Serbia: Polyethylene Binder Market 2024

Polyethylene Binder Market Size in Serbia

After two years of growth, the Serbian polyethylene binder market decreased by -21.1% to $X in 2022. In general, consumption, however, posted a buoyant expansion. As a result, consumption reached the peak level of $X, and then dropped significantly in the following year.

Polyethylene Binder Production in Serbia

In value terms, polyethylene binder production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 45%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Polyethylene Binder Exports

Exports from Serbia

After two years of decline, overseas shipments of polyethylene or polypropylene binder or baler (agricultural) twines increased by 10% to X tons in 2022. In general, total exports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -30.8% against 2017 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 27% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, polyethylene binder exports skyrocketed to $X in 2022. Overall, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 62% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for polyethylene binder exports from Serbia, with a 29% share of total exports. Moreover, polyethylene binder exports to Germany exceeded the volume sent to the second major destination, Romania (X tons), twofold. Italy (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+23.3% per year) and Italy (-1.2% per year).

In value terms, Germany ($X) remains the key foreign market for polyethylene or polypropylene binder or baler (agricultural) twines exports from Serbia, comprising 29% of total exports. The second position in the ranking was taken by Romania ($X), with a 13% share of total exports. It was followed by Italy, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+23.5% per year) and Italy (+2.5% per year).

Export Prices by Country

The average polyethylene binder export price stood at $X per ton in 2022, picking up by 5.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2021 an increase of 33% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Russia ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Hungary ($X per ton) and Albania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Binder Imports

Imports into Serbia

In 2022, approx. X tons of polyethylene or polypropylene binder or baler (agricultural) twines were imported into Serbia; growing by 2% on the previous year. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 66%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, polyethylene binder imports expanded rapidly to $X in 2022. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +96.5% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 41%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

North Macedonia (X tons), the Czech Republic (X tons) and Slovenia (X tons) were the main suppliers of polyethylene binder imports to Serbia, together comprising 78% of total imports.

From 2012 to 2022, the biggest increases were recorded for Slovenia (with a CAGR of +31.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polyethylene binder suppliers to Serbia were North Macedonia ($X), Slovenia ($X) and the Czech Republic ($X), together accounting for 75% of total imports.

Among the main suppliers, Slovenia, with a CAGR of +31.4%, recorded 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 polyethylene binder import price amounted to $X per ton, picking up by 9.5% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polyethylene binder import price increased by +51.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 38%. The import price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform