Water-based polymer paints and varnishes market in Greece

Earlier Report Observations

From 2018 to 2020, the Greek market for water-based polymer paints and varnishes expanded in volume from 69 thousand tons to over 80 thousand tons. This growth was primarily fueled by increased construction activity, which directly raised demand for architectural coatings. Simultaneously, consumer preference shifted towards eco-friendly and low-VOC products, prompting manufacturers to develop and promote such lines. The market stabilized in 2020 as the COVID-19 pandemic temporarily affected construction projects, though demand for certified and sustainable paints remained strong.

Beyond 2020, while comprehensive market size data is not available, trade figures indicate notable movements. Greek exports of these paints rose consistently, from 21 thousand tons in 2020 to 25.6 thousand tons in 2022. This expansion was supported by ongoing investments from domestic producers in modern production technologies and new product lines, enhancing their competitiveness. Additionally, the industry's focus on sustainability was underscored by certifications like the OK Recycled scheme for packaging, aligning with global environmental trends. Imports fluctuated during this period, reflecting adjustments in domestic supply and demand.

In 2023 and 2024, export growth accelerated, reaching 39 thousand tons in 2024, while imports also increased to 14 thousand tons in 2024. This sustained export performance highlights the strengthened position of Greek manufacturers in international markets.

Production water-based polymer paints and varnishes in Greece

In value, 2017-2020, M $ US

Greece'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 169.6 million US dollars, showing a moderate increase of 4.1% compared to 2019. From 2017 to 2020, production rose by 20.3%, which translates to an average annual growth rate of 6.3%.

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

In kind, 2017-2020, t

Greece's production of water-based polymer paints and varnishes has increased for the second consecutive year. In 2020, the country produced 91 861 tonnes, up by 2.6% year-on-year. Over the period from 2017 to 2020, production grew by 12.3%, with a compound annual growth rate of 3.9%. The lowest production level was recorded in 2018 at 75 984 tonnes. That year also saw the largest decline of 7.1%, while the biggest increase occurred in 2019 with a 17.8% rise.

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

Exports water-based polymer paints and varnishes from Greece

Exports in kind, t

Exports of water-based polymer paints and varnishes from Greece have risen for the third consecutive year. In 2020, export volumes reached 21 023 tonnes, marking a strong increase of 15.2% compared to 2019. From 2017 to 2020, exports grew by 52.8%, with a compound annual growth rate of 15.2%.

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

Between 2017 and 2020, Cyprus, Albania, and Bulgaria were the main markets for Greece's exports in volume terms. Cyprus accounted for 25.2% of exports, Albania for 21.7%, and Bulgaria for 18.8%. Together, these three countries represented 65.7% of total export flows.

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

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

Exports in value, K $ US

Greece's exports of water-based polymer paints and varnishes have increased for the third year in a row. In 2020, exports amounted to 34 336 thousand US dollars, showing a strong rise of 14.0% compared to the previous year. From 2017 to 2020, exports grew by 31.4%, with a compound annual growth rate of 9.5%.

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

From 2017 to 2020, Cyprus, Albania, and Bulgaria accounted for the largest share of Greece's exports in value terms. Cyprus represented 26.5% of exports, Albania 19.5%, and Bulgaria 16.4%. Combined, these three markets made up 62.5% of total export flows.

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

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

Imports water-based polymer paints and varnishes to Greece

Imports in kind, t

In 2020, Greece's imports of water-based polymer paints and varnishes totaled 9 476 tonnes, which is 5.2% higher than the previous year. Over the period from 2017 to 2020, imports increased by 23.7%, with a compound annual growth rate of 7.3%. The largest decline was recorded in 2019 at 0.2%, while the biggest increase occurred in 2018 with a 17.8% rise.

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

Between 2017 and 2020, Italy, Germany, and Romania were the main sources of imports in volume terms for Greece. Italy accounted for 32.6% of imports, Germany for 17.2%, and Romania for 11.0%. Together, these three countries absorbed 60.9% of total import flows.

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

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

Imports in value, K $ US

In 2020, Greece's imports of water-based polymer paints and varnishes amounted to 25 830 thousand US dollars, representing a 7.9% increase over the past year. From 2017 to 2020, imports grew by 15.2%, with a compound annual growth rate of 4.8%. The highest value was recorded in 2018 at 26 365 thousand US dollars. That year also saw the largest increase of 17.5%, while the biggest decline occurred in 2019 with a 9.2% drop.

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

Throughout 2017 to 2020, Italy, Germany, and the United Kingdom remained the key sources for Greece's imports in value terms. Italy accounted for 42.9% of imports, Germany for 18.7%, and the United Kingdom for 7.1%. Together, these three countries took 68.7% of total import flows.

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

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