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

Earlier Report Observations

Supported by established domestic producers like CHEMOLAK a.s., the Slovak market for water-based acrylic or vinyl paints and varnishes expanded significantly between 2018 and 2020, with volume rising from 28 473 tons to 38 789 tons. This growth was primarily driven by rising demand from artistic and creative applications, where water-based acrylics gained popularity due to their quick drying time and lower environmental impact. Additionally, the electronics industry's increased use of conductive paints, which often rely on similar polymer bases, contributed to higher consumption.

In 2021, however, market volume fell sharply to 26 222 tons. This decline coincided with the advancement of powder coating technologies, which offered improved UV and chemical resistance along with greater production efficiency. As manufacturers adopted these powder-based alternatives, demand for traditional liquid water-based paints decreased.

Beyond 2021, the market continued to be shaped by several key trends. The commissioning of ultramodern production halls enabled more efficient manufacturing of water-based varnishes, while interior design preferences shifted toward eco-friendly materials like water-based wallpapers and coatings. Simultaneously, ongoing innovations in powder coating further solidified its position as a competitive surface treatment option.

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

In value, 2017-2020, K $ US

Slovakia'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 3 806 thousand US dollars, marking a 7.5% increase compared to 2019. From 2017 to 2020, production rose by 32.2%, which translates to an average annual growth rate of 9.7%.

Annual dynamics of production in Slovakia in value, 2017-2020, K $ US

In kind, 2017-2020, t

Following two years of growth, Slovakia's production volume of water-based acrylic or vinyl paints and varnishes saw a decline. In 2020, the country produced 3 086 tonnes, down 9.0% from the previous year. Over the 2017-2020 period, production increased by 12.4%, with a compound annual growth rate of 4.0%. The peak was in 2019 at 3 393 tonnes, while the largest year-on-year increase occurred in 2018 at 15.0%.

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

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

Exports in kind, t

Slovakia's exports of water-based acrylic or vinyl paints and varnishes have risen for the second consecutive year. In 2020, the country exported 1 528 tonnes, a 61.7% jump compared to 2019. From 2017 to 2020, exports grew by 67.1%, averaging an 18.7% annual increase. The lowest point was in 2018 at 787 tonnes, which also saw the steepest decline of 14.0% that year.

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

Between 2017 and 2020, the main buyers of Slovakia's water-based acrylic or vinyl paints and varnishes were Czechia, accounting for 54.0% of exports in volume, Ukraine with 8.3%, and Poland at 7.0%. Together, these three countries made up 69.2% of total export volumes.

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

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

Exports in value, K $ US

After two years of decline, Slovakia's export value of water-based acrylic or vinyl paints and varnishes rebounded. In 2020, exports totaled 3 847 thousand US dollars, up 15.4% from the previous year. Over the 2017-2020 period, however, exports decreased by 2.3%, with a modest average annual decline of 0.8%. The lowest value was recorded in 2019 at 3 333 thousand US dollars, which also experienced the largest drop of 11.7%.

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

From 2017 to 2020, Czechia dominated Slovakia's export market for water-based acrylic or vinyl paints and varnishes in value terms, consistently holding 81.4% of total exports. This highlights a strong reliance on this single market, with the remaining share distributed among other countries.

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

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

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

Imports in kind, t

Slovakia's imports of water-based acrylic or vinyl paints and varnishes have increased for the second year in a row. In 2020, the country imported 37 231 tonnes, a 17.5% rise year-on-year. However, over the 2017-2020 period, imports fell by 7.7%, with an average annual decrease of 2.6%. The lowest volume was in 2018 at 26 101 tonnes, which saw the sharpest decline of 35.3%. In contrast, the largest increase occurred in 2019 at 21.4%.

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

During 2017-2020, the leading sources for Slovakia's imports of water-based acrylic or vinyl paints and varnishes by volume were Czechia with 41.3%, Germany at 34.0%, and Hungary with 4.2%. Combined, these three countries represented 79.5% of total import volumes.

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

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

Imports in value, K $ US

Following two years of growth, Slovakia's import value of water-based acrylic or vinyl paints and varnishes dipped. In 2020, imports amounted to 42 321 thousand US dollars, a slight decrease of 0.7% from the previous year. From 2017 to 2020, imports overall increased by 5.9%, averaging a 1.9% annual growth rate. The highest value was in 2019 at 42 637 thousand US dollars, while the largest year-on-year increase was in 2018 at 5.3%.

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

In the 2017-2020 period, the top sources for Slovakia's imports of water-based acrylic or vinyl paints and varnishes by value were Czechia with 35.8%, Germany at 26.1%, and Sweden with 6.6%. Together, these countries accounted for 68.5% of total import value.

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

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