Serbia: Market for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings 2024

Market Size for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Serbia

In 2022, after two years of growth, there was significant decline in the Serbian market for glaziers putty, grafting putty, other mastics and painters' fillings, when its value decreased by -68.3% to $X. In general, consumption recorded a abrupt descent. Over the period under review, the market reached the peak level at $X in 2021, and then fell rapidly in the following year.

Production of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Serbia

In value terms, production of glaziers putty, grafting putty, other mastics and painters' fillings shrank to $X in 2022 estimated in export price. Overall, production, however, saw strong growth. The pace of growth was the most pronounced in 2015 when the production volume increased by 260%. Production of peaked at $X in 2021, and then dropped in the following year.

Exports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Exports from Serbia

In 2022, exports of glaziers putty, grafting putty, other mastics and painters' fillings from Serbia stood at X tons, growing by 5.4% compared with 2021 figures. Overall, exports showed resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by 37% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of glaziers putty, grafting putty, other mastics and painters' fillings soared to $X in 2022. Over the period under review, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2021 when exports increased by 33% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Bosnia and Herzegovina (X tons), Montenegro (X tons) and Croatia (X tons) were the main destinations of exports of glaziers putty, grafting putty, other mastics and painters' fillings from Serbia, together comprising 62% of total exports. North Macedonia, Hungary, Slovakia and Bulgaria lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovakia (with a CAGR of +112.6%), while the other leaders experienced more modest paces of growth.

In value terms, Montenegro ($X), Bosnia and Herzegovina ($X) and North Macedonia ($X) constituted the largest markets for glaziers, grafting putty and painters' filling exported from Serbia worldwide, together accounting for 56% of total exports. Croatia, Slovakia, Bulgaria and Hungary lagged somewhat behind, together comprising a further 24%.

Slovakia, with a CAGR of +90.5%, saw 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

The average export price for glaziers putty, grafting putty, other mastics and painters' fillings stood at $X per ton in 2022, with an increase of 12% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 13%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Croatia ($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 Hungary (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Imports into Serbia

In 2022, purchases abroad of glaziers putty, grafting putty, other mastics and painters' fillings increased by 23% to X tons, rising for the seventh year in a row after two years of decline. In general, imports continue to indicate a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of glaziers putty, grafting putty, other mastics and painters' fillings contracted to $X in 2022. Overall, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, North Macedonia (X tons) constituted the largest glaziers, grafting putty and painters' filling supplier to Serbia, with a 66% share of total imports. Moreover, imports of glaziers putty, grafting putty, other mastics and painters' fillings from North Macedonia exceeded the figures recorded by the second-largest supplier, Slovenia (X tons), sevenfold. Turkey (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from North Macedonia stood at +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+6.5% per year) and Turkey (+17.0% per year).

In value terms, the largest glaziers, grafting putty and painters' filling suppliers to Serbia were Slovenia ($X), Germany ($X) and Turkey ($X), with a combined 47% share of total imports.

Among the main suppliers, Turkey, with a CAGR of +17.1%, saw the highest rates of growth with regard to 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 import price for glaziers putty, grafting putty, other mastics and painters' fillings amounted to $X per ton, reducing by -23.6% against the previous year. In general, the import price showed a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by 12% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Germany ($X per ton), while the price for North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform