Serbia: Potassium Hydroxide Market 2024

Potassium Hydroxide Market Size in Serbia

The Serbian potassium hydroxide market amounted to $X in 2022, with an increase of 12% against the previous year. Overall, consumption, however, continues to indicate a pronounced descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Potassium Hydroxide Production in Serbia

In value terms, potassium hydroxide production amounted to $X in 2022 estimated in export price. Overall, production, however, saw a noticeable slump. The pace of growth appeared the most rapid in 2020 with an increase of 53% against the previous year. Potassium hydroxide production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Potassium Hydroxide Exports

Exports from Serbia

Potassium hydroxide exports from Serbia skyrocketed to X tons in 2022, jumping by 66% on 2021. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 2,594%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, potassium hydroxide exports skyrocketed to $X in 2022. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 1,451% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Austria (X tons), Bosnia and Herzegovina (X tons) and North Macedonia (X tons) were the main destinations of potassium hydroxide exports from Serbia, together accounting for 99.9% 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 Bosnia and Herzegovina (with a CAGR of +83.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for potassium hydroxide exported from Serbia were Austria ($X), North Macedonia ($X) and Bosnia and Herzegovina ($X), with a combined 100% share of total exports.

In terms of the main countries of destination, Bosnia and Herzegovina, with a CAGR of +62.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average potassium hydroxide export price stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the export price continues to indicate a drastic downturn. The growth pace was the most rapid in 2018 an increase of 179% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 North Macedonia (-4.9%), while the prices for the other major destinations experienced a decline.

Potassium Hydroxide Imports

Imports into Serbia

In 2022, the amount of potassium hydroxide (caustic potash) imported into Serbia skyrocketed to X tons, with an increase of 18% on 2021. Overall, imports showed a significant increase. The growth pace was the most rapid in 2015 with an increase of 77%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, potassium hydroxide imports surged to $X in 2022. In general, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), the Czech Republic (X tons) and Italy (X tons) were the main suppliers of potassium hydroxide imports to Serbia, together comprising 83% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +151.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest potassium hydroxide suppliers to Serbia were South Korea ($X), Italy ($X) and Russia ($X), together comprising 82% of total imports.

Italy, with a CAGR of +103.3%, saw 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 potassium hydroxide import price stood at $X per ton in 2022, jumping by 51% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium hydroxide import price increased by +50.2% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+8.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform