Croatia: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in Croatia

In 2022, the Croatian monocarboxylic acid market decreased by -24.7% to $X, falling for the third consecutive year after two years of growth. In general, consumption saw a pronounced contraction. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Monocarboxylic Acid Exports

Exports from Croatia

In 2022, overseas shipments of acrylic acid and its salts and other monocarboxylic acid decreased by -3.1% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed a temperate increase. The growth pace was the most rapid in 2016 with an increase of 251% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, monocarboxylic acid exports reached $X in 2022. In general, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2016 when exports increased by 134% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Slovenia (X tons) and Bosnia and Herzegovina (X tons) were the main destinations of monocarboxylic acid exports from Croatia.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of +77.0%).

In value terms, the largest markets for monocarboxylic acid exported from Croatia were Slovenia ($X) and Bosnia and Herzegovina ($X).

In terms of the main countries of destination, Slovenia, with a CAGR of +69.0%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average monocarboxylic acid export price stood at $X per ton in 2022, picking up by 15% against the previous year. Overall, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monocarboxylic acid export price increased by +11.7% against 2018 indices. The growth pace was the most rapid in 2017 an increase of 37% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Slovenia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+21.1%), while the prices for the other major destinations experienced mixed trend patterns.

Monocarboxylic Acid Imports

Imports into Croatia

In 2022, supplies from abroad of acrylic acid and its salts and other monocarboxylic acid decreased by -26.2% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports recorded a noticeable decrease. The pace of growth appeared the most rapid in 2014 when imports increased by 168%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, monocarboxylic acid imports shrank markedly to $X in 2022. Overall, imports recorded a slight decrease. The growth pace was the most rapid in 2016 when imports increased by 120% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X tons), Belgium (X tons) and Poland (X tons) were the main suppliers of monocarboxylic acid imports to Croatia, together accounting for 55% of total imports. China, Slovenia, Russia, Ireland, the Netherlands and the Czech Republic lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Slovenia (with a CAGR of +28.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of acrylic acid and its salts and other monocarboxylic acid to Croatia, comprising 35% of total imports. The second position in the ranking was held by Poland ($X), with a 12% share of total imports. It was followed by Belgium, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+27.4% per year) and Belgium (+0.9% per year).

Import Prices by Country

The average monocarboxylic acid import price stood at $X per ton in 2022, increasing by 14% against the previous year. In general, the import price posted measured growth. The pace of growth was the most pronounced in 2016 an increase of 76%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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