The market size volume for paints and varnishes based on polyesters, acrylic, or vinyl polymers in a non-aqueous medium in Latvia showed fluctuation over the years. In 2023, the volume stood at 5.5067 million kilograms, representing a year-on-year increase of 3.08%. Over the last decade, significant growth was observed in 2017 with a 36.39% jump, yet recent years display moderate changes with a CAGR of 0.63% over the past five years. The substantial dip in 2019 and 2020 was followed by a recovery, emphasizing resilience in the market.
Looking ahead, key trends to watch for include:
- Technological advancements improving non-aqueous paint and varnish quality.
- Eco-friendly regulations potentially impacting product formulations.
- Steady demand from construction and automotive sectors supporting growth.
- Potential economic fluctuations affecting both demand and supply chains.
| # | 20 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Spain | 269,920,000 | 2023 | -0.22% | -0.62% | View data |
| 2 | 2 France | 262,290,000 | 2023 | +0.047% | -2.23% | View data |
| 3 | 3 Germany | 254,500,000 | 2023 | +1.61% | -3.59% | View data |
| 4 | 4 United Kingdom | 200,580,000 | 2023 | +0.65% | +0.84% | View data |
| 5 | 5 Poland | 177,520,000 | 2023 | +1.59% | +1.8% | View data |
| 18 | 18 Lithuania | 12,839,000 | 2023 | +1.78% | +4.65% | View data |
| 19 | 19 Estonia | 9,684,200 | 2023 | +0.81% | +1.15% | View data |
| 20 | 20 Latvia | 5,506,700 | 2023 | +3.08% | +0.63% | |
