Water-based polymer paints and varnishes market in Spain

Earlier Report Observations

From 2018 to 2020, the market volume for water-based polymer paints and varnishes in Spain declined from 483.8 thousand tons to 456.6 thousand tons. The initial dip in 2019 was followed by a more pronounced contraction in 2020, primarily driven by the COVID-19 pandemic, which suppressed economic activity and reduced demand across the coatings sector.

Post-pandemic, the market recovered to 473.6 thousand tons in 2022, supported by robust demand from renovation and construction activities, as well as a rebound in the automotive industry. However, volume dropped sharply to 407.2 thousand tons in 2023 before surging to 480.4 thousand tons in 2024. The 2024 growth coincided with the implementation of stricter EU Ecolabel criteria, which prompted industry innovation and the development of more sustainable products to meet new environmental standards.

Throughout the period, regulatory measures shaped the market landscape, including the enforcement of VOC emission limits under Real Decreto 227/2006 and the introduction of updated quality standards such as UNE-EN ISO 28199-3:2022, fostering greater product standardization and improved environmental performance.

Production water-based polymer paints and varnishes in Spain

In value, 2017-2020, M $ US

Spain's production of water-based polymer paints and varnishes declined for the second consecutive year. In 2020, output was valued at 774.3 million US dollars, down 5.1% from 2019. Production peaked in 2018 at 866.2 million US dollars, representing a 4.4% increase from the previous year. The largest decline occurred in 2019, with a 5.8% drop. Overall, between 2017 and 2020, production decreased by 6.6%, averaging an annual decline of 2.3%.

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

In kind, 2017-2020, K t

Water-based polymer paints and varnishes production in Spain fell for the third consecutive year. In 2020, Spain produced 486.9 thousand tonnes, a moderate decrease of 4.6% compared to 2019. From 2017 to 2020, production declined by 9.7%, equivalent to an average annual rate of 3.3%.

Annual dynamics of production in Spain in kind, 2017-2020, K t

Exports water-based polymer paints and varnishes from Spain

Exports in kind, K t

Spain's exports of water-based polymer paints and varnishes declined for the second consecutive year. In 2020, exports totaled 79.8 thousand tonnes, down 11.5% year-over-year. Exports peaked in 2018 at 102.4 thousand tonnes, marking a 1.5% increase from 2017. The largest decline was in 2019, with an 11.9% drop. Over the period 2017-2020, exports decreased by 20.9%, averaging an annual decline of 7.5%.

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

From 2017 to 2020, Spain's exports of water-based polymer paints and varnishes were distributed across a broad range of buyers. France accounted for 18.1% of exports in volume, Germany for 11.7%, and Portugal for 11.1%. Together, these three countries represented 40.8% of total exports, with many other nations holding smaller but significant shares.

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

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

Exports in value, M $ US

Spain's export value of water-based polymer paints and varnishes declined for the second consecutive year. In 2020, exports amounted to 188.7 million US dollars, a 12.8% decrease from 2019. The peak was in 2018 at 256.5 million US dollars, reflecting a 4.1% increase from 2017. The largest decline occurred in 2019, with a 15.6% drop. Between 2017 and 2020, exports fell by 23.4%, with an average annual decline of 8.5%.

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

From 2017 to 2020, Spain's exports of water-based polymer paints and varnishes in value terms were not heavily concentrated in a few key markets. France contributed 17.0% of export value, Portugal 13.6%, and Germany 9.8%. Combined, these three countries accounted for 40.4% of total export flows.

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

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

Imports water-based polymer paints and varnishes to Spain

Imports in kind, K t

Spain's imports of water-based polymer paints and varnishes in 2020 were nearly unchanged from 2019. Imports peaked in 2018 at 52.5 thousand tonnes, a 35.6% increase from 2017. The largest decline was in 2019, with a 5.8% drop. Over the period 2017-2020, imports increased by 27.8%, averaging an annual growth rate of 8.5%.

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

From 2017 to 2020, France, Germany, and the United Kingdom were the main sources for Spain's imports of water-based polymer paints and varnishes in volume. France accounted for 22.3% of imports, Germany for 20.4%, and the United Kingdom for 20.1%. Together, these three countries represented 62.7% of total import flows.

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

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

Imports in value, M $ US

Spain's imports of water-based polymer paints and varnishes declined for the second consecutive year. In 2020, imports totaled 153.2 million US dollars, down 11.2% from 2019. The peak was in 2018 at 181.5 million US dollars, with a 7.1% increase from 2017. Between 2017 and 2020, imports decreased by 9.6%, averaging an annual decline of 3.3%.

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

From 2017 to 2020, France, Germany, and Italy were the largest suppliers of water-based polymer paints and varnishes to Spain in value terms. France accounted for 26.8% of import value, Germany for 23.5%, and Italy for 14.6%. Combined, these three countries formed 64.9% of total imports.

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

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