Serbia: Polycarboxylic Acid Market 2024

Polycarboxylic Acid Market Size in Serbia

The Serbian polycarboxylic acid market fell to $X in 2022, waning by -3.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank in the following year.

Polycarboxylic Acid Exports

Exports from Serbia

Polycarboxylic acid exports from Serbia shrank rapidly to X tons in 2022, waning by -37.4% on 2021. Overall, exports saw a dramatic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 385% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, polycarboxylic acid exports shrank sharply to $X in 2022. Over the period under review, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 when exports increased by 179%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ukraine (X tons), North Macedonia (X tons) and Montenegro (X tons) were the main destinations of polycarboxylic acid exports from Serbia, together comprising 91% of total exports.

From 2012 to 2022, the biggest increases were recorded for Montenegro (with a CAGR of +65.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polycarboxylic acid exported from Serbia were North Macedonia ($X), Ukraine ($X) and Montenegro ($X), with a combined 83% share of total exports.

Montenegro, with a CAGR of +54.3%, 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

The average polycarboxylic acid export price stood at $X per ton in 2022, surging by 31% against the previous year. Overall, the export price posted a strong expansion. The pace of growth appeared the most rapid in 2015 an increase of 109% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 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 Bosnia and Herzegovina ($X per ton), while the average price for exports to Greece ($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 (+24.4%), while the prices for the other major destinations experienced more modest paces of growth.

Polycarboxylic Acid Imports

Imports into Serbia

In 2022, purchases abroad of polycarboxylic acids decreased by -15.6% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 50% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted notably in the following year.

In value terms, polycarboxylic acid imports stood at $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 82%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Germany (X tons), the Czech Republic (X tons) and the United States (X tons) were the main suppliers of polycarboxylic acid imports to Serbia, together comprising 64% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +65.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Czech Republic ($X) and the United States ($X) appeared to be the largest polycarboxylic acid suppliers to Serbia, with a combined 61% share of total imports.

The United States, with a CAGR of +65.3%, recorded the highest growth rate of the value of imports, among 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 polycarboxylic acid import price stood at $X per ton in 2022, growing by 19% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polycarboxylic acid import price increased by +67.1% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 41%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and Bosnia and Herzegovina ($X per ton), while the price for Germany ($X per ton) and the Czech Republic ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform