Water-based polymer paints and varnishes market in Ireland

Earlier Report Observations

The market for water-based polymer paints and varnishes in Ireland showed strong growth in value from 2018 to 2022, rising from $52.4 million to $73.7 million. This increase was particularly notable between 2018 and 2020, when the market value expanded by nearly 29%, reaching $67.6 million. Growth continued in the following years, albeit at a more moderate pace.

In physical terms, market volume grew from 23.3 thousand tons in 2018 to a peak of 30.5 thousand tons in 2020, before declining to 26.3 thousand tons in 2021. This contraction in volume occurred alongside a steady rise in market value, indicating changes in product pricing or a shift toward higher-value formulations within the sector.

A key regulatory development occurred in 2024 when Ireland adopted amended EU regulations for paints, varnishes, and vehicle finishing products, enforcing stricter labeling and volatile organic compound (VOC) emission controls from August 2nd. This change reflects the broader European trend toward environmentally compliant, water-based paint products.

Production water-based polymer paints and varnishes in Ireland

In value, 2017-2020, K $ US

Following two years of growth, Ireland's production of water-based polymer paints and varnishes declined in value terms. In 2020, output was valued at 37 874 K $ US, marking a 3.9% decrease from the previous year. Over the 2017-2020 period, production increased by 21.3%, with a compound annual growth rate of 6.7%. The peak value was recorded in 2019 at 39 415 K $ US, while the largest annual increase occurred in 2018 at 15.7%.

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

In kind, 2017-2020, t

After two consecutive years of growth, Ireland's production volume of water-based polymer paints and varnishes declined. In 2020, 14 089 tonnes were produced, representing a 5.8% decrease compared to 2019. Between 2017 and 2020, production increased by 20.3%, equating to an annualized growth rate of 6.3%. The highest volume was recorded in 2019 at 14 960 tonnes, which also saw the largest annual increase of 15.0%.

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

Exports water-based polymer paints and varnishes from Ireland

Exports in kind, t

Ireland's exports of water-based polymer paints and varnishes declined for the second consecutive year. In 2020, the country exported 9 264 tonnes, a slight decrease of 1.8% from the previous year. Over the 2017-2020 period, exports decreased by 19%, with an annualized decline rate of 6.8%. The peak export volume was recorded in 2018 at 14 237 tonnes. The largest annual decline occurred in 2019 at 33.8%, while the largest increase was in 2018 at 24.5%.

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

From 2017 to 2020, the United Kingdom was Ireland's primary export partner for water-based polymer paints and varnishes in volume terms, accounting for 94.6% of total exports.

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

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

Exports in value, K $ US

Ireland's export value of water-based polymer paints and varnishes declined for the second year in a row. In 2020, exports totaled 17 716 K $ US, down 2.4% from the previous year. Between 2017 and 2020, exports decreased by 17.8%, with an annualized decline rate of 6.3%. The highest value was recorded in 2018 at 28 205 K $ US. The largest annual decline occurred in 2019 at 35.6%, while the largest increase was in 2018 at 30.9%.

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

Throughout 2017-2020, the United Kingdom consistently accounted for 90.0% of Ireland's total export value for water-based polymer paints and varnishes, indicating a high concentration on this market, with the remaining 10.0% distributed among other countries.

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

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

Imports water-based polymer paints and varnishes to Ireland

Imports in kind, t

Ireland's imports of water-based polymer paints and varnishes increased in 2020, totaling 25 633 tonnes, which represents a 19.8% rise from the previous year. Over the 2017-2020 period, imports grew by 7%, with a compound annual growth rate of 2.3%. The lowest import volume was recorded in 2019 at 21 395 tonnes, which also saw the largest annual decline of 12.7%.

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

From 2017 to 2020, the United Kingdom was the main source of Ireland's imports of water-based polymer paints and varnishes in volume terms, accounting for 83.4% of total imports, while other countries contributed smaller shares.

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

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

Imports in value, K $ US

Ireland imported 47 418 K $ US worth of water-based polymer paints and varnishes in 2020, an 18.6% increase from the previous year. Over the 2017-2020 period, imports rose by 8.8%, with a compound annual growth rate of 2.8%. The lowest import value was recorded in 2019 at 39 965 K $ US, which also experienced the largest annual decline of 10.2%.

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

During 2017-2020, the United Kingdom remained Ireland's primary import market for water-based polymer paints and varnishes in value terms, holding a 73.8% share of total imports, with the remainder fragmented across various other destinations.

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

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