Solvent-based polymer paints and varnishes market in Portugal

Earlier Report Observations

The market for solvent-based polymer paints and varnishes in Portugal showed sustained growth in volume and value from 2019 to 2024. The domestic market volume increased from 55 651 t in 2019 to 74 084 t in 2024, a rise of 33%. In monetary terms, the market value expanded from 262.2 million US dollars to 356.2 million US dollars over the same period. The most significant acceleration occurred between 2020 and 2023, when the market volume grew by 16.9% and its value by 25%.

This growth was underpinned by an increase in domestic production, which rose from 48 261 t in 2019 to 62 915 t in 2024. Imports into Portugal also expanded, from 36 525 t to 45 988 t, while export volumes did not show a corresponding upward trend. The combined effect of higher local output and greater imports led to a larger volume of products available for consumption within the country.

Production solvent-based polymer paints and varnishes in Portugal

In value, 2018-2021, M $ US

In 2020, Portugal's output of solvent-based polymer paints and varnishes reached a value of 204.7 million US dollars, marking an 8.7% increase from the previous year.

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

In kind, 2018-2021, t

Portugal produced 50,571 tonnes of solvent-based polymer paints and varnishes in 2020, showing a moderate year-on-year growth of 4.8%.

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

Exports solvent-based polymer paints and varnishes from Portugal

Exports in kind, t

Exports of solvent-based polymer paints and varnishes from Portugal grew for the second consecutive year. In 2021, shipments totaled 33,825 tonnes, up 2.0% from 2020. Over the period from 2018 to 2021, exports increased by 6.8%, averaging an annual growth rate of 2.2%. The lowest export volume was recorded in 2019 at 29,136 tonnes, which also saw the largest decline of 8.0%. In contrast, the highest increase occurred in 2020 with a 13.8% rise.

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

From 2018 to 2021, Spain, France, and the Netherlands were the primary destinations for Portugal's exports of solvent-based polymer paints and varnishes in volume terms. Spain accounted for 34.0% of exports, France for 15.4%, and the Netherlands for 5.9%, collectively making up 55.3% of total export 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, M $ US

Portugal's exports of solvent-based polymer paints and varnishes in value terms expanded for the second year in a row. In 2021, exports amounted to 123.3 million US dollars, representing a significant 15.9% increase compared to the previous year. The lowest value was recorded in 2019 at 101.7 million US dollars, which also experienced the largest decline of 17.0%.

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

Between 2018 and 2021, Spain, France, and Italy remained the top destinations for Portugal's exports of solvent-based polymer paints and varnishes in value terms. Spain held a 35.9% share, France 11.3%, and Italy 5.3%, together accounting for 52.5% of total export value.

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

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

Imports solvent-based polymer paints and varnishes to Portugal

Imports in kind, t

Imports of solvent-based polymer paints and varnishes into Portugal rose for the second consecutive year. In 2021, imports reached 48,034 tonnes, reflecting a solid 22.0% gain from the prior year. From 2018 to 2021, imports grew by 15.4%, with an annualized rate of 4.9%. The lowest import volume was in 2019 at 36,525 tonnes, which also saw the largest decline of 12.2%.

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

During 2018–2021, Spain, Italy, and Germany were the leading sources for Portugal's imports of solvent-based polymer paints and varnishes in volume terms. Spain contributed 50.4% of imports, Italy 15.5%, and Germany 10.2%, jointly representing 76.0% of total import 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, M $ US

After a two-year decline, imports of solvent-based polymer paints and varnishes into Portugal rebounded. In 2021, import value stood at 215.2 million US dollars, up 24.4% from 2020. Over the 2018–2021 period, imports increased by 14.2%, with a compound annual growth rate of 4.5%. The lowest value was recorded in 2020 at 172.9 million US dollars, while the largest decline occurred in 2019 with a 6.9% drop.

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

From 2018 to 2021, Spain, Italy, and Germany were the key markets for Portugal's imports of solvent-based polymer paints and varnishes in value terms. Spain accounted for 44.7% of imports, Italy for 15.4%, and Germany for 15.3%, together making up 75.5% of total import value.

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

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