Croatia: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Croatia

The Croatian iron oxide pigment market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Iron Oxide Pigment Production in Croatia

In value terms, iron oxide pigment production rose remarkably to $X in 2021 estimated in export price. In general, production, however, showed a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of 196%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Iron Oxide Pigment Exports

Exports from Croatia

After two years of growth, shipments abroad of iron oxide pigments decreased by -27.6% to X tons in 2021. Over the period under review, exports, however, posted a pronounced expansion. The pace of growth was the most pronounced in 2020 when exports increased by 72% against the previous year. As a result, the exports reached the peak of X tons, and then dropped rapidly in the following year.

In value terms, iron oxide pigment exports totaled $X in 2021. Overall, exports, however, recorded a tangible expansion. The pace of growth was the most pronounced in 2013 when exports increased by 62%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Serbia (X tons), Bosnia and Herzegovina (X tons) and Poland (X tons) were the main destinations of iron oxide pigment exports from Croatia, together comprising 99% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +16.0%), while the other leaders experienced mixed trend patterns.

In value terms, Serbia ($X), Bosnia and Herzegovina ($X) and Poland ($X) were the largest markets for iron oxide pigment exported from Croatia worldwide, with a combined 89% share of total exports.

Serbia, with a CAGR of +21.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average iron oxide pigment export price amounted to $X per ton, surging by 40% against the previous year. Overall, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the average export price increased by 42%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Poland ($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 Serbia (+4.4%), while the prices for the other major destinations experienced a decline.

Iron Oxide Pigment Imports

Imports into Croatia

In 2021, approx. X tons of iron oxide pigments were imported into Croatia; picking up by 45% on 2020 figures. Over the period under review, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 95% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, iron oxide pigment imports soared to $X in 2021. Overall, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 67% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Austria (X tons) were the main suppliers of iron oxide pigment imports to Croatia, with a combined 58% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +80.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of iron oxide pigments to Croatia, comprising 39% of total imports. The second position in the ranking was held by Italy ($X), with a 14% share of total imports. It was followed by Austria, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+22.4% per year) and Austria (+78.8% per year).

Import Prices by Country

The average iron oxide pigment import price stood at $X per ton in 2021, with an increase of 8.1% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 142%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; afterwards, it flattened through to 2021.

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 Bosnia and Herzegovina ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bosnia and Herzegovina (+22.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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