as the color of the year, alongside a broader trend toward muted and natural shades in interior design, stimulated consumer interest and purchasing. Simultaneously, the growing importance of e-commerce and digital self-service solutions in B2B sales expanded access to these products, supporting market growth.

In 2024, the market regained momentum, aided by sustained demand from the commercial real estate sector for quality finishes in central urban locations. While social media marketing and a preference for neutral colors remained prevalent, the market contraction in 2023 represented a temporary adjustment. Color trends pointing toward warmer and bolder shades are set to influence the product landscape moving forward.

Production solvent-based polymer paints and varnishes in Estonia

In value, 2018-2021, K $ US

After a two-year decline, Estonia's production of solvent-based polymer paints and varnishes rebounded. In 2021, output reached 9 181 thousand US dollars, marking a 26.8% increase compared to the previous year. Over the period from 2018 to 2021, production grew by 20.6%, averaging an annualized rate of 6.5%. The lowest value was recorded in 2020 at 7 241 thousand US dollars, while the largest decline occurred in 2019 with a drop of 3.0%.

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

In kind, 2018-2021, t

In 2021, Estonia produced 18 652 tonnes of solvent-based polymer paints and varnishes, representing a sharp increase of 65.4% from the previous year. From 2018 to 2021, production surged by 131.5%, with a compound annual growth rate of 32.3%. The largest decline was recorded in 2020 at 0.3%.

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

Exports solvent-based polymer paints and varnishes from Estonia

Exports in kind, t

Estonia's exports of solvent-based polymer paints and varnishes grew for the second consecutive year. In 2021, export volume totaled 9 362 tonnes, up 2.8% compared to 2020. Between 2018 and 2021, exports decreased by 2.3%, averaging an annualized decline of 0.8%. The lowest value was recorded in 2019 at 8 802 tonnes, with the largest decline that year at 8.1%, while the largest increase occurred in 2020 at 3.5%.

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

From 2018 to 2021, Russia, Latvia, and Lithuania were the core markets for Estonia's exports in kind of solvent-based polymer paints and varnishes. Russia accounted for 40.6% of exports, Latvia for 17.6%, and Lithuania for 13.7%, together representing 71.9% of total export flows.

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

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

Exports in value, K $ US

Estonia's exports of solvent-based polymer paints and varnishes in value terms increased for the second year in a row. In 2021, exports amounted to 34 813 thousand US dollars, a significant rise of 17.9% compared to the previous year. Over the 2018-2021 period, exports grew by 12.6%, with an annualized rate of 4.0%. The lowest value was recorded in 2019 at 29 033 thousand US dollars, and the largest decline that year was 6.1%.

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

Between 2018 and 2021, Russia, Lithuania, and Latvia consistently remained the main destinations for Estonia's exports in value terms of solvent-based polymer paints and varnishes. Russia accounted for 34.9% of exports, Lithuania for 23.8%, and Latvia for 13.2%, together making up 72.0% of total export flows.

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

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

Imports solvent-based polymer paints and varnishes to Estonia

Imports in kind, t

In 2021, Estonia's imports of solvent-based polymer paints and varnishes in kind totaled 12 337 tonnes, indicating a 20.8% increase compared to 2020. Over the 2018-2021 period, imports rose by 15.6%, with a compound annual growth rate of 5.0%. The lowest value was recorded in 2020 at 10 215 tonnes, and the largest decline that year was 7.9%.

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

From 2018 to 2021, Finland, Sweden, and Lithuania were the primary sources for Estonia's imports in kind of solvent-based polymer paints and varnishes. Finland accounted for 34.1% of imports, Sweden for 13.8%, and Lithuania for 11.6%, together representing 59.5% of total import flows.

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

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

Imports in value, K $ US

After a two-year decline, Estonia's imports of solvent-based polymer paints and varnishes in value terms rebounded. In 2021, imports reached 53 968 thousand US dollars, which is 29.7% higher year-over-year. Over the 2018-2021 period, imports increased by 24.3%, with a compound annual growth rate of 7.5%. The lowest value was recorded in 2020 at 41 595 thousand US dollars, and the largest decline that year was 3.9%.

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

Throughout 2018 to 2021, Finland, Sweden, and Lithuania formed the key group of partners for Estonia's imports in value terms of solvent-based polymer paints and varnishes. Finland accounted for 30.7% of imports, Sweden for 12.4%, and Lithuania for 10.5%, jointly representing 53.7% of total import flows.

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

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