Croatia: Polishes For Coachwork Market 2024

Polishes For Coachwork Market Size in Croatia

The Croatian polishes for coachwork market shrank to $X in 2022, declining by -7.7% against the previous year. In general, consumption, however, recorded a resilient expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Polishes For Coachwork Production in Croatia

In value terms, polishes for coachwork production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 703% against the previous year. Polishes for coachwork production peaked at $X in 2021, and then shrank in the following year.

Polishes For Coachwork Exports

Exports from Croatia

In 2022, overseas shipments of polishes for coachwork increased by 44% to X tons, rising for the second year in a row after two years of decline. Overall, exports saw a buoyant expansion. The growth pace was the most rapid in 2016 when exports increased by 93%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, polishes for coachwork exports rose markedly to $X in 2022. In general, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 213%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for polishes for coachwork exports from Croatia, accounting for a 56% share of total exports. Moreover, polishes for coachwork exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Slovenia (X tons), fourfold. The third position in this ranking was taken by Serbia (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bosnia and Herzegovina totaled +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+39.6% per year) and Serbia (+23.9% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for polishes for coachwork exports from Croatia, comprising 54% of total exports. The second position in the ranking was taken by Slovenia ($X), with a 9.1% share of total exports. It was followed by Bulgaria, with a 7% share.

From 2012 to 2022, the average annual growth rate of value to Bosnia and Herzegovina totaled +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+21.7% per year) and Bulgaria (+161.1% per year).

Export Prices by Country

In 2022, the average polishes for coachwork export price amounted to $X per ton, reducing by -25.1% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polishes for coachwork export price decreased by -29.6% against 2020 indices. The pace of growth was the most pronounced in 2016 when the average export price increased by 62%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Serbia ($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 Bosnia and Herzegovina (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Polishes For Coachwork Imports

Imports into Croatia

For the third consecutive year, Croatia recorded decline in overseas purchases of polishes for coachwork, which decreased by -9.4% to X tons in 2022. Over the period under review, imports, however, continue to indicate a notable increase. The most prominent rate of growth was recorded in 2015 when imports increased by 72%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, polishes for coachwork imports expanded markedly to $X in 2022. Overall, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 73%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Germany (X tons), Turkey (X tons) and Italy (X tons) were the main suppliers of polishes for coachwork imports to Croatia, together accounting for 74% of total imports. Poland, Austria, Bosnia and Herzegovina, the United States and the UK lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +74.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polishes for coachwork suppliers to Croatia were Germany ($X), Poland ($X) and Austria ($X), with a combined 64% share of total imports.

Poland, with a CAGR of +80.5%, saw 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

The average polishes for coachwork import price stood at $X per ton in 2022, with an increase of 19% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polishes for coachwork import price increased by +47.7% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of 40%. 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 Austria ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :