Serbia: Activated Carbon Market 2024

Activated Carbon Market Size in Serbia

The Serbian activated carbon market dropped to $X in 2022, therefore, remained relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate tangible growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Activated Carbon Exports

Exports from Serbia

Activated carbon exports from Serbia totaled X tons in 2022, surging by 6.8% compared with 2021. In general, exports showed a noticeable increase. The pace of growth was the most pronounced in 2015 when exports increased by 153% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, activated carbon exports soared to $X in 2022. Overall, total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.9% against 2018 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 63% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for activated carbon exports from Serbia, with a 66% share of total exports. Moreover, activated carbon exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Italy (X tons), fourfold. The third position in this ranking was held by Lithuania (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bosnia and Herzegovina stood at +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+61.6% per year) and Lithuania (0.0% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for activated carbon exports from Serbia, comprising 50% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 22% share of total exports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bosnia and Herzegovina totaled +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (0.0% per year) and Italy (+44.6% per year).

Export Prices by Country

The average activated carbon export price stood at $X per ton in 2022, increasing by 33% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 53% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Italy ($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 Russia (+27.7%), while the prices for the other major destinations experienced more modest paces of growth.

Activated Carbon Imports

Imports into Serbia

In 2022, imports of activated carbon into Serbia reduced to X tons, shrinking by -7.4% against the previous year's figure. In general, imports, however, continue to indicate a tangible expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 378% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, activated carbon imports expanded to $X in 2022. Overall, imports, however, recorded a tangible increase. The most prominent rate of growth was recorded in 2018 when imports increased by 327%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

India (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of activated carbon imports to Serbia, together comprising 69% of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +37.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Germany ($X) and China ($X) constituted the largest activated carbon suppliers to Serbia, with a combined 61% share of total imports. Italy, Austria, Malaysia and the Philippines lagged somewhat behind, together accounting for a further 25%.

Italy, with a CAGR of +32.2%, recorded the highest rates of growth with regard to 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 activated carbon import price stood at $X per ton in 2022, picking up by 12% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, activated carbon import price increased by +46.5% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 34% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 the Philippines ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform