Serbia: Flexographic Printing Machinery Market 2024

Flexographic Printing Machinery Market Size in Serbia

The Serbian flexographic printing machinery market declined to $X in 2022, falling by -6.6% against the previous year. Overall, consumption continues to indicate a perceptible setback. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Flexographic Printing Machinery Production in Serbia

In value terms, flexographic printing machinery production declined slightly to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable downturn. The growth pace was the most rapid in 2021 with an increase of 2.2%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Flexographic Printing Machinery Exports

Exports from Serbia

After two years of growth, shipments abroad of flexographic printing machinery decreased by -7.2% to X units in 2022. In general, exports showed a mild shrinkage. The growth pace was the most rapid in 2014 with an increase of 98% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, flexographic printing machinery exports soared to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 128%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X units), Bulgaria (X units) and Bosnia and Herzegovina (X units) were the main destinations of flexographic printing machinery exports from Serbia, together accounting for 83% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bulgaria (with a CAGR of +27.7%), while the other leaders experienced more modest paces of growth.

In value terms, Bulgaria ($X), Algeria ($X) and Germany ($X) were the largest markets for flexographic printing machinery exported from Serbia worldwide, together accounting for 90% of total exports.

Bulgaria, with a CAGR of +23.0%, recorded the highest growth rate of 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

In 2022, the average flexographic printing machinery export price amounted to $X per unit, picking up by 75% against the previous year. Overall, the export price posted a mild increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 80% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Algeria ($X per unit), while the average price for exports to Montenegro ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Flexographic Printing Machinery Imports

Imports into Serbia

Flexographic printing machinery imports into Serbia declined rapidly to X units in 2022, which is down by -30.6% compared with the year before. Over the period under review, imports showed a perceptible setback. The most prominent rate of growth was recorded in 2017 when imports increased by 107% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, flexographic printing machinery imports dropped remarkably to $X in 2022. In general, imports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 225%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Italy (X units) constituted the largest supplier of flexographic printing machinery to Serbia, with a 50% share of total imports. Moreover, flexographic printing machinery imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The Netherlands (X units) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+23.1% per year) and the Netherlands (+17.5% per year).

In value terms, Italy ($X), Germany ($X) and the Netherlands ($X) were the largest flexographic printing machinery suppliers to Serbia, together accounting for 97% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +45.8%, saw 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

In 2022, the average flexographic printing machinery import price amounted to $X per unit, increasing by 19% against the previous year. Over the period under review, the import price enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2021 when the average import price increased by 106%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+30.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform