Croatia: Market for Calcium Ammonium Nitrate (CAN) 2024

Market Size for Calcium Ammonium Nitrate (CAN) in Croatia

The Croatian calcium ammonium nitrate (CAN) market skyrocketed to $X in 2021, growing by 20% against the previous year. Overall, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +54.6% against 2016 indices. Calcium ammonium nitrate (CAN) consumption peaked in 2021 and is likely to continue growth in the near future.

Production of Calcium Ammonium Nitrate (CAN) in Croatia

In value terms, calcium ammonium nitrate (CAN) production surged to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a slight descent. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Calcium Ammonium Nitrate (CAN)

Exports from Croatia

Calcium ammonium nitrate (CAN) exports from Croatia shrank to X tons in 2021, reducing by -10.2% compared with 2020. In general, exports recorded a pronounced downturn. The growth pace was the most rapid in 2016 with an increase of 26% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, calcium ammonium nitrate (CAN) exports expanded markedly to $X in 2021. Over the period under review, exports continue to indicate a deep contraction. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Hungary (X tons) was the main destination for calcium ammonium nitrate (CAN) exports from Croatia, with a 63% share of total exports. Moreover, calcium ammonium nitrate (CAN) exports to Hungary exceeded the volume sent to the second major destination, Slovenia (X tons), fourfold. Bosnia and Herzegovina (X tons) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hungary totaled +20.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (-0.9% per year) and Bosnia and Herzegovina (-3.4% per year).

In value terms, Hungary ($X), Slovenia ($X) and Bosnia and Herzegovina ($X) constituted the largest markets for calcium ammonium nitrate (CAN) exported from Croatia worldwide, together comprising 79% of total exports. These countries were followed by Bulgaria, Serbia and Austria, which together accounted for a further 18%.

In terms of the main countries of destination, Serbia, with a CAGR of +42.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average calcium ammonium nitrate (CAN) export price amounted to $X per ton, with an increase of 25% against the previous year. Over the period under review, the export price, however, showed a noticeable decrease. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+1.7%), while the prices for the other major destinations experienced a decline.

Imports of Calcium Ammonium Nitrate (CAN)

Imports into Croatia

After three years of growth, purchases abroad of calcium ammonium nitrate (CAN) decreased by -5.1% to X tons in 2021. In general, imports, however, posted a remarkable increase. The growth pace was the most rapid in 2016 when imports increased by 234%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, calcium ammonium nitrate (CAN) imports soared to $X in 2021. Over the period under review, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 185%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Hungary (X tons) constituted the largest calcium ammonium nitrate (CAN) supplier to Croatia, with a 60% share of total imports. Moreover, calcium ammonium nitrate (CAN) imports from Hungary exceeded the figures recorded by the second-largest supplier, Romania (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume from Hungary stood at +33.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+12.9% per year) and Italy (+2.7% per year).

In value terms, Hungary ($X) constituted the largest supplier of calcium ammonium nitrate (CAN) to Croatia, comprising 60% of total imports. The second position in the ranking was held by Romania ($X), with a 21% share of total imports. It was followed by Slovakia, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Hungary totaled +30.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+13.0% per year) and Slovakia (+69.7% per year).

Import Prices by Country

In 2021, the average calcium ammonium nitrate (CAN) import price amounted to $X per ton, rising by 62% against the previous year. Over the period under review, the import price, however, saw a mild slump. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Romania ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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