Croatia: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Croatia

The Croatian phenylacetic acid market skyrocketed to $X in 2022, jumping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a strong increase. Phenylacetic acid consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Phenylacetic Acid Exports

Exports from Croatia

In 2022, the amount of phenylacetic acid, its salts and esters exported from Croatia surged to X tons, rising by X% on the year before. Overall, exports recorded significant growth. The pace of growth was the most pronounced in 2013 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, phenylacetic acid exports soared to $X in 2022. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for phenylacetic acid exports from Croatia, accounting for a X% share of total exports. Moreover, phenylacetic acid exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Serbia (X kg), tenfold.

From 2012 to 2022, the average annual growth rate of volume to Bosnia and Herzegovina stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (X% per year) and Slovenia (X% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for phenylacetic acid, its salts and esters exports from Croatia, comprising X% of total exports. The second position in the ranking was held by Serbia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Bosnia and Herzegovina totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (X% per year) and Slovenia (X% per year).

Export Prices by Country

The average phenylacetic acid export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2019 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Phenylacetic Acid Imports

Imports into Croatia

In 2022, imports of phenylacetic acid, its salts and esters into Croatia soared to X tons, growing by X% compared with the year before. In general, imports showed a measured expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, phenylacetic acid imports rose slightly to $X in 2022. Over the period under review, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Austria (X tons), China (X tons) and Germany (X tons) were the main suppliers of phenylacetic acid imports to Croatia, together comprising X% of total imports. Belgium, Italy and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Austria ($X) and Germany ($X) appeared to be the largest phenylacetic acid suppliers to Croatia, with a combined X% share of total imports. Italy, Belgium and the United States lagged somewhat behind, together comprising a further X%.

Italy, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average phenylacetic acid import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price, however, saw a strong expansion. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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