Water-based polymer paints and varnishes market in Slovakia

Earlier Report Observations

Between 2018 and 2021, the Slovakian market for water-based polymer paints and varnishes contracted significantly in volume, falling from 97 253 t to 40 771 t. This decline was mirrored by a steep drop in domestic production, which halved over the same period. The trend aligned with broader industry shifts, including the phased removal of lead-based paints and the growing dominance of durable, cost-effective plastic-based coatings, which set the competitive landscape.

Despite the falling market volume, the market's value in US dollars showed resilience, particularly in 2021 when it increased to 94.3 million after a previous decline. This recovery was driven by manufacturers reformulating their products to replace harmful substances with safer alternatives in compliance with European Union regulations. This shift towards higher-value, environmentally compliant paints increased the average product cost, supporting the market's monetary value even as consumption in tonnes decreased.

The market structure evolved throughout the period, supported by the sustained activity of key domestic producer Chemolak a.s. and the expansion of online sales platforms like efarby.sk, which broadened product availability and offered expert advice to consumers. Concurrently, rising consumer preference for ecological paints based on natural oils spurred the development of new product segments, gradually reshaping the market's offering towards more sustainable options.

Production water-based polymer paints and varnishes in Slovakia

In value, 2017-2020, K $ US

After two years of decline, production of water-based polymer paints and varnishes in Slovakia showed signs of recovery. In 2020, output reached 5 013 thousand US dollars, marking a modest year-over-year increase of 1.0%. However, looking at the broader period from 2017 to 2020, production fell sharply by 66.8%, which translates to an average annual decline of 30.8%. The lowest point was in 2019, with production valued at 4 965 thousand US dollars, while the steepest drop occurred in 2018, at 55.8%.

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

In kind, 2017-2020, t

Slovakia's production volume of water-based polymer paints and varnishes continued to decline for the third year in a row. In 2020, output stood at 3 960 tonnes, representing an 11.8% decrease compared to the previous year. Over the period from 2017 to 2020, production fell by 54.6%, averaging an annual decline of 23.1%.

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

Exports water-based polymer paints and varnishes from Slovakia

Exports in kind, t

Following two years of contraction, Slovakia's export volumes of water-based polymer paints and varnishes rebounded. In 2020, exports reached 3 340 tonnes, showing an 11.0% increase from 2019. Despite this uptick, exports declined by 34.4% overall between 2017 and 2020, with an average annual decrease of 13.1%. The lowest export volume was recorded in 2019 at 3 008 tonnes, while the largest decline occurred in 2018, at 27.0%.

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

From 2017 to 2020, the main destinations for Slovakia's exports of water-based polymer paints and varnishes in volume terms were Czechia, accounting for 62.3% of exports, Ukraine with 14.1%, and Turkey at 6.3%. Together, these three markets made up 82.7% of total export flows.

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

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

Exports in value, M $ US

Slovakia's exports of water-based polymer paints and varnishes in value terms declined for the third consecutive year. In 2020, exports totaled 9.7 million US dollars, reflecting a slight year-over-year decrease of 1.9%. Over the 2017-2020 period, exports fell by 27.4%, with a compound annual growth rate of -10.1%.

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

Between 2017 and 2020, Czechia remained the dominant buyer of water-based polymer paints and varnishes from Slovakia in value terms, capturing 82.2% of total exports. The remaining share was distributed among various other countries.

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

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

Imports water-based polymer paints and varnishes to Slovakia

Imports in kind, t

In 2020, Slovakia's imports of water-based polymer paints and varnishes in volume terms rose to 52 390 tonnes, up 9.0% from 2019. However, over the 2017-2020 period, imports decreased by 22.6%, averaging an annual decline of 8.2%. The lowest import volume was in 2019 at 48 065 tonnes, while the peak occurred in 2018 at 95 960 tonnes. The largest decline was in 2019 at 49.9%, and the biggest increase was in 2018 at 41.8%.

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

From 2017 to 2020, the leading sources of Slovakia's imports of water-based polymer paints and varnishes in volume terms were Germany, with 41.9% of imports, Czechia at 26.6%, and Belgium contributing 6.7%. Combined, these three countries represented 75.2% of total import flows.

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

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

Imports in value, M $ US

Slovakia's imports of water-based polymer paints and varnishes in value terms declined for the second year in a row. In 2020, imports amounted to 91.3 million US dollars, down 9.7% year-over-year. Over the 2017-2020 period, imports fell by 6.8%, with a compound annual growth rate of -2.3%. The highest import value was recorded in 2018 at 109.0 million US dollars, which also saw the largest increase of 11.3%.

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

Between 2017 and 2020, Germany, Czechia, and Poland consistently led Slovakia's import structure for water-based polymer paints and varnishes in value terms. Germany accounted for 30.6% of imports, Czechia for 27.0%, and Poland for 7.9%. Together, these three countries made up 65.5% of total import flows.

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

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