Croatia: Stone Polishing Machine Market 2024

Stone Polishing Machine Market Size in Croatia

The Croatian stone polishing machine market dropped rapidly to $X in 2022, reducing by -70.2% against the previous year. In general, consumption saw a sharp descent. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Stone Polishing Machine Production in Croatia

In value terms, stone polishing machine production soared to $X in 2022 estimated in export price. Overall, production, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 127%. Over the period under review, production reached the peak level in 2022 and is expected to retain growth in the near future.

Stone Polishing Machine Exports

Exports from Croatia

After two years of growth, shipments abroad of grinding or polishing machines for working stone, ceramics and concrete decreased by -79.7% to X units in 2022. Overall, exports saw a perceptible reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 746% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, stone polishing machine exports fell sharply to $X in 2022. Over the period under review, exports, however, recorded a mild increase. The growth pace was the most rapid in 2015 when exports increased by 817%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Serbia (X units) was the main destination for stone polishing machine exports from Croatia, with a 73% share of total exports. Moreover, stone polishing machine exports to Serbia exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X units), sixfold. Hungary (X units) ranked third in terms of total exports with a 7% share.

From 2012 to 2022, the average annual growth rate of volume to Serbia amounted to +41.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (-3.1% per year) and Hungary (+19.6% per year).

In value terms, Serbia ($X), Hungary ($X) and Poland ($X) constituted the largest markets for stone polishing machine exported from Croatia worldwide, together accounting for 87% of total exports.

Hungary, with a CAGR of +53.4%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average stone polishing machine export price amounted to $X per unit, rising by 63% against the previous year. In general, the export price posted strong growth. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Serbia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+38.7%), while the prices for the other major destinations experienced more modest paces of growth.

Stone Polishing Machine Imports

Imports into Croatia

In 2022, after five years of growth, there was decline in overseas purchases of grinding or polishing machines for working stone, ceramics and concrete, when their volume decreased by -3.2% to X units. Overall, imports, however, recorded a significant increase. The growth pace was the most rapid in 2021 with an increase of 160% against the previous year. As a result, imports reached the peak of X units, and then shrank in the following year.

In value terms, stone polishing machine imports reached $X in 2022. Over the period under review, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +172.7% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 74% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Italy (X units) constituted the largest stone polishing machine supplier to Croatia, accounting for a 35% share of total imports. Moreover, stone polishing machine imports from Italy exceeded the figures recorded by the second-largest supplier, France (X units), threefold. Germany (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Italy stood at +39.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+42.3% per year) and Germany (+41.9% per year).

In value terms, Italy ($X), Germany ($X) and France ($X) were the largest stone polishing machine suppliers to Croatia, with a combined 58% share of total imports. Poland, Slovenia, Switzerland, Austria, China and the UK lagged somewhat behind, together comprising a further 30%.

Among the main suppliers, the UK, with a CAGR of +84.7%, saw the highest growth rate of the value of imports, 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 stone polishing machine import price amounted to $X per unit, with an increase of 4.7% against the previous year. Over the period under review, the import price, however, showed a sharp contraction. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+28.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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