Water-based acrylic or vinyl paints and varnishes market in Belgium

Earlier Report Observations

Between 2018 and 2020, the market volume for water-based acrylic or vinyl paints and varnishes in Belgium increased from 52 408 t to 57 075 t. This growth was primarily driven by the strict enforcement of VOC emission regulations, including the 2014 royal decree and EU Directive 2004/42/EC, which accelerated the shift towards compliant water-based formulations. The ongoing trend favoring low-VOC paints for their environmental and performance benefits further supported demand, while the COVID-19 pandemic in 2020 disrupted global raw material supply chains without halting market expansion.

After the 2020 peak, the market contracted to 52 354 t in 2021 and 46 622 t in 2022. The European Green Deal introduced stricter environmental criteria, pushing manufacturers to invest in sustainable product development and transparency. A sharp rise in production costs for energy, transport, and labor during 2022 increased final prices, reducing consumption volumes. Concurrently, the market saw the entry or strengthened presence of major international players like AkzoNobel, PPG, and Sherwin-Williams, who invested in local production and distribution capacities, reshaping the competitive landscape.

Market volume experienced a slight recovery to 47 385 t in 2023 before declining to 42 792 t in 2024. This period reflected continued adjustment to persistent high operating costs and the full implementation of stringent environmental standards, leading to a phase of consolidation and stabilized demand.

Production water-based acrylic or vinyl paints and varnishes in Belgium

In value, 2017-2020, M $ US

Belgium's production of water-based acrylic or vinyl paints and varnishes has grown for the third year in a row. In 2020, the output was valued at 118.6 million US dollars, showing a slight increase of 2.0% compared to the previous year. From 2017 to 2020, production rose by 6.7%, which translates to an average annual growth rate of 2.2%.

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

In kind, 2017-2020, t

Belgium's production of water-based acrylic or vinyl paints and varnishes has increased for the second consecutive year. In 2020, the country produced 25 277 tonnes, marking a modest improvement of 3.8% over 2019. Over the period from 2017 to 2020, production grew by 6.1%, with a compound annual growth rate of 2.0%. The lowest production level was recorded in 2018 at 23 664 tonnes, which also saw the largest decline of 0.7% during this timeframe.

Annual dynamics of production in Belgium in kind, 2017-2020, t

Exports water-based acrylic or vinyl paints and varnishes from Belgium

Exports in kind, t

Belgium's exports of water-based acrylic or vinyl paints and varnishes have risen for the third year in a row. In 2020, exports reached 26 539 tonnes, representing a moderate increase of 5.6% compared to 2019. From 2017 to 2020, exports expanded by 16.2%, with an average annual growth rate of 5.1%.

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

From 2017 to 2020, the Netherlands, France, and Germany were the main destinations for Belgium's exports of water-based acrylic or vinyl paints and varnishes in volume terms. The Netherlands accounted for 26.1% of exports, France for 20.6%, and Germany for 7.2%. Together, these three countries absorbed 53.9% of total exports.

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

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

Exports in value, M $ US

In 2020, Belgium's exports of water-based acrylic or vinyl paints and varnishes were valued at 91.1 million US dollars, showing a slight increase of 0.7% compared to 2019. However, from 2017 to 2020, overall exports decreased by 2.9%, with an average annual decline of 1.0%. The lowest value was recorded in 2019 at 90.5 million US dollars, which also saw the largest decline of 6.8%. In contrast, the highest value was in 2018 at 97.0 million US dollars, marking the largest increase of 3.4% during this period.

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

Between 2017 and 2020, Belgium's exports of water-based acrylic or vinyl paints and varnishes in value terms were distributed across a wide range of markets. The Netherlands accounted for 18.6% of exports, France for 17.2%, and Germany for 8.7%. Together, these three countries made up 44.5% of total exports, while numerous smaller destinations contributed the remaining 55.5%.

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

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

Imports water-based acrylic or vinyl paints and varnishes to Belgium

Imports in kind, t

Belgium's imports of water-based acrylic or vinyl paints and varnishes have grown for the second consecutive year. In 2020, the country imported 58 338 tonnes, which is 8.3% higher than in the previous year. From 2017 to 2020, imports increased by 9.8%, with an average annual growth rate of 3.2%. The lowest import volume was recorded in 2018 at 52 404 tonnes, which also experienced the largest decline of 1.4% during this timeframe.

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

From 2017 to 2020, the Netherlands, Germany, and France were consistently the main sources for Belgium's imports of water-based acrylic or vinyl paints and varnishes in volume terms. The Netherlands accounted for 48.5% of imports, Germany for 29.1%, and France for 16.7%. Together, these three countries supplied 94.3% of total imports.

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

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

Imports in value, M $ US

In 2020, Belgium's imports of water-based acrylic or vinyl paints and varnishes were valued at 141.1 million US dollars, reflecting a gradual increase of 7.4% compared to the previous year. From 2017 to 2020, imports rose by 7.0%, with an average annual growth rate of 2.3%. The lowest value was recorded in 2019 at 131.4 million US dollars, which also saw the largest decline of 4.3% during this period.

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

Between 2017 and 2020, Germany, the Netherlands, and France were the primary sources for Belgium's imports of water-based acrylic or vinyl paints and varnishes in value terms. Germany accounted for 39.3% of imports, the Netherlands for 39.1%, and France for 15.0%. Together, these three countries absorbed 93.4% of total imports.

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

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