Croatia: Market for Industrial Monocarboxylic Fatty Acids 2024

Market Size for Industrial Monocarboxylic Fatty Acids in Croatia

The Croatian industrial monocarboxylic fatty acids market contracted sharply to $X in 2021, with a decrease of -95% against the previous year. Overall, consumption showed a sharp setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Industrial Monocarboxylic Fatty Acids in Croatia

In value terms, industrial monocarboxylic fatty acids production fell markedly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a sharp contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 72%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports from Croatia

In 2021, shipments abroad of industrial monocarboxylic fatty acids increased by 165% to X tons, rising for the third consecutive year after two years of decline. In general, exports saw a significant expansion. The growth pace was the most rapid in 2014 with an increase of 3,476% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, industrial monocarboxylic fatty acids exports surged to $X in 2021. Overall, exports recorded a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 1,393%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The Czech Republic (X tons), Hungary (X tons) and Germany (X tons) were the main destinations of industrial monocarboxylic fatty acids exports from Croatia, with a combined 77% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +175.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Hungary ($X) and Slovakia ($X) were the largest markets for industrial monocarboxylic fatty acids exported from Croatia worldwide, together accounting for 77% of total exports.

In terms of the main countries of destination, Hungary, with a CAGR of +203.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average industrial monocarboxylic fatty acids export price stood at $X per ton in 2021, declining by -9.4% against the previous year. Overall, the export price showed a abrupt downturn. The pace of growth appeared the most rapid in 2013 an increase of 43% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Germany ($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 the Czech Republic (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Monocarboxylic Fatty Acids

Imports into Croatia

In 2021, industrial monocarboxylic fatty acids imports into Croatia surged to X tons, rising by 48% compared with 2020. Overall, imports recorded a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 193% against the previous year. As a result, imports attained the peak of X tons; afterwards, it flattened through to 2021.

In value terms, industrial monocarboxylic fatty acids imports surged to $X in 2021. In general, imports recorded a significant expansion. The pace of growth was the most pronounced in 2017 when imports increased by 202%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest supplier of industrial monocarboxylic fatty acids to Croatia, with a 63% share of total imports. Moreover, industrial monocarboxylic fatty acids imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was held by the Netherlands (X tons), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia amounted to +113.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+15.6% per year) and the Netherlands (+14.7% per year).

In value terms, Indonesia ($X) constituted the largest supplier of industrial monocarboxylic fatty acids to Croatia, comprising 62% of total imports. The second position in the ranking was held by Malaysia ($X), with a 19% share of total imports. It was followed by the Netherlands, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value from Indonesia totaled +130.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+12.3% per year) and the Netherlands (+17.2% per year).

Import Prices by Country

The average industrial monocarboxylic fatty acids import price stood at $X per ton in 2021, surging by 52% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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