Serbia: Market for Benzoyl Peroxide And Benzoyl Chloride 2024

Market Size for Benzoyl Peroxide And Benzoyl Chloride in Serbia

The Serbian benzoyl peroxide and chloride market surged to $X in 2022, increasing by 49% against the previous year. Over the period under review, the total consumption indicated a modest increase from 2012 to 2022: its value 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, consumption decreased by -10.8% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Benzoyl Peroxide And Benzoyl Chloride in Serbia

In value terms, benzoyl peroxide and chloride production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production saw a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of 8.5%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Benzoyl Peroxide And Benzoyl Chloride

Exports from Serbia

In 2022, shipments abroad of benzoyl peroxide and benzoyl chloride decreased by -68.5% to X kg for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 370% against the previous year. As a result, the exports attained the peak of X tons, and then shrank markedly in the following year.

In value terms, benzoyl peroxide and chloride exports dropped dramatically to $X in 2022. In general, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 655%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Belarus (X kg) was the main destination for benzoyl peroxide and chloride exports from Serbia, with a 91% share of total exports. Moreover, benzoyl peroxide and chloride exports to Belarus exceeded the volume sent to the second major destination, North Macedonia (X kg), more than tenfold.

From 2013 to 2022, the average annual growth rate of volume to Belarus was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+18.8% per year) and Bosnia and Herzegovina (-23.7% per year).

In value terms, Belarus ($X) emerged as the key foreign market for benzoyl peroxide and benzoyl chloride exports from Serbia, comprising 95% of total exports. The second position in the ranking was held by North Macedonia ($X), with a 4.3% share of total exports.

From 2013 to 2022, the average annual growth rate of value to Belarus was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+36.8% per year) and Bosnia and Herzegovina (-16.7% per year).

Export Prices by Country

In 2022, the average benzoyl peroxide and chloride export price amounted to $X per ton, with an increase of 73% against the previous year. In general, the export price saw significant growth. The pace of growth appeared the most rapid in 2014 when the average export price increased by 328%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+30.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Benzoyl Peroxide And Benzoyl Chloride

Imports into Serbia

Benzoyl peroxide and chloride imports into Serbia rose to X tons in 2022, with an increase of 1.8% against the previous year's figure. Overall, imports continue to indicate noticeable growth. The most prominent rate of growth was recorded in 2014 when imports increased by 239% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, benzoyl peroxide and chloride imports rose remarkably to $X in 2022. In general, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +17.2% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 68%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Slovenia (X tons), Turkey (X kg) and Poland (X kg) were the main suppliers of benzoyl peroxide and chloride imports to Serbia, together accounting for 75% of total imports. Italy, Mexico, Germany, Austria and the UK lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +77.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X), Turkey ($X) and Mexico ($X) appeared to be the largest benzoyl peroxide and chloride suppliers to Serbia, together comprising 60% of total imports.

Mexico, with a CAGR of +80.1%, 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 benzoyl peroxide and chloride import price amounted to $X per ton, picking up by 3.3% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, benzoyl peroxide and chloride import price increased by +60.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 55% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform