Croatia: Alkyd Resins Market 2024

Alkyd Resins Market Size in Croatia

After two years of decline, the Croatian alkyd resins market increased by 10% to $X in 2022. Overall, consumption showed a slight decline. Alkyd resins consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Alkyd Resins Production in Croatia

In value terms, alkyd resins production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced descent. The pace of growth appeared the most rapid in 2017 when the production volume increased by 13% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Alkyd Resins Exports

Exports from Croatia

In 2022, overseas shipments of alkyd resins in primary forms decreased by -43.9% to X tons, falling for the fourth consecutive year after four years of growth. Over the period under review, exports showed a abrupt decrease. The growth pace was the most rapid in 2015 when exports increased by 6.8% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, alkyd resins exports dropped rapidly to $X in 2022. In general, exports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of 7.4% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Serbia (X tons), the Czech Republic (X tons) and Poland (X tons) were the main destinations of alkyd resins exports from Croatia, together accounting for 67% of total exports. Slovenia, the UK, France, Spain, Bosnia and Herzegovina and Hungary lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +7.3%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Serbia ($X), the Czech Republic ($X) and Poland ($X) appeared to be the largest markets for alkyd resins exported from Croatia worldwide, together comprising 66% of total exports. France, Slovenia, the UK, Spain, Bosnia and Herzegovina and Hungary lagged somewhat behind, together comprising a further 25%.

France, with a CAGR of +12.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average alkyd resins export price amounted to $X per ton, picking up by 27% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into Croatia

In 2022, the amount of alkyd resins in primary forms imported into Croatia dropped dramatically to X tons, waning by -15.9% against the previous year's figure. In general, imports recorded a abrupt setback. The pace of growth was the most pronounced in 2019 when imports increased by 71%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, alkyd resins imports reduced to $X in 2022. Over the period under review, imports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2019 when imports increased by 47% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Slovenia (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of alkyd resins imports to Croatia, together accounting for 92% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +43.7%), while purchases for the other leaders experienced a decline.

In value terms, Slovenia ($X) constituted the largest supplier of alkyd resins in primary forms to Croatia, comprising 55% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 25% share of total imports. It was followed by Italy, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Slovenia totaled -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+38.5% per year) and Italy (-5.9% per year).

Import Prices by Country

The average alkyd resins import price stood at $X per ton in 2022, growing by 8.9% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 17%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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