Croatia: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Croatia

In 2022, after four years of decline, there was significant growth in the Croatian carbon dioxide market, when its value increased by 91% to $X. Over the period under review, consumption showed prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Carbon Dioxide Production in Croatia

In value terms, carbon dioxide production rose markedly to $X in 2022 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -33.2% against 2019 indices. The growth pace was the most rapid in 2017 when the production volume increased by 36%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Carbon Dioxide Exports

Exports from Croatia

In 2022, approx. X tons of carbon dioxide were exported from Croatia; which is down by -90.2% on the year before. In general, exports showed a sharp contraction. The pace of growth was the most pronounced in 2015 with an increase of 54% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, carbon dioxide exports fell rapidly to $X in 2022. Overall, exports continue to indicate a significant contraction. The pace of growth was the most pronounced in 2015 when exports increased by 50% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X tons) was the main destination for carbon dioxide exports from Croatia, accounting for a 91% share of total exports. Moreover, carbon dioxide exports to Italy exceeded the volume sent to the second major destination, Slovenia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled +36.6%.

In value terms, Italy ($X) remains the key foreign market for carbon dioxide exports from Croatia, comprising 89% of total exports. The second position in the ranking was taken by Slovenia ($X), with a 5.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Italy amounted to +38.8%.

Export Prices by Country

In 2022, the average carbon dioxide export price amounted to $X per ton, with an increase of 17% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($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 (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Carbon Dioxide Imports

Imports into Croatia

In 2022, imports of carbon dioxide into Croatia surged to X tons, growing by 72% on the previous year's figure. Over the period under review, imports, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2016 when imports increased by 113% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, carbon dioxide imports skyrocketed to $X in 2022. In general, imports showed a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 106% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Slovenia (X tons) constituted the largest carbon dioxide supplier to Croatia, with a 63% share of total imports. Moreover, carbon dioxide imports from Slovenia exceeded the figures recorded by the second-largest supplier, Hungary (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Slovenia totaled +36.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (-13.3% per year) and Italy (+27.0% per year).

In value terms, Hungary ($X), Slovenia ($X) and Bosnia and Herzegovina ($X) appeared to be the largest carbon dioxide suppliers to Croatia, with a combined 95% share of total imports.

Slovenia, with a CAGR of +53.3%, 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

In 2022, the average carbon dioxide import price amounted to $X per ton, growing by 4.3% against the previous year. Overall, the import price saw a strong expansion. The most prominent rate of growth was recorded in 2021 an increase of 80% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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 Hungary ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+23.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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