Croatia: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Croatia

For the third consecutive year, the Croatian plant-growth regulators market recorded growth in sales value, which increased by 28% to $X in 2022. In general, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +24.2% against 2018 indices. Plant-growth regulators consumption peaked in 2022 and is expected to retain growth in years to come.

Plant-Growth Regulators Exports

Exports from Croatia

For the third consecutive year, Croatia recorded growth in overseas shipments of plant-growth regulators, which increased by 64% to X tons in 2022. In general, exports posted a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 116%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, plant-growth regulators exports soared to $X in 2022. Over the period under review, exports enjoyed significant growth. The pace of growth was the most pronounced in 2014 with an increase of 170% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Germany (X tons) was the main destination for plant-growth regulators exports from Croatia, with a 79% share of total exports. Moreover, plant-growth regulators exports to Germany exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), more than tenfold. Hungary (X tons) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to +99.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (-7.5% per year) and Hungary (+11.4% per year).

In value terms, Germany ($X) remains the key foreign market for plant-growth regulators exports from Croatia, comprising 75% of total exports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with an 11% share of total exports. It was followed by North Macedonia, with a 3% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +77.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+0.5% per year) and North Macedonia (+17.3% per year).

Export Prices by Country

The average plant-growth regulators export price stood at $X per ton in 2022, growing by 16% against the previous year. Over the last decade, it increased at an average annual rate of +4.9%. The growth pace was the most rapid in 2014 an increase of 49% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Hungary ($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 North Macedonia (+20.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plant-Growth Regulators Imports

Imports into Croatia

For the third consecutive year, Croatia recorded growth in supplies from abroad of plant-growth regulators, which increased by 25% to X tons in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by +0.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 33%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, plant-growth regulators imports soared to $X in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +9.5% 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 +48.9% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Serbia (X tons) and Hungary (X tons) were the main suppliers of plant-growth regulators imports to Croatia, together comprising 41% of total imports. Slovenia, Belgium, Poland, Italy, Ireland, Austria, Germany, Spain, Romania and China lagged somewhat behind, together comprising a further 51%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +39.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plant-growth regulators suppliers to Croatia were France ($X), Slovenia ($X) and Hungary ($X), together accounting for 53% of total imports. Italy, Poland, Belgium, Germany, Spain, Austria, Serbia, Romania, China and Ireland lagged somewhat behind, together accounting for a further 39%.

In terms of the main suppliers, Poland, with a CAGR of +38.0%, 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

The average plant-growth regulators import price stood at $X per ton in 2022, increasing by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The pace of growth appeared the most rapid in 2019 an increase of 14%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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 ($X per ton), while the price for Serbia ($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 (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform