Serbia: Aromatic Hydrocarbon Mixtures Market 2024

Aromatic Hydrocarbon Mixtures Market Size in Serbia

The Serbian aromatic hydrocarbon mixtures market contracted modestly to $X in 2022, which is down by -1.8% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Aromatic Hydrocarbon Mixtures Production in Serbia

In value terms, aromatic hydrocarbon mixtures production contracted to $X in 2022 estimated in export price. In general, production, however, recorded a mild slump. The pace of growth was the most pronounced in 2019 with an increase of 19% against the previous year. Aromatic hydrocarbon mixtures production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Aromatic Hydrocarbon Mixtures Exports

Exports from Serbia

Aromatic hydrocarbon mixtures exports from Serbia amounted to X kg in 2022, surging by 2.2% compared with 2021. Over the period under review, exports, however, saw a precipitous shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 788%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, aromatic hydrocarbon mixtures exports expanded to $X in 2022. In general, exports, however, showed a dramatic slump. The pace of growth was the most pronounced in 2019 when exports increased by 743% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Bosnia and Herzegovina (X kg) was the main destination for aromatic hydrocarbon mixtures exports from Serbia, with a 98% share of total exports. It was followed by North Macedonia (X kg), with a 2.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bosnia and Herzegovina amounted to -7.0%.

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for naphthalene and other aromatic hydrocarbon mixtures exports from Serbia, comprising 93% of total exports. The second position in the ranking was taken by North Macedonia ($X), with a 7.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Bosnia and Herzegovina stood at -2.1%.

Export Prices by Country

The average aromatic hydrocarbon mixtures export price stood at $X per ton in 2022, stabilizing at the previous year. Overall, the export price continues to indicate strong growth. The growth pace was the most rapid in 2014 when the average export price increased by 491%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

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 Bosnia and Herzegovina stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bosnia and Herzegovina (+5.3%), while the prices for the other major destinations experienced a decline.

Aromatic Hydrocarbon Mixtures Imports

Imports into Serbia

For the fourth year in a row, Serbia recorded growth in supplies from abroad of naphthalene and other aromatic hydrocarbon mixtures, which increased by 0.4% to X tons in 2022. Overall, imports showed a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by 391% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, aromatic hydrocarbon mixtures imports surged to $X in 2022. In general, imports showed strong growth. The growth pace was the most rapid in 2013 when imports increased by 227% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Italy (X tons) constituted the largest aromatic hydrocarbon mixtures supplier to Serbia, accounting for a 38% share of total imports. Moreover, aromatic hydrocarbon mixtures imports from Italy exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was held by Austria (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled +38.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+31.2% per year) and Austria (+3.3% per year).

In value terms, Italy ($X), Austria ($X) and Belgium ($X) constituted the largest aromatic hydrocarbon mixtures suppliers to Serbia, together accounting for 52% of total imports. Poland, Israel, Germany, the Netherlands, Slovenia and the United States lagged somewhat behind, together accounting for a further 46%.

In terms of the main suppliers, Israel, with a CAGR of +40.9%, recorded 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

The average aromatic hydrocarbon mixtures import price stood at $X per ton in 2022, with an increase of 59% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 78% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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 Poland ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform