Croatia: Styrene Market 2024

Styrene Market Size in Croatia

In 2021, the Croatian styrene market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Styrene Exports

Exports from Croatia

In 2021, shipments abroad of styrene was finally on the rise to reach X tons after three years of decline. Overall, exports, however, saw a deep slump. The pace of growth was the most pronounced in 2016 when exports increased by 61% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, styrene exports soared to $X in 2021. Over the period under review, exports, however, saw a drastic downturn. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for styrene exports from Croatia, with a 46% share of total exports. Moreover, styrene exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Hungary (X tons), twofold. The third position in this ranking was held by Greece (X tons), with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bosnia and Herzegovina amounted to +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+18.9% per year) and Greece (-4.2% per year).

In value terms, Bosnia and Herzegovina ($X), Hungary ($X) and Greece ($X) constituted the largest markets for styrene exported from Croatia worldwide, with a combined 89% share of total exports.

Hungary, with a CAGR of +26.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average styrene export price stood at $X per ton in 2021, growing by 42% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Slovenia ($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 Hungary (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Styrene Imports

Imports into Croatia

In 2021, approx. X tons of styrene were imported into Croatia; surging by 13% against 2020 figures. The total import volume increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when imports increased by 17%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, styrene imports soared to $X in 2021. In general, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of styrene to Croatia, with a 67% share of total imports. Moreover, styrene imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands stood at +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.7% per year) and Belgium (-4.6% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of styrene to Croatia, comprising 64% of total imports. The second position in the ranking was held by Italy ($X), with a 26% share of total imports. It was followed by Belgium, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands amounted to +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.4% per year) and Belgium (-3.6% per year).

Import Prices by Country

The average styrene import price stood at $X per ton in 2021, picking up by 80% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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