Water-based polymer paints and varnishes market in Lithuania

Earlier Report Observations

Between 2018 and 2019, the physical volume of the water-based polymer paints and varnishes market in Lithuania expanded sharply from 20 361 t to 28 305 t. This surge coincided with the introduction of innovative products, such as paints featuring lotus-leaf surface properties that repel water and dust, creating a new segment that likely stimulated demand. During the same period, the market value in monetary terms saw a slight decrease to 37 795 thousand US dollars, suggesting possible shifts in product mix or pricing.

Market volume experienced volatility from 2020 to 2022, declining to 21 529 t in 2020 before partially recovering. In contrast, the market's monetary value demonstrated resilient growth, rising from 39 254 thousand US dollars in 2020 to 43 876 thousand US dollars in 2022. This divergence indicates a strengthening trend towards higher-value products within the market, even as total consumption fluctuated.

By 2023 and 2024, the physical market volume settled at a lower level of around 17 300 t, representing a significant contraction from earlier peaks. However, the market value continued its upward trajectory, reaching 46 829 thousand US dollars in 2024. This consistent growth in value against falling volume underscores a fundamental shift in the market composition towards more expensive product offerings.

Production water-based polymer paints and varnishes in Lithuania

In value, 2018-2021, K $ US

Lithuania's production of water-based polymer paints and varnishes has grown for the third year in a row. In 2021, the output value reached 13,149 thousand US dollars, showing a solid 12.8% increase compared to 2020. From 2018 to 2021, production rose by 32.5%, with an average annual growth rate of 9.8%.

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

In kind, 2018-2021, t

Lithuania's production volume of water-based polymer paints and varnishes has increased for the third consecutive year. In 2021, the country produced 7,861 tonnes, reflecting a moderate 8.0% rise over the previous year. Between 2018 and 2021, production grew by 26.1%, equating to an annualized rate of 8.0%.

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

Exports water-based polymer paints and varnishes from Lithuania

Exports in kind, t

Lithuania's exports of water-based polymer paints and varnishes have risen for the third year in a row. In 2021, the country shipped 4,512 tonnes abroad, up by 12.8% compared to the previous year. From 2018 to 2021, exports increased by 18.6%, with an average annual growth rate of 5.8%.

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

From 2018 to 2021, Russia, Latvia, and Belgium were the main markets for Lithuania's exports in volume terms. Russia accounted for 37.8% of exports, Latvia for 18.8%, and Belgium for 17.8%, together making up 74.4% of total export flows.

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

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

Exports in value, K $ US

In 2021, Lithuania's exports of water-based polymer paints and varnishes in value terms amounted to 15,438 thousand US dollars, a 27.4% increase from the previous year. Between 2018 and 2021, exports grew by 27.2%, with an annualized rate of 8.3%. The lowest value was recorded in 2020 at 12,115 thousand US dollars, which also saw the largest decline of 4.9%.

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

From 2018 to 2021, Russia, Belarus, and Latvia were the key markets for Lithuania's exports in value terms, collectively accounting for 74.9% of total export flows.

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

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

Imports water-based polymer paints and varnishes to Lithuania

Imports in kind, t

Lithuania's imports of water-based polymer paints and varnishes in volume terms reached 20,007 tonnes in 2021, up by 9.6% from the previous year. Over the period 2018 to 2021, imports increased by 11.6%, with an average annual growth rate of 3.7%. The highest volume was recorded in 2019 at 25,380 tonnes, which also saw the largest increase of 41.5%. In 2020, imports fell by 28.1%, marking the largest decline.

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

From 2018 to 2021, Poland, Sweden, and Germany were the primary sources for Lithuania's imports in volume terms. Poland contributed 33.4% of imports, Sweden 18.8%, and Germany 12.5%, together representing 64.7% of total import flows.

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

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

Imports in value, K $ US

After two years of decline, Lithuania's imports of water-based polymer paints and varnishes in value terms rebounded in 2021, reaching 47,032 thousand US dollars, an 18.4% increase compared to 2020. From 2018 to 2021, imports rose by 14.8%, with an average annual growth rate of 4.7%. The lowest value was recorded in 2020 at 39,716 thousand US dollars, while the largest decline occurred in 2019 with a 2.0% drop.

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

From 2018 to 2021, the market base for Lithuania's imports in value terms was diverse. Germany accounted for 19.0% of imports, Estonia for 15.5%, and Sweden for 15.4%, together making up 49.9% of total flows. The remaining 50.1% was distributed among numerous other countries.

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

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