Serbia: M-Xylene And Xylenes Market 2024

M-Xylene And Xylenes Market Size in Serbia

In 2022, the Serbian m-xylene and xylenes market decreased by -80.8% to $X, falling for the second consecutive year after three years of growth. In general, consumption, however, recorded tangible growth. X-xylene and xylenes consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

M-Xylene And Xylenes Exports

Exports from Serbia

In 2022, the amount of m-xylene and mixed xylene isomers exported from Serbia declined significantly to X tons, dropping by -28.3% compared with 2021. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 4,705%. The exports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, m-xylene and xylenes exports reduced dramatically to $X in 2022. Over the period under review, exports, however, posted significant growth. The pace of growth was the most pronounced in 2018 when exports increased by 2,758% against the previous year. The exports peaked at $X in 2021, and then shrank remarkably in the following year.

Exports by Country

North Macedonia (X tons) was the main destination for m-xylene and xylenes exports from Serbia, accounting for a 65% share of total exports. Moreover, m-xylene and xylenes exports to North Macedonia exceeded the volume sent to the second major destination, Croatia (X tons), threefold. Montenegro (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume to North Macedonia stood at +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (0.0% per year) and Montenegro (+11.4% per year).

In value terms, North Macedonia ($X), Bosnia and Herzegovina ($X) and Croatia ($X) constituted the largest markets for m-xylene and xylenes exported from Serbia worldwide, with a combined 90% share of total exports.

In terms of the main countries of destination, Bosnia and Herzegovina, with a CAGR of +39.3%, saw the highest growth rate of the value of exports, 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 m-xylene and xylenes export price amounted to $X per ton, declining by -24.4% against the previous year. Over the period under review, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2013 when the average export price increased by 23%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Bosnia and Herzegovina ($X per ton), while the average price for exports to North Macedonia ($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 Bosnia and Herzegovina (+5.9%), while the prices for the other major destinations experienced a decline.

M-Xylene And Xylenes Imports

Imports into Serbia

In 2022, supplies from abroad of m-xylene and mixed xylene isomers decreased by -83% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2018 when imports increased by 247% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, m-xylene and xylenes imports reduced remarkably to $X in 2022. In general, imports, however, continue to indicate a notable increase. The pace of growth was the most pronounced in 2018 with an increase of 223% against the previous year. Imports peaked at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

In 2022, Slovakia (X tons) constituted the largest m-xylene and xylenes supplier to Serbia, accounting for a 79% share of total imports. Moreover, m-xylene and xylenes imports from Slovakia exceeded the figures recorded by the second-largest supplier, Croatia (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Slovakia amounted to +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (0.0% per year) and China (-11.9% per year).

In value terms, Slovakia ($X) constituted the largest supplier of m-xylene and mixed xylene isomers to Serbia, comprising 78% of total imports. The second position in the ranking was taken by Croatia ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Slovakia amounted to +13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (0.0% per year) and China (-8.0% per year).

Import Prices by Country

In 2022, the average m-xylene and xylenes import price amounted to $X per ton, jumping by 39% against the previous year. Overall, the import price, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 55%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 China ($X per ton), while the price for Croatia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform