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

Earlier Report Observations

The Estonian market for water-based acrylic and vinyl paints opened the period with a volume of 14 510 t in 2018, supported by the presence of leading regional manufacturers like the Finnish company Tikkurila and the broad popularity of durable, washable water-based paints for interior and exterior use. Market volume contracted significantly the following year, even as new product segments such as odorless acrylic paints for furniture and crafts emerged. A recovery to 13 383 t occurred in 2020, driven by the introduction of new, more environmentally friendly water-based paints suitable for high-humidity areas and strengthened by legislative emphasis on product safety and the absence of toxic solvents.

Innovation in acrylic paint formulations and advancing application technologies continued through 2021, expanding the range of suitable surfaces to include concrete and metal, while regulatory focus on eco-friendliness further shaped the market. The trend toward environmentally safe and health-conscious products solidified in 2022, with manufacturers investing in new paint and varnish compositions to meet stricter safety and environmental standards. During these years, the market's physical volume gradually declined, while its value in monetary terms grew, reflecting a shift toward higher-value, specialized products.

Market volume fell more notably to 10 773 t in 2023 before stabilizing around 10 725 t in 2024. In contrast, the market's value demonstrated resilience, increasing to $19.4 million USD by 2024.

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

In value, 2018-2021, K $ US

In 2021, the output of water-based acrylic or vinyl paints and varnishes in Estonia was valued at 20,257 thousand US dollars, showing little change from the previous year. Over the period from 2018 to 2021, production decreased by 7.6%, with a compound annual growth rate of -2.6%. The lowest value was recorded in 2019 at 17,362 thousand US dollars, which saw the largest decline of 20.8%. In contrast, 2020 experienced the largest increase of 17.0%.

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

In kind, 2018-2021, t

In 2021, Estonia produced 9,210 tonnes of water-based acrylic or vinyl paints and varnishes, marking a moderate decline of 7.4% compared to 2020. From 2018 to 2021, production decreased by 13.9%, with a compound annual growth rate of -4.9%. The lowest volume was recorded in 2019 at 8,872 tonnes, which saw the largest decline of 17.0%. Conversely, 2020 had the largest increase of 12.1%.

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

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

Exports in kind, t

Exports of water-based acrylic or vinyl paints and varnishes from Estonia increased for the third consecutive year. In 2021, exports amounted to 12,023 tonnes, reflecting a modest increase of 5.3% year-over-year. Over the period from 2018 to 2021, exports grew by 15.3%, with a compound annual growth rate of 4.9%.

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

From 2018 to 2021, Latvia, Lithuania, and Sweden were the key destinations for exports in kind, accounting for 32.2%, 21.2%, and 13.1% of total exports, respectively. Together, these three countries represented 66.5% of all 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

Exports of water-based acrylic or vinyl paints and varnishes from Estonia increased for the third consecutive year. In 2021, exports totalled 32,963 thousand US dollars, representing a strong increase of 14.1% compared to the previous year. Over the period from 2018 to 2021, exports grew by 25.5%, with a compound annual growth rate of 7.9%.

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

From 2018 to 2021, the largest buyers of water-based acrylic or vinyl paints and varnishes from Estonia in value terms were Latvia, Lithuania, and Sweden, accounting for 30.8%, 21.8%, and 13.6% of total exports, respectively. Together, these three countries formed 66.2% of all export value.

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

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

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

Imports in kind, t

Imports of water-based acrylic or vinyl paints and varnishes into Estonia increased for the second consecutive year. In 2021, imports were recorded at 15,989 tonnes, marking a measured uptick of 7.6% compared to the previous year. Over the period from 2018 to 2021, imports grew by 12.3%, with a compound annual growth rate of 3.9%. The lowest volume was recorded in 2019 at 13,188 tonnes, which saw a decline of 7.4%. In contrast, 2020 experienced the largest increase of 12.7%.

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

From 2018 to 2021, Sweden, Finland, and Latvia stood out as the main sources for imports in kind, accounting for 40.0%, 19.2%, and 18.2% of total imports, respectively. Together, these three countries represented 77.4% of all 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

Imports of water-based acrylic or vinyl paints and varnishes into Estonia increased for the second consecutive year. In 2021, imports came to 30,635 thousand US dollars, marking a robust increase of 12.6% compared to 2020. Over the period from 2018 to 2021, imports grew by 17.3%, with a compound annual growth rate of 5.5%. The lowest value was recorded in 2019 at 24,765 thousand US dollars, which saw a decline of 5.2%.

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

From 2018 to 2021, the leading destinations for imports in value terms of water-based acrylic or vinyl paints and varnishes to Estonia were Sweden, Finland, and Germany, accounting for 35.5%, 24.4%, and 6.8% of total imports, respectively. Together, these three countries jointly accounted for 66.6% of all 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