Serbia: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Serbia

In 2022, the Serbian plant-growth regulators market decreased by -8.9% to $X, falling for the third consecutive year after two years of growth. Overall, consumption continues to indicate a abrupt setback. Plant-growth regulators consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Plant-Growth Regulators Exports

Exports from Serbia

For the seventh year in a row, Serbia recorded growth in shipments abroad of plant-growth regulators, which increased by 25% to X tons in 2022. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 90%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, plant-growth regulators exports soared to $X in 2022. Over the period under review, exports saw a significant increase. The growth pace was the most rapid in 2020 when exports increased by 104%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Bosnia and Herzegovina (X tons), Croatia (X tons) and Poland (X tons) were the main destinations of plant-growth regulators exports from Serbia, with a combined 55% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +78.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) remains the key foreign market for plant-growth regulators exports from Serbia, comprising 41% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with an 18% share of total exports. It was followed by Croatia, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland amounted to +63.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+11.5% per year) and Croatia (+40.5% per year).

Export Prices by Country

The average plant-growth regulators export price stood at $X per ton in 2022, approximately equating the previous year. Overall, the export price, however, recorded a noticeable decline. The pace of growth appeared the most rapid in 2016 an increase of 21%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Kazakhstan ($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 Greece (+6.9%), while the prices for the other major destinations experienced a decline.

Plant-Growth Regulators Imports

Imports into Serbia

In 2022, the amount of plant-growth regulators imported into Serbia rose notably to X tons, growing by 9.4% against the year before. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 43% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, plant-growth regulators imports skyrocketed to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 51% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plant-growth regulators to Serbia, accounting for a 46% share of total imports. Moreover, plant-growth regulators imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by France (X tons), with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.9% per year) and France (+1.1% per year).

In value terms, the largest plant-growth regulators suppliers to Serbia were China ($X), Germany ($X) and France ($X), with a combined 74% share of total imports. Israel, Belgium, Switzerland, Italy, Hungary and Romania lagged somewhat behind, together comprising a further 19%.

Romania, with a CAGR of +21.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average plant-growth regulators import price stood at $X per ton in 2022, surging by 13% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 34%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 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 Italy ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+22.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform