The market for paints and varnishes based on acrylic or vinyl polymers in an aqueous medium in Latvia experienced fluctuations over the past decade. By 2023, the market size reached 7.8018 million kilograms. The period served a mix of growth and contraction, with notable peaks in 2018 and 2021. The average growth rate from 2019 to 2023 was 3.49% annually, highlighting a moderate recovery post-2020 dip. Recent years, specifically 2022 and 2023, showed steady growth with increases of 8.29% and 2.74%, respectively.
Future trends to watch for include the potential impact of sustainable product demands, changes in construction and renovation activities, and technological advancements in paint production. These factors might influence market dynamics, opening opportunities for eco-friendly product lines and innovations that cater to evolving consumer preferences.
| # | 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 |
| 19 | 19 Ireland | 21,624,000 | 2023 | -5.19% | +1.19% | View data |
| 20 | 20 Estonia | 11,770,000 | 2023 | +1.66% | +1.46% | View data |
| 21 | 21 Latvia | 7,801,800 | 2023 | +2.74% | +3.49% | |
