The market for paints and varnishes based on acrylic or vinyl polymers in an aqueous medium in Latvia exhibited modest growth and fluctuations between 2013 and 2023. This period saw variations in volume, with a notable recovery in 2022 and 2023 reaching 7.0951 million kilograms. Despite earlier declines, the market maintained relative stability with a negative compound annual growth rate (CAGR) over the last five years due to previous downturns pre-2022. The year-on-year growth improved by 4.14% in 2023, indicating a potential uplift in market demand.
- Positive growth trends were observed in 2022 and 2023.
- Earlier years faced declines and stagnations impacting long-term CAGR.
- The 2023 value demonstrates better performance compared to previous years.
Future market trends to watch for include shifts in consumer preferences towards eco-friendly products, potential economic impacts influencing disposable income, and regulatory changes affecting raw material costs and formulation requirements. Continuous innovation and sustainability efforts might drive further growth in the market.
| # | 22 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 788,300,000 | 2023 | -0.48% | +0.16% | View data |
| 2 | 2 United Kingdom | 588,050,000 | 2023 | +1.43% | +2.11% | View data |
| 3 | 3 Spain | 479,600,000 | 2023 | +1.71% | -0.12% | View data |
| 4 | 4 Italy | 477,680,000 | 2023 | -0.94% | -1.25% | View data |
| 5 | 5 France | 470,860,000 | 2023 | +1.14% | +0.56% | View data |
| 19 | 19 Croatia | 23,421,000 | 2023 | -1.23% | -1.16% | View data |
| 20 | 20 Estonia | 13,856,000 | 2023 | +4.97% | +5.72% | View data |
| 21 | 21 Latvia | 7,095,100 | 2023 | +4.14% | -0.21% | |
| 22 | 22 Slovenia | 6,172,800 | 2023 | +6.83% | +6.89% | View data |
