Croatia: Amino Resin Market 2024

Amino Resin Market Size in Croatia

In 2022, after two years of growth, there was significant decline in the Croatian amino resin market, when its value decreased by -8.1% to $X. Overall, consumption, however, continues to indicate prominent growth. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Amino Resin Exports

Exports from Croatia

In 2022, approx. X tons of amino resins were exported from Croatia; picking up by 20% compared with 2021 figures. Over the period under review, exports recorded a prominent increase. The growth pace was the most rapid in 2013 with an increase of 650%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, amino resin exports surged to $X in 2022. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 310% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for amino resin exports from Croatia, with a 86% share of total exports. Moreover, amino resin exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, North Macedonia (X tons), more than tenfold. The third position in this ranking was taken by Slovenia (X tons), with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bosnia and Herzegovina totaled +24.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (-5.8% per year) and Slovenia (-14.0% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for amino resins exports from Croatia, comprising 83% of total exports. The second position in the ranking was taken by North Macedonia ($X), with an 8% share of total exports. It was followed by Serbia, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bosnia and Herzegovina amounted to +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (-5.7% per year) and Serbia (-7.3% per year).

Export Prices by Country

In 2022, the average amino resin export price amounted to $X per ton, rising by 3.3% against the previous year. Overall, the export price, however, saw a pronounced curtailment. The pace of growth appeared the most rapid in 2014 an increase of 70% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 Serbia (+3.4%), while the prices for the other major destinations experienced mixed trend patterns.

Amino Resin Imports

Imports into Croatia

In 2022, after two years of growth, there was significant decline in purchases abroad of amino resins, when their volume decreased by -12.6% to X tons. Overall, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 33% against the previous year. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, amino resin imports contracted modestly to $X in 2022. Over the period under review, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2021 with an increase of 68%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

Belgium (X tons), the Netherlands (X tons) and Italy (X tons) were the main suppliers of amino resin imports to Croatia, together comprising 79% of total imports. Turkey, Germany, Greece and Hungary lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +81.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest amino resin suppliers to Croatia were Belgium ($X), Italy ($X) and the Netherlands ($X), together comprising 78% of total imports. Turkey, Germany, Greece and Hungary lagged somewhat behind, together accounting for a further 20%.

Turkey, with a CAGR of +55.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average amino resin import price stood at $X per ton in 2022, increasing by 9% against the previous year. Over the period under review, the import price showed a slight increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by 50% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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