In 2023, Germany led the European market for organic composite solvents and thinners not based on butyl acetate, with a market size of 229.93 million euros, marking a robust year-on-year growth of 7.53%. Romania followed with a value of 47.23 million euros, up by 3.54%. Conversely, the Czech Republic experienced a decline of 3.79%, shrinking to 30.382 million euros. Austria, Sweden, and Bulgaria also saw negative growth rates, at -2.12%, -3.15%, and -2.76%, respectively. Greece, Portugal, Finland, and Croatia displayed modest growths ranging from 0.13% to 1.7%. Over the past five years, the compound annual growth rate for these countries varied, reflecting diverse economic and industrial dynamics.
Looking ahead, significant trends in the European market include an increasing shift toward sustainable and eco-friendly solutions. Growth potential is seen in regions investing in green technologies within the coatings and inks sectors. Additionally, fluctuations in regulatory policies and raw material costs may impact market dynamics. As competitiveness intensifies, countries focusing on innovation and sustainability are poised for growth in this segment.
Top countries in Organic Composite Solvents and Thinners Not Based on Butyl Acetate Used in Conjunction with Coatings and Inks Market Size Value by Country
| # | 10 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 229,930,000 | 2023 | +7.54% | +7.53% | View data |
| 2 | 2 Romania | 47,230,000 | 2023 | +3.33% | +3.54% | View data |
| 3 | 3 Czech Republic | 30,382,000 | 2023 | +0.39% | -3.79% | View data |
| 4 | 4 Greece | 23,495,000 | 2023 | +3.1% | +1.7% | View data |
| 5 | 5 Portugal | 23,074,000 | 2023 | -1.79% | +0.41% | View data |
| 6 | 6 Finland | 15,409,000 | 2023 | +0.22% | +0.13% | View data |
| 7 | 7 Austria | 13,046,000 | 2023 | -1.89% | -2.12% | View data |
| 8 | 8 Sweden | 12,870,000 | 2023 | +2.59% | -3.15% | View data |
| 9 | 9 Bulgaria | 9,277,600 | 2023 | -2.45% | -2.76% | View data |
| 10 | 10 Croatia | 8,930,800 | 2023 | +1.33% | +0.57% | View data |
