Water-based polymer paints and varnishes market in Bosnia and Herzegovina

Earlier Report Observations

The market for water-based polymer paints and varnishes in Bosnia and Herzegovina showed varied volume from 2018 to 2024. The initial market size of 27 649 tons in 2018 was characterized by active local production, with Chiara established as a significant producer and distributor influencing the market.

Market volume declined over the next two years, then recovered to 26 601 tons in 2021. In 2022, a downturn to 23 893 tons occurred despite increased construction activity reported in the real estate sector, which often drives demand for painting materials.

A slight rebound followed in 2023 to 24 853 tons, before a further decrease to 23 562 tons in 2024, indicating a period of market adjustment.

Production water-based polymer paints and varnishes in Bosnia and Herzegovina

In value, 2018-2021, K $ US

Bosnia and Herzegovina's production of water-based polymer paints and varnishes has increased for the second year in a row. In 2021, output reached 4 667 thousand US dollars, representing a significant 53.7% jump compared to the previous year. Looking at the period from 2018 to 2021, production grew by 42.7%, with an average annual growth rate of 12.6%. The lowest production value was recorded in 2019 at 2 895 thousand US dollars, which also saw the largest decline of 11.5%.

Annual dynamics of production in Bosnia and Herzegovina in value, 2018-2021, K $ US

In kind, 2018-2021, t

Production of water-based polymer paints and varnishes in Bosnia and Herzegovina has risen for the second consecutive year. In 2021, the country produced 7 695 tonnes, marking a 21.0% increase over the previous year. From 2018 to 2021, production expanded by 27.8%, translating to an average annual growth rate of 8.5%. The lowest output was in 2019 at 5 231 tonnes, which experienced the largest decline of 13.2%. In contrast, the biggest increase occurred in 2020, with a 21.6% rise.

Annual dynamics of production in Bosnia and Herzegovina in kind, 2018-2021, t

Exports water-based polymer paints and varnishes from Bosnia and Herzegovina

Exports in kind, t

Bosnia and Herzegovina's exports of water-based polymer paints and varnishes have grown for the third year in a row. In 2021, the country exported 1 408 tonnes, showing a 14.4% gain compared to 2020. Over the 2018-2021 period, exports surged by 91.1%, with an average annual growth rate of 24.1%.

Annual dynamics of product's exports from Bosnia and Herzegovina in kind, 2018-2021, t

From 2018 to 2021, Norway, Italy, and Serbia remained the top buyers of water-based polymer paints and varnishes from Bosnia and Herzegovina. Norway led with 64.8% of exports in kind, followed by Italy at 8.2% and Serbia at 6.5%. Together, these three countries accounted for 79.5% of total exports in kind.

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

World map of product's exports from Bosnia and Herzegovina in kind, 2018-2021

Exports in value, K $ US

Bosnia and Herzegovina's cross-border shipments of water-based polymer paints and varnishes have increased for the third consecutive year. In 2021, exports amounted to 3 751 thousand US dollars, reflecting a solid 10.6% rise compared to 2020. Between 2018 and 2021, exports grew by 82.2%, with an average annual growth rate of 22.1%.

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

Throughout 2018 to 2021, Norway dominated Bosnia and Herzegovina's exports in value terms, holding an 80.4% share of total flows. Other markets collectively accounted for the remaining portion.

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

World map of product's exports from Bosnia and Herzegovina in value, 2018-2021

Imports water-based polymer paints and varnishes to Bosnia and Herzegovina

Imports in kind, t

After a two-year decline, Bosnia and Herzegovina's imports of water-based polymer paints and varnishes have rebounded. In 2021, imports stood at 20 314 tonnes, indicating a moderate 4.2% increase over the past year. However, over the 2018-2021 period, imports decreased by 9.2%, with an average annual decline of 3.2%. The lowest import volume was recorded in 2020 at 19 503 tonnes, which also saw the largest drop of 8.0%.

Annual dynamics of product's imports to Bosnia and Herzegovina in kind, 2018-2021, t

From 2018 to 2021, Serbia was the central partner for Bosnia and Herzegovina's imports in kind, accounting for 74.7% of total flows. Other markets played a less significant role in the import structure.

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

World map of product's imports to Bosnia and Herzegovina in kind, 2018-2021

Imports in value, K $ US

Following a two-year downturn, Bosnia and Herzegovina's imports of water-based polymer paints and varnishes have increased. In 2021, imports reached 18 883 thousand US dollars, showing an 18.1% year-on-year rise. The lowest value was recorded in 2020 at 15 996 thousand US dollars, while the largest decline occurred in 2019 with a 10.8% drop.

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

Between 2018 and 2021, Serbia, Italy, and Slovenia were the main suppliers of water-based polymer paints and varnishes to Bosnia and Herzegovina in value terms. Serbia led with a 41.0% share, followed by Italy at 23.1% and Slovenia at 9.0%. Together, these three countries made up 73.1% of total imports in value terms.

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

World map of product's imports to Bosnia and Herzegovina in value, 2018-2021