Croatia: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Croatia

The Croatian nitric and sulphonitric acids market skyrocketed to $X in 2021, picking up by 39% against the previous year. Over the period under review, consumption, however, recorded a slight descent. Nitric and sulphonitric acids consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Nitric Acid And Sulphonitric Acids in Croatia

In value terms, nitric and sulphonitric acids production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a pronounced curtailment. Nitric and sulphonitric acids production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports from Croatia

In 2021, approx. X tons of nitric acid and sulphonitric acids were exported from Croatia; with an increase of 7.3% compared with the previous year. Over the period under review, exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 438%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, nitric and sulphonitric acids exports surged to $X in 2021. Overall, exports saw a strong increase. The pace of growth was the most pronounced in 2016 when exports increased by 348%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Bosnia and Herzegovina (X tons), Slovenia (X tons) and Italy (X tons) were the main destinations of nitric and sulphonitric acids exports from Croatia, together comprising 95% of total exports. These countries were followed by Kosovo and Hungary, which together accounted for a further 5.4%.

From 2012 to 2021, the biggest increases were recorded for Kosovo (with a CAGR of +4,872.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X), Italy ($X) and Slovenia ($X) were the largest markets for nitric and sulphonitric acids exported from Croatia worldwide, with a combined 90% share of total exports. These countries were followed by Kosovo and Hungary, which together accounted for a further 9.7%.

In terms of the main countries of destination, Kosovo, with a CAGR of +527.2%, saw the highest growth rate of 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 nitric and sulphonitric acids export price stood at $X per ton in 2021, surging by 31% against the previous year. In general, the export price, however, continues to indicate a perceptible decline. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Slovenia ($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 Italy (+3.9%), while the prices for the other major destinations experienced a decline.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Croatia

Nitric and sulphonitric acids imports into Croatia reached X tons in 2021, remaining relatively unchanged against 2020. Overall, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +35.7% against 2016 indices. The pace of growth was the most pronounced in 2013 when imports increased by 35% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, nitric and sulphonitric acids imports skyrocketed to $X in 2021. In general, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.2% against 2016 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 32%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

Slovakia (X tons), Hungary (X tons) and the Czech Republic (X tons) were the main suppliers of nitric and sulphonitric acids imports to Croatia, together comprising 11% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +98.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Hungary ($X) constituted the largest supplier of nitric acid and sulphonitric acids to Croatia, comprising 69% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by Slovakia, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value from Hungary stood at +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.5% per year) and Slovakia (-11.9% per year).

Import Prices by Country

In 2021, the average nitric and sulphonitric acids import price amounted to $X per ton, with an increase of 14% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Germany ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+41.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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