Serbia: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in Serbia

The Serbian polyphenols and phenol-alcohols market soared to $X in 2022, picking up by 21% 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 showed a significant increase. Polyphenols and phenol-alcohols consumption peaked in 2022 and is expected to retain growth in years to come.

Polyphenols And Phenol-Alcohols Exports

Exports from Serbia

Polyphenols and phenol-alcohols exports from Serbia expanded sharply to X tons in 2022, picking up by 13% compared with the previous year's figure. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 19,300% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, polyphenols and phenol-alcohols exports declined to $X in 2022. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 6,025% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

Spain (X tons) was the main destination for polyphenols and phenol-alcohols exports from Serbia, with a 63% share of total exports. Moreover, polyphenols and phenol-alcohols exports to Spain exceeded the volume sent to the second major destination, Brazil (X tons), threefold. The third position in this ranking was held by Argentina (X tons), with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume to Spain amounted to +30.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-16.5% per year) and Argentina (-45.5% per year).

In value terms, Spain ($X) remains the key foreign market for polyphenols and phenol-alcohols exports from Serbia, comprising 65% of total exports. The second position in the ranking was held by Brazil ($X), with a 12% share of total exports. It was followed by Argentina, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain amounted to +51.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-41.4% per year) and Argentina (-49.0% per year).

Export Prices by Country

The average polyphenols and phenol-alcohols export price stood at $X per ton in 2022, which is down by -22.4% against the previous year. In general, the export price, however, showed a moderate increase. The growth pace was the most rapid in 2014 when the average export price increased by 205%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Italy ($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 Bulgaria (+28.8%), while the prices for the other major destinations experienced more modest paces of growth.

Polyphenols And Phenol-Alcohols Imports

Imports into Serbia

For the third year in a row, Serbia recorded growth in purchases abroad of polyphenols and phenol-alcohols, which increased by 19% to X tons in 2022. In general, imports showed a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 197% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, polyphenols and phenol-alcohols imports surged to $X in 2022. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 143% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of polyphenols and phenol-alcohols to Serbia, with a 48% share of total imports. Moreover, polyphenols and phenol-alcohols imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Turkey (X tons), with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +39.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+184.9% per year) and Turkey (+104.0% per year).

In value terms, Germany ($X), Turkey ($X) and China ($X) appeared to be the largest polyphenols and phenol-alcohols suppliers to Serbia, together accounting for 91% of total imports.

China, with a CAGR of +197.5%, recorded the highest growth rate of 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

In 2022, the average polyphenols and phenol-alcohols import price amounted to $X per ton, leveling off at the previous year. In general, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polyphenols and phenol-alcohols import price decreased by -3.2% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 25% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform