Serbia: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Serbia

The Serbian polypropylene in primary forms market expanded markedly to $X in 2022, surging by 9.8% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Polypropylene in primary forms consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Polypropylene in Primary Forms in Serbia

In value terms, polypropylene in primary forms production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 15% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Polypropylene in Primary Forms

Exports from Serbia

In 2022, after two years of growth, there was significant decline in overseas shipments of polypropylene in primary forms, when their volume decreased by -38.7% to X tons. Over the period under review, exports showed a slight slump. The growth pace was the most rapid in 2021 when exports increased by 62%. As a result, the exports reached the peak of X tons, and then dropped sharply in the following year.

In value terms, polypropylene in primary forms exports declined dramatically to $X in 2022. Overall, exports saw a mild decline. The most prominent rate of growth was recorded in 2021 when exports increased by 150% against the previous year. As a result, the exports attained the peak of $X, and then contracted dramatically in the following year.

Exports by Country

Ukraine (X tons), Bosnia and Herzegovina (X tons) and Hungary (X tons) were the main destinations of polypropylene in primary forms exports from Serbia, together accounting for 61% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +23.1%), while the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), Bosnia and Herzegovina ($X) and Hungary ($X) constituted the largest markets for polypropylene in primary forms exported from Serbia worldwide, together accounting for 59% of total exports.

Hungary, with a CAGR of +35.5%, saw the highest growth rate of the value of exports, in terms of 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 polypropylene in primary forms export price stood at $X per ton in 2022, falling by -2.8% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 54%. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to North Macedonia ($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 Hungary (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polypropylene in Primary Forms

Imports into Serbia

In 2022, the amount of polypropylene in primary forms imported into Serbia totaled X tons, rising by 4.8% against the year before. Overall, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -10.7% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 40%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, polypropylene in primary forms imports contracted to $X in 2022. Over the period under review, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 77%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

Bulgaria (X tons), Romania (X tons) and Russia (X tons) were the main suppliers of polypropylene in primary forms imports to Serbia, with a combined 45% share of total imports. Italy, Finland, Slovakia, Germany, Poland, Hungary and the Czech Republic lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +65.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polypropylene in primary forms suppliers to Serbia were Bulgaria ($X), Italy ($X) and Russia ($X), with a combined 42% share of total imports. Romania, Finland, Germany, Slovakia, Poland, Hungary and the Czech Republic lagged somewhat behind, together accounting for a further 43%.

Finland, with a CAGR of +66.3%, 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 polypropylene in primary forms import price amounted to $X per ton, dropping by -10.3% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 74%. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

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 Germany ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform