Croatia: Salicylic Acid Market 2024

Salicylic Acid Market Size in Croatia

The Croatian salicylic acid market reduced to $X in 2021, with a decrease of -6.7% against the previous year. In general, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +20.6% against 2019 indices. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Salicylic Acid Production in Croatia

In value terms, salicylic acid production fell to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 29%. Over the period under review, production reached the peak level at $X in 2020, and then contracted in the following year.

Salicylic Acid Exports

Exports from Croatia

Salicylic acid exports from Croatia dropped notably to X tons in 2021, with a decrease of -53.8% on the year before. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2016 with an increase of 496% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, salicylic acid exports reduced markedly to $X in 2021. Over the period under review, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 268%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X kg) was the main destination for salicylic acid exports from Croatia, accounting for a 73% share of total exports. Moreover, salicylic acid exports to Germany exceeded the volume sent to the second major destination, Slovenia (X kg), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at -12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+31.2% per year) and Bosnia and Herzegovina (-0.8% per year).

In value terms, Slovenia ($X), Germany ($X) and Bosnia and Herzegovina ($X) were the largest markets for salicylic acid exported from Croatia worldwide, together comprising 99% of total exports.

Among the main countries of destination, Slovenia, with a CAGR of +64.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average salicylic acid export price amounted to $X per ton, with an increase of 33% against the previous year. Overall, the export price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 an increase of 85% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in the immediate term.

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 Slovenia ($X per ton), while the average price for exports to Germany ($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 Slovenia (+25.0%), while the prices for the other major destinations experienced mixed trend patterns.

Salicylic Acid Imports

Imports into Croatia

In 2021, the amount of salicylic acid and its salts imported into Croatia shrank sharply to X tons, declining by -15.3% on the previous year's figure. In general, imports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2013 when imports increased by 415% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, salicylic acid imports shrank rapidly to $X in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 174%. Over the period under review, imports hit record highs at $X in 2020, and then contracted remarkably in the following year.

Imports by Country

Switzerland (X tons), Denmark (X tons) and Poland (X tons) were the main suppliers of salicylic acid imports to Croatia, with a combined 79% share of total imports. Germany, Italy, the Netherlands, Greece and France lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +15.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest salicylic acid suppliers to Croatia were Germany ($X), Switzerland ($X) and Poland ($X), together comprising 74% of total imports.

Among the main suppliers, Germany, with a CAGR of +35.7%, recorded 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 salicylic acid import price stood at $X per ton in 2021, waning by -9.4% against the previous year. Over the period under review, the import price showed a perceptible reduction. The growth pace was the most rapid in 2017 an increase of 39% against the previous year. Over the period under review, average import prices reached the peak figure 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 ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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