The market size for paints and varnishes based on acrylic or vinyl polymers in an aqueous medium in Estonia experienced fluctuations over the past decade. In 2023, the market stood at 11.77 million kilograms, marking a modest 1.66% year-on-year increase. Overall, the sector showed a compound annual growth rate (CAGR) of 1.46% over the last five years.
Key observations:
- A notable drop occurred in 2020 with a -14.68% shrinkage affected by external factors yet rebounded sharply in 2021 with a 16.51% increase.
- The market has shown resilience, regaining momentum since the pandemic-induced downturn in 2020.
Future trends to watch for include the increasing demand for sustainable and environmentally friendly product formulations as consumers and regulatory bodies push for greener alternatives. Technological advancements and innovations in polymer dispersion techniques are also expected to influence market dynamics prominently.
| # | 21 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 568,210,000 | 2023 | -1.68% | -1.34% | View data |
| 2 | 2 United Kingdom | 536,890,000 | 2023 | +1% | +1.59% | View data |
| 3 | 3 France | 469,240,000 | 2023 | -0.19% | +0.5% | View data |
| 4 | 4 Spain | 316,180,000 | 2023 | -0.88% | -0.21% | View data |
| 5 | 5 Italy | 288,300,000 | 2023 | -3.38% | -4.42% | View data |
| 18 | 18 Lithuania | 23,393,000 | 2023 | +4.91% | +4.28% | View data |
| 19 | 19 Ireland | 21,624,000 | 2023 | -5.19% | +1.19% | View data |
| 20 | 20 Estonia | 11,770,000 | 2023 | +1.66% | +1.46% | |
| 21 | 21 Latvia | 7,801,800 | 2023 | +2.74% | +3.49% | View data |
