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

Earlier Report Observations

The Portuguese market for water-based acrylic or vinyl paints and varnishes showed significant volume fluctuations between 2018 and 2024. Consumption grew from 96.4 thousand tons in 2018 to a peak of 105.8 thousand tons in 2020, marking a period of expansion. This was followed by a two-year contraction, with the market size falling to 90.9 thousand tons in 2022. A strong rebound occurred in 2023, lifting volume to 102.7 thousand tons, before a moderate decline to 98.5 thousand tons in 2024.

In value terms, the market exhibited similar volatility but reached higher monetary peaks. The market value grew consistently from 217.0 million US dollars in 2018 to 239.8 million in 2021. After a dip to 220.7 million in 2022, it surged to its highest point of 257.7 million in 2023, reflecting a notable price or mix improvement, before settling at 242.2 million in 2024. The overall trend indicates a market that recovered in value terms more robustly than in volume after the 2022 low.

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

In value, 2018-2021, M $ US

Portugal's production of water-based acrylic or vinyl paints and varnishes declined after two years of growth. In 2021, output was valued at 219.7 million US dollars, showing a slight contraction of 2.4% year-over-year. Over the period from 2018 to 2021, production increased by 13.9%, with a compound annual growth rate of 4.4%. The highest value was recorded in 2020 at 225.1 million US dollars, while the largest increase occurred in 2019 at 11.6%.

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

In kind, 2018-2021, K t

After two years of growth, water-based acrylic or vinyl paints and varnishes production in Portugal declined. In 2021, 96.3 thousand tonnes were produced, down by 6.7% year-over-year. Between 2018 and 2021, production increased by 8.9%, equating to an annualized rate of 2.9%. The peak was recorded in 2020 at 103.3 thousand tonnes, with the largest increase in 2019 at 13.8%.

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

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

Exports in kind, t

Water-based acrylic or vinyl paints and varnishes exports from Portugal increased for the third consecutive year. In 2021, exports totalled 15 342 tonnes, up by 19.1% year-over-year. Over the period from 2018 to 2021, exports grew by 68.8%, with a compound annual growth rate of 19.1%.

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

From 2018 to 2021, exports in kind of water-based acrylic or vinyl paints and varnishes from Portugal were largely oriented towards Spain and France. Their combined share reached 88.5% of total flows, with other destinations playing a secondary role.

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, K $ US

Water-based acrylic or vinyl paints and varnishes shipments from Portugal abroad increased for the second consecutive year. In 2021, Portugal exported 24 665 thousand US dollars of these products, reflecting a 30.9% increase compared to the previous year. Between 2018 and 2021, exports rose by 34.4%, equating to an annualized rate of 10.3%. The lowest value was recorded in 2019 at 18 044 thousand US dollars, with the largest decline also in 2019 at 1.7%.

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

From 2018 to 2021, Spain and France concentrated the majority of exports in value terms of water-based acrylic or vinyl paints and varnishes from Portugal, while other markets formed a less significant portion.

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

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

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

Imports in kind, t

Imported water-based acrylic or vinyl paints and varnishes volumes in Portugal increased for the second consecutive year. In 2021, imports came to 18 220 tonnes, representing an 18.1% gain year-over-year. Over the period from 2018 to 2021, imports increased by 6.9%, with a compound annual growth rate of 2.2%. The lowest value was recorded in 2019 at 14 375 tonnes, with the largest decline also in 2019 at 15.7%.

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

Throughout 2018 to 2021, Spain, Italy, and Germany remained the key directions for imports in kind of water-based acrylic or vinyl paints and varnishes to Portugal. Spain accounted for 52.2% of imports in kind, Italy for 25.0%, and Germany for 9.1%, together taking 86.3% of total 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, K $ US

After a two-year decrease, water-based acrylic or vinyl paints and varnishes imports to Portugal increased. In 2021, import volume amounted to 44 750 thousand US dollars, reflecting a steep gain of 39.9% compared with 2020. Over the period from 2018 to 2021, imports increased by 5.1%, with a compound annual growth rate of 1.7%. The lowest value was recorded in 2020 at 31 996 thousand US dollars, while the largest decline occurred in 2019 at 23.3%.

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

Throughout 2018 to 2021, Spain, Italy, and Germany remained the main markets for imports in value terms of water-based acrylic or vinyl paints and varnishes to Portugal. Spain accounted for 58.5% of imports in value terms, Italy for 11.4%, and Germany for 10.5%, jointly taking 80.4% of total flows.

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

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