Solvent-based polymer paints and varnishes market in Spain

Earlier Report Observations

Between 2018 and 2020, the physical volume of Spain's solvent-based polymer paints and varnishes market grew from 257.4 thousand tons to 270.8 thousand tons, yet its monetary value fell from $1 109 million to $970 million. This decline in market value during 2020 was a direct consequence of the COVID-19 pandemic, which reduced overall market revenue as key industrial client sectors contracted.

A post-pandemic recovery began in 2021, with the market's value growing by approximately 5% to around €1 600 million. Growth continued into 2022, reaching nearly €1 800 million, supported by rising prices and stronger demand from industrial sectors—notably automotive—which compensated for softer activity in the decoration segment. Regulatory preparation also advanced, as the Ministry for Ecological Transition published a new Producer Product Registry slated for implementation in 2023.

By 2023, sustained demand from renovation, rehabilitation, and new construction activities supported the market, with over 200 manufacturers active in the decoration and construction paint segment. The industry structure remained concentrated, with the five leading firms accounting for 39% of the market.

Production solvent-based polymer paints and varnishes in Spain

In value, 2017-2020, M $ US

Production of solvent-based polymer paints and varnishes in Spain has declined for the second year in a row. In 2020, output was valued at 1 013 million US dollars, showing a modest 7.6% decrease from the previous year. Looking at the period from 2017 to 2020, production fell by 2.9%, with an average annual decline of 1.0%. The peak was in 2018, when production reached 1 126 million US dollars, and that year also saw the largest increase of 7.9%.

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

In kind, 2017-2020, K t

In 2020, Spain produced 263.2 thousand tonnes of solvent-based polymer paints and varnishes, marking a moderate 7.4% year-on-year decline. Over the 2017-2020 period, production decreased by 6.4%, with an average annual drop of 2.2%. The highest volume was recorded in 2019 at 284.2 thousand tonnes, and that year also experienced the largest increase of 2.0%.

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

Exports solvent-based polymer paints and varnishes from Spain

Exports in kind, K t

After two years of growth, Spain's exports of solvent-based polymer paints and varnishes declined. In 2020, exports reached 105.4 thousand tonnes, representing a modest 8.8% decrease from the previous year. From 2017 to 2020, exports overall increased by 5.3%, with an average annual growth rate of 1.7%. The peak was in 2019 at 115.6 thousand tonnes, and that year saw the largest increase of 8.6%.

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

From 2017 to 2020, the export market for solvent-based polymer paints and varnishes from Spain was diverse. Portugal accounted for 15.1% of exports, France for 13.2%, and Germany for 8.0%, together making up 36.3% of total flows. The remaining 63.7% went to numerous other countries, indicating a wide partner landscape.

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

Following two years of growth, Spain's exports of solvent-based polymer paints and varnishes in value terms declined. In 2020, exports amounted to 473.8 million US dollars, corresponding to a modest 5.8% reduction compared to the previous year. Between 2017 and 2020, exports increased by 15.6%, equating to an average annual rate of 4.9%. The highest value was recorded in 2019 at 502.7 million US dollars, while the largest increase occurred in 2018 at 15.9%.

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

Over the 2017-2020 period, the country breakdown of Spain's exports in value terms remained scattered. Portugal contributed 15.3% of exports, France 14.8%, and Germany 9.0%, together accounting for 39.1% of total flows. No single partner emerged as clearly dominant, reflecting a diversified export structure.

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

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

Imports solvent-based polymer paints and varnishes to Spain

Imports in kind, K t

Spain's imports of solvent-based polymer paints and varnishes in volume terms increased for the second consecutive year. In 2020, imports totalled 113.0 thousand tonnes, marking a 17.0% gain compared to the previous year. From 2017 to 2020, imports rose by 21.8%, with an average annual growth rate of 6.8%. The lowest volume was in 2018 at 85.3 thousand tonnes, and that year also saw the largest decline of 8.1%.

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

From 2017 to 2020, Italy, France, and Portugal were the main sources for Spain's imports of solvent-based polymer paints and varnishes in volume terms. Italy accounted for 26.8% of imports, France for 19.5%, and Portugal for 11.5%, together making up 57.8% of total 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

Spain's imports of solvent-based polymer paints and varnishes in value terms declined for the second year in a row. In 2020, imports were valued at 457.7 million US dollars, down by 4.3% compared to 2019. Between 2017 and 2020, imports increased by 3.2%, equating to an average annual rate of 1.1%. The peak was in 2018 at 457.7 million US dollars, and that year also recorded the largest increase of 9.7%.

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

From 2017 to 2020, France, Italy, and Germany continued to lead as the top suppliers of solvent-based polymer paints and varnishes to Spain in value terms. France accounted for 22.9% of imports, Italy for 21.7%, and Germany for 18.5%, jointly taking 63.1% of total imports.

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

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