Water-based polymer paints and varnishes market in Finland

Earlier Report Observations

The Finnish water-based polymer paints and varnishes market displayed notable volatility in volume between 2018 and 2024. After rising to a peak of 51 181 t in 2019, market volume fell sharply in 2020 to 44 279 t and then stabilized for two years before entering a renewed period of contraction from 2022 onward, culminating at 37 112 t by 2024.

This volume trajectory contrasted with a more subdued movement in market value, which showed greater resilience and less pronounced swings. Despite the sharp volume growth in 2019, the total market value in that year actually declined to $169.6 million, suggesting a shift toward more economical products or lower average prices. The market value then partially recovered, peaking at $178.4 million in 2021 before gradually declining to $158.7 million in 2024.

Domestic production was a key driver of the internal market's supply, rising significantly from 60 887 t in 2018 to a high of 72 565 t in 2021. This period of expansion was followed by a steep decline in output over the subsequent three years. Concurrently, export volumes, particularly strong in 2020 and 2021, and import levels also fluctuated, collectively shaping the final size of the domestic market available to Finnish consumers.

Production water-based polymer paints and varnishes in Finland

In value, 2017-2020, M $ US

Finland's production of water-based polymer paints and varnishes has grown for the third year in a row. In 2020, output reached 234.1 million US dollars, up 7.6% from 2019. From 2017 to 2020, production rose by 18.8%, averaging an annual growth rate of 5.9%.

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

In kind, 2017-2020, t

Finland's production of water-based polymer paints and varnishes increased for the second consecutive year. In 2020, output totaled 69 939 tonnes, a 5.5% rise from the previous year. Between 2017 and 2020, production grew by 13.2%, with an average annual rate of 4.2%. The lowest production level was in 2018 at 60 887 tonnes, which saw the largest decline of 1.4%. In contrast, 2019 recorded the highest growth at 8.9%.

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

Exports water-based polymer paints and varnishes from Finland

Exports in kind, t

Finland exported 36 324 tonnes of water-based polymer paints and varnishes in 2020, a 45.5% year-on-year increase. From 2017 to 2020, exports rose by 26.8%, with a compound annual growth rate of 8.2%. The lowest export volume was in 2019 at 24 964 tonnes, which also experienced the largest decline of 18.0%.

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

From 2017 to 2020, Sweden, Russia, and Estonia were the top buyers of water-based polymer paints and varnishes from Finland, accounting for 70.8% of total exports by volume. Sweden led with 31.5%, followed by Russia at 28.5%, and Estonia at 10.8%.

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

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

Exports in value, K $ US

Finland's exports of water-based polymer paints and varnishes have increased for the third consecutive year. In 2020, export value reached 92 520 thousand US dollars, up 8.7% from the previous year. Between 2017 and 2020, exports grew by 28.1%, averaging an annual rate of 8.6%.

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

From 2017 to 2020, Russia, Sweden, and Estonia were the main markets for Finland's exports of water-based polymer paints and varnishes by value, together representing 66.8% of total flows. Russia accounted for 29.2%, Sweden for 29.0%, and Estonia for 8.7%.

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

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

Imports water-based polymer paints and varnishes to Finland

Imports in kind, t

After a two-year decline, Finland's imports of water-based polymer paints and varnishes increased in 2020. Imports stood at 10 664 tonnes, up 8.3% from 2019. Over the period 2017-2020, imports decreased by 16.7%, with a compound annual growth rate of -5.9%. The lowest import volume was in 2019 at 9 843 tonnes, which saw the largest decline of 23.0%.

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

From 2017 to 2020, Sweden, Germany, and Denmark were the primary sources of water-based polymer paints and varnishes imports to Finland, accounting for 76.5% of total imports by volume. Sweden contributed 39.0%, Germany 27.5%, and Denmark 9.9%.

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

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

Imports in value, K $ US

Finland's imports of water-based polymer paints and varnishes declined for the second consecutive year. In 2020, import value was down 2.5% from the previous year. Between 2017 and 2020, imports decreased by 3.3%, with an average annual decline of 1.1%. The highest import value was in 2018 at 41 631 thousand US dollars, which also saw the largest increase of 11.3%. In contrast, 2019 recorded the largest decline of 10.9%.

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

From 2017 to 2020, Germany, Sweden, and Denmark played leading roles in Finland's imports of water-based polymer paints and varnishes by value, jointly accounting for 77.4% of total flows. Germany led with 41.3%, followed by Sweden at 26.6%, and Denmark at 9.5%.

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

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