Water-based polymer paints and varnishes market in Croatia

Earlier Report Observations

The Croatian market for water-based polymer paints and varnishes grew steadily from 24 829 tonnes in 2018 to 32 903 tonnes in 2020, with its value increasing from 31.6 million to 37.0 million US dollars. The most significant annual expansion occurred in 2019.

A sharp downturn followed in 2021, when market volume contracted to 19 066 tonnes. A strong recovery to 25 372 tonnes took place in 2022, fueled by higher consumer spending on outdoor furniture and wooden floors and by stricter environmental rules limiting volatile organic compounds (VOC), which accelerated the adoption of water-based coatings.

Market growth resumed in 2023, reaching 33 272 tonnes, before volume fell back to 25 622 tonnes in 2024.

Production water-based polymer paints and varnishes in Croatia

In value, 2017-2020, K $ US

Croatia's production of water-based polymer paints and varnishes has grown for the third year in a row. In 2020, the output was valued at 24 532 thousand US dollars, marking a 4.3% increase compared to 2019. Over the period from 2017 to 2020, production surged by 82.1%, which translates to an average annual growth rate of 22.1%.

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

In kind, 2017-2020, t

Production of water-based polymer paints and varnishes in Croatia has risen for the third consecutive year. In 2020, Croatia produced 30 084 tonnes, up 1.2% from the previous year. From 2017 to 2020, production grew by 68.5%, with a compound annual growth rate of 19.0%.

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

Exports water-based polymer paints and varnishes from Croatia

Exports in kind, t

Exports of water-based polymer paints and varnishes from Croatia have declined for the second year in a row. In 2020, Croatia exported 8 341 tonnes, a 5.3% decrease compared to 2019. Between 2017 and 2020, exports fell by 31.2%, averaging an annual decline of 11.7%. The peak was in 2018 at 12 484 tonnes, followed by the largest drop of 29.5% in 2019. In 2018, exports saw a modest increase of 3.0%.

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

From 2017 to 2020, the main markets for Croatia's exports in volume were Bosnia and Herzegovina, accounting for 25.6% of exports, Slovenia with 17.2%, and Serbia at 11.1%. Together, these three countries represented 53.9% of total export flows.

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

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

Exports in value, K $ US

Exports of water-based polymer paints and varnishes from Croatia have decreased for the second consecutive year. In 2020, exports amounted to 6 849 thousand US dollars, showing no change from the previous year. Over the 2017-2020 period, exports dropped by 25%, with an average annual decline of 9.1%. The highest value was recorded in 2018 at 10 225 thousand US dollars, followed by the largest fall of 32.9% in 2019. In 2018, exports increased by 12.0%.

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

Between 2017 and 2020, three key markets—Bosnia and Herzegovina, Slovenia, and Serbia—collectively accounted for 55.0% of the total value of water-based polymer paints and varnishes exported from Croatia.

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

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

Imports water-based polymer paints and varnishes to Croatia

Imports in kind, t

Imports of water-based polymer paints and varnishes into Croatia have increased for the second year in a row. In 2020, imports totaled 11 160 tonnes, up 2.1% from 2019. The lowest volume was in 2018 at 9 953 tonnes, which saw the largest decline of 10.1% that year. In 2019, imports rebounded with the largest increase of 9.9%.

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

From 2017 to 2020, the primary sources for Croatia's imports in volume were Slovenia, contributing 23.8% of imports, Germany at 22.1%, and Serbia with 16.8%. Together, these partners made up 62.8% of total import flows.

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

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

Imports in value, K $ US

After two years of growth, imports of water-based polymer paints and varnishes into Croatia declined. In 2020, imports were valued at 19 326 thousand US dollars, down 4.8% from the previous year. Over the 2017-2020 period, imports rose by 7.7%, averaging an annual increase of 2.5%. The peak was in 2019 at 20 293 thousand US dollars, with the largest rise of 8.3% occurring in 2018.

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

Between 2017 and 2020, the largest suppliers of water-based polymer paints and varnishes to Croatia in value terms were Germany, accounting for 38.0% of imports, Italy at 19.0%, and Slovenia with 10.2%. Combined, these three countries represented 67.3% of total import value.

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

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