Serbia: Alumina Market 2024

Alumina Market Size in Serbia

The Serbian alumina market skyrocketed to $X in 2022, surging by 33% 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, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +34.1% against 2020 indices. Alumina consumption peaked in 2022 and is likely to continue growth in years to come.

Alumina Exports

Exports from Serbia

In 2022, overseas shipments of alumina were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, faced a abrupt decline. The growth pace was the most rapid in 2019 with an increase of 994%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, alumina exports skyrocketed to $X in 2022. Over the period under review, exports, however, faced a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of 660% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Romania (X tons) was the main destination for alumina exports from Serbia, accounting for a 91% share of total exports. Moreover, alumina exports to Romania exceeded the volume sent to the second major destination, Ukraine (X kg), more than tenfold. The Netherlands (X kg) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume to Romania totaled -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+0.3% per year) and the Netherlands (+46.3% per year).

In value terms, Romania ($X) remains the key foreign market for alumina exports from Serbia, comprising 51% of total exports. The second position in the ranking was held by Ukraine ($X), with a 17% share of total exports. It was followed by Bosnia and Herzegovina, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania amounted to -13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+2.5% per year) and Bosnia and Herzegovina (+62.8% per year).

Export Prices by Country

The average alumina export price stood at $X per ton in 2022, falling by -4.8% against the previous year. Overall, the export price, however, recorded a measured expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by 81%. The export price peaked at $X per ton in 2018; however, from 2019 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 Ukraine ($X per ton), while the average price for exports to Romania ($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 the Netherlands (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Alumina Imports

Imports into Serbia

In 2022, supplies from abroad of alumina increased by 43% to X tons, rising for the second consecutive year after two years of decline. In general, imports posted a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, alumina imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 58% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Bosnia and Herzegovina (X tons) constituted the largest supplier of alumina to Serbia, with a 74% share of total imports. Moreover, alumina imports from Bosnia and Herzegovina exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2022, the average annual growth rate of volume from Bosnia and Herzegovina totaled +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.3% per year) and China (+12.6% per year).

In value terms, the largest alumina suppliers to Serbia were Bosnia and Herzegovina ($X), Germany ($X) and China ($X), together accounting for 64% of total imports. These countries were followed by the Netherlands, the UK, Austria, France and Hungary, which together accounted for a further 17%.

Austria, with a CAGR of +63.3%, 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 alumina import price amounted to $X per ton, shrinking by -11.9% against the previous year. In general, the import price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 31% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform