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

Earlier Report Observations

Between 2018 and 2020, production of water-based acrylic or vinyl paints and varnishes in Greece increased from 71 409 tonnes to 87 575 tonnes, while the market volume grew from 69 105 tonnes to 82 408 tonnes. In value terms, production rose from 130.1 million USD to 157.8 million USD and market size from 129.9 million USD to 153.1 million USD. This expansion was supported by the market's reliance on water-based paints for exterior applications, which emphasized quality and weather resistance, sustaining demand from construction and renovation sectors.

From 2021 to 2024, import volumes climbed from 5 908 tonnes to 10 077 tonnes and export volumes advanced from 11 072 tonnes to 14 612 tonnes. The sharp rise in imports during 2024 coincided with strengthened consumer preference for eco-friendly products and new decoration trends, as highlighted in market developments for 2023-2024, while consistent export growth reflected the international competitiveness of Greek manufacturers.

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

In value, 2017-2020, M $ US

Greece's production of water-based acrylic or vinyl paints and varnishes has increased for the second consecutive year. In 2020, the output was valued at 157.8 million US dollars, marking a moderate gain of 4.8% compared to the previous year. Over the period from 2017 to 2020, production rose by 21.2%, with a compound annual growth rate (CAGR) of 6.6%. The lowest value was recorded in 2018 at 130.1 million US dollars. The largest decline occurred in 2018, with a decrease of 0.1%, while the largest increase was in 2019, at 15.8%.

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

In kind, 2017-2020, t

Greece's production volume of water-based acrylic or vinyl paints and varnishes has increased for the second consecutive year. In 2020, 87 575 tonnes were produced, corresponding to a 3.2% increase compared to 2019. From 2017 to 2020, production grew by 12.5%, with a compound annual growth rate (CAGR) of 4.0%. The lowest volume was recorded in 2018 at 71 409 tonnes. The largest decline was in 2018, with an 8.2% decrease, while the largest increase was in 2019, at 18.9%.

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

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

Exports in kind, t

Exports of water-based acrylic or vinyl paints and varnishes from Greece have increased for the third consecutive year. In 2020, Greece exported 9 927 tonnes, reflecting a significant year-on-year increase of 13.6%. Over the period from 2017 to 2020, exports rose by 55.1%, with a compound annual growth rate (CAGR) of 15.7%.

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

From 2017 to 2020, the leading destinations for Greece's exports of water-based acrylic or vinyl paints and varnishes in kind were Cyprus, accounting for 32.5% of exports, Albania with 29.7%, and Bulgaria at 18.2%. Together, these three countries represented 80.4% of total export flows.

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

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

Exports in value, K $ US

Exports of water-based acrylic or vinyl paints and varnishes from Greece have increased for the third consecutive year. In 2020, exports totalled 16 244 thousand US dollars, amounting to a 12.8% increase compared to the previous year. Between 2017 and 2020, exports grew by 54.3%, equating to an annualized rate of 15.6%.

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

From 2017 to 2020, the main markets for Greece's exports in value terms were Cyprus, representing 33.5% of exports, Albania with 27.8%, and Bulgaria at 15.8%. Collectively, these three countries accounted for 77.2% of total export flows.

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

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

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

Imports in kind, t

In 2020, Greece's import volume of water-based acrylic or vinyl paints and varnishes stood at 4 760 tonnes, showing a controlled improvement of 3.8% relative to the prior year. Between 2017 and 2020, imports increased by 12.7%, equating to an annualized rate of 4.1%. The largest decline was recorded in 2019, with a 3.1% decrease, while the largest increase occurred in 2018, at 12.1%.

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

From 2017 to 2020, Italy led the structure of Greece's imports in kind, accounting for 37.5% of imports, followed by Germany at 21.2%, and the Netherlands with 9.5%. Together, these three countries represented 68.2% of total import flows.

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

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

Imports in value, K $ US

In 2020, Greece's imports of water-based acrylic or vinyl paints and varnishes came to 11 479 thousand US dollars, marking a small increase of 1.6% versus the previous year. Between 2017 and 2020, imports rose by 8.2%, equating to an annualized rate of 2.7%. The highest value was recorded in 2018 at 12 443 thousand US dollars. The largest decline was in 2019, with a 9.2% decrease, while the largest increase was in 2018, at 17.3%.

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

From 2017 to 2020, Italy accounted for the largest share of Greece's imports in value terms, at 34.4%, followed by Germany with 25.1%, and the Netherlands at 8.7%. Together, these three countries comprised 68.1% of total import flows.

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

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