Croatia: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Croatia

In 2021, after two years of decline, there was significant growth in the Croatian ethyl acetate market, when its value increased by 69% to $X. Over the period under review, consumption posted a prominent expansion. Over the period under review, the market attained the peak level at $X in 2018; afterwards, it flattened through to 2021.

Ethyl Acetate Production in Croatia

In value terms, ethyl acetate production soared to $X in 2021 estimated in export price. Overall, production recorded a significant expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Ethyl Acetate Exports

Exports from Croatia

In 2021, the amount of ethyl acetate exported from Croatia declined sharply to X tons, falling by -30.8% compared with the year before. In general, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2015 when exports increased by 12,960% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, ethyl acetate exports soared to $X in 2021. Overall, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 4,594% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Slovenia (X tons) was the main destination for ethyl acetate exports from Croatia, accounting for a 93% share of total exports. Moreover, ethyl acetate exports to Slovenia exceeded the volume sent to the second major destination, Hungary (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Slovenia amounted to +117.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+273.2% per year) and Serbia (-33.7% per year).

In value terms, Slovenia ($X) remains the key foreign market for ethyl acetate exports from Croatia, comprising 89% of total exports. The second position in the ranking was taken by Hungary ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Slovenia totaled +146.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+224.2% per year) and Serbia (-35.3% per year).

Export Prices by Country

The average ethyl acetate export price stood at $X per ton in 2021, rising by 80% against the previous year. Over the period under review, the export price, however, continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 88%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Serbia ($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 Slovenia (+13.3%), while the prices for the other major destinations experienced a decline.

Ethyl Acetate Imports

Imports into Croatia

In 2021, purchases abroad of ethyl acetate was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 28% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, ethyl acetate imports soared to $X in 2021. Over the period under review, imports showed a buoyant increase. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Ukraine (X tons), Slovenia (X tons) and Italy (X tons) were the main suppliers of ethyl acetate imports to Croatia, with a combined 81% share of total imports. Turkey, Estonia, Switzerland and the Netherlands lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +100.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), Slovenia ($X) and Italy ($X) were the largest ethyl acetate suppliers to Croatia, together comprising 81% of total imports. Turkey, Estonia, Switzerland and the Netherlands lagged somewhat behind, together accounting for a further 16%.

Turkey, with a CAGR of +104.5%, 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 ethyl acetate import price stood at $X per ton in 2021, rising by 73% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Slovenia ($X per ton) and Estonia ($X per ton), while the price for Switzerland ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Estonia (+38.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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