Croatia: Rare Gases Market 2024

Rare Gases Market Size in Croatia

The Croatian rare gases market shrank to $X in 2022, waning by -12.9% against the previous year. Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.3% against 2020 indices. Rare gases consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Rare Gases Production in Croatia

In value terms, rare gases production contracted modestly to $X in 2022 estimated in export price. Overall, production, however, saw a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 428% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Rare Gases Exports

Exports from Croatia

In 2022, overseas shipments of rare gases (excluding argon) increased by 15% to X cubic meters, rising for the second consecutive year after two years of decline. In general, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 780%. As a result, the exports reached the peak of X cubic meters. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, rare gases exports declined to $X in 2022. Overall, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2018 when exports increased by 554%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank slightly in the following year.

Exports by Country

Slovenia (X cubic meters) was the main destination for rare gases exports from Croatia, accounting for a 96% share of total exports. It was followed by Serbia (X cubic meters), with a 3% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Slovenia amounted to +68.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+5.0% per year) and Bosnia and Herzegovina (-16.6% per year).

In value terms, Slovenia ($X) remains the key foreign market for rare gases (excluding argon) exports from Croatia, comprising 89% of total exports. The second position in the ranking was taken by Serbia ($X), with a 6.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovenia totaled +84.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-3.4% per year) and Bosnia and Herzegovina (-2.1% per year).

Export Prices by Country

In 2022, the average rare gases export price amounted to $X per cubic meter, waning by -16.6% against the previous year. In general, the export price saw a slight curtailment. The most prominent rate of growth was recorded in 2015 when the average export price increased by 60% against the previous year. The export price peaked at $X per cubic meter in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per cubic meter), while the average price for exports to Slovenia ($X per cubic meter) 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 (+17.3%), while the prices for the other major destinations experienced mixed trend patterns.

Rare Gases Imports

Imports into Croatia

In 2022, supplies from abroad of rare gases (excluding argon) increased by 2.5% to X cubic meters, rising for the second year in a row after four years of decline. In general, imports, however, recorded a significant curtailment. The growth pace was the most rapid in 2013 with an increase of 18%. As a result, imports attained the peak of X cubic meters. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, rare gases imports surged to $X in 2022. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +69.2% against 2016 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 18%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Italy (X cubic meters), Algeria (X cubic meters) and Slovenia (X cubic meters) were the main suppliers of rare gases imports to Croatia, with a combined 64% share of total imports. Germany, the United States, Hungary, Qatar and Austria lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Qatar (with a CAGR of +9.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Algeria ($X) and Germany ($X) appeared to be the largest rare gases suppliers to Croatia, together comprising 73% of total imports.

Germany, with a CAGR of +30.3%, recorded the highest rates of growth with regard to the value of imports, among 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 rare gases import price amounted to $X per cubic meter, surging by 14% against the previous year. Over the period under review, the import price showed a significant expansion. The pace of growth was the most pronounced in 2019 an increase of 280%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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 Qatar ($X per cubic meter), while the price for Slovenia ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+34.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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