Water-based polymer paints and varnishes market in Hungary

Earlier Report Observations

The market for water-based polymer paints and varnishes in Hungary saw its volume grow from 114 thousand t in 2018 to 116 thousand t in 2019, before contracting to 112 thousand t in 2020. Over the same period, the market's value demonstrated steady growth, rising from $160.3 million to $174.3 million, which points to an increase in average product prices or a change in the sales mix toward higher-value items.

Import volumes trended upward from 35 thousand t in 2018, reaching a high of 39 thousand t in 2021. After this peak, imports entered a downward phase, falling to 33.5 thousand t in 2023 and stabilizing around 33.7 thousand t in the following years. Meanwhile, exports varied between 8.8 thousand t and 11.8 thousand t across the 2018-2025 period, with a noticeable dip in 2022-2023 followed by a rebound to nearly 11.8 thousand t by 2025.

Domestic production held steady at approximately 90 thousand t in 2018 and 2019 but decreased to 87 thousand t in 2020. The subsequent adjustment in import levels, coupled with the recovery in export activity toward the end of the decade, contributed to shifts in the market's supply structure.

Production water-based polymer paints and varnishes in Hungary

In value, 2018-2021, K $ US

Hungary's production of water-based polymer paints and varnishes has increased for the second year in a row. In 2020, output reached 95 800 thousand US dollars, marking a 9.4% rise from 2019. Over the period from 2018 to 2020, production grew by 10.2%, which translates to an average annual increase of 3.3%.

Annual dynamics of production in Hungary in value, 2018-2021, K $ US

In kind, 2018-2021, t

In 2020, Hungary produced 86 908 tonnes of water-based polymer paints and varnishes, showing a slight decline of 3.7% compared to 2019. Between 2018 and 2020, production fell by 3.5%, averaging a 1.2% annual decrease. The peak was in 2019 at 90 294 tonnes, with the largest increase that year at 0.2%.

Annual dynamics of production in Hungary in kind, 2018-2021, t

Exports water-based polymer paints and varnishes from Hungary

Exports in kind, t

Exports of water-based polymer paints and varnishes from Hungary have declined for the second consecutive year. In 2021, exports totaled 9 783 tonnes, down 10.7% from 2020. From 2018 to 2021, exports decreased by 10.2%, averaging a 3.5% annual drop. The highest volume was recorded in 2019 at 11 447 tonnes, with the largest increase that year at 5.0%.

Annual dynamics of product's exports from Hungary in kind, 2018-2021, t

From 2018 to 2021, the three largest markets for Hungary's exports in kind were Slovakia, Romania, and Czechia, which together accounted for 77.4% of total flows.

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

World map of product's exports from Hungary in kind, 2018-2021

Exports in value, M $ US

Hungary's exports of water-based polymer paints and varnishes in value terms have increased for the second year in a row. In 2021, exports amounted to 14.8 million US dollars, up 2.3% from the previous year. However, between 2018 and 2021, exports decreased by 6.1%, averaging a 2.1% annual decline. The lowest value was in 2019 at 14.4 million US dollars, with the largest drop that year at 8.4%.

Annual dynamics of product's exports from Hungary in value, 2018-2021, M $ US

In the period 2018–2021, Slovakia, Czechia, and Romania were the main destinations for Hungary's exports in value terms, with shares of 24.1%, 23.1%, and 19.7% respectively, combining for 66.8% of total flows.

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

World map of product's exports from Hungary in value, 2018-2021

Imports water-based polymer paints and varnishes to Hungary

Imports in kind, t

In 2021, Hungary's imports of water-based polymer paints and varnishes in kind were recorded at 39 385 tonnes, reflecting a modest increase of 9.5% from 2020. Over the period 2018–2021, imports grew by 13.1%, with an average annual growth rate of 4.2%. The largest decline occurred in 2020 at 3.4%.

Annual dynamics of product's imports to Hungary in kind, 2018-2021, t

From 2018 to 2021, Germany, Poland, and Austria formed the main cluster of markets for Hungary's imports in kind, with shares of 31.1%, 29.8%, and 8.9% respectively, together representing 69.9% of total flows.

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

World map of product's imports to Hungary in kind, 2018-2021

Imports in value, M $ US

In 2021, Hungary's imports of water-based polymer paints and varnishes in value terms totaled 105.5 million US dollars, indicating a gain of 13.5% compared to 2020. Over the period 2018–2021, imports increased by 18.5%, with an average annual growth rate of 5.8%. The largest decline was in 2020 at 3.8%.

Annual dynamics of product's imports to Hungary in value, 2018-2021, M $ US

Throughout 2018–2021, Germany, Poland, and Czechia were the key partners for Hungary's imports in value terms, with shares of 46.6%, 13.5%, and 8.3% respectively, jointly accounting for 68.3% of total flows.

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

World map of product's imports to Hungary in value, 2018-2021