Serbia: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in Serbia

The Serbian ethylene polymer bag market declined to $X in 2022, with a decrease of -2.8% against the previous year. Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.5% against 2019 indices. Ethylene polymer bag consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Ethylene Polymer Bag Production in Serbia

In value terms, ethylene polymer bag production declined to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.1% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 46%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Ethylene Polymer Bag Exports

Exports from Serbia

In 2022, overseas shipments of sacks and bags of polymers of ethylene increased by 8.4% to X tons, rising for the second year in a row after two years of decline. In general, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +15.1% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 24%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethylene polymer bag exports rose remarkably to $X in 2022. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 28%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Romania (X tons), Croatia (X tons) and Montenegro (X tons) were the main destinations of ethylene polymer bag exports from Serbia, with a combined 48% share of total exports. Bosnia and Herzegovina, Sweden, North Macedonia, France, Slovenia, Denmark, Hungary, Italy and Bulgaria lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +77.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X), Romania ($X) and Montenegro ($X) appeared to be the largest markets for ethylene polymer bag exported from Serbia worldwide, with a combined 41% share of total exports. Croatia, Sweden, North Macedonia, Slovenia, Hungary, France, Italy, Denmark and Bulgaria lagged somewhat behind, together comprising a further 49%.

In terms of the main countries of destination, Hungary, with a CAGR of +72.3%, recorded the highest rates of growth with regard to 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 ethylene polymer bag export price stood at $X per ton in 2022, with an increase of 6% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 21% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Romania ($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 Slovenia (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ethylene Polymer Bag Imports

Imports into Serbia

Ethylene polymer bag imports into Serbia soared to X tons in 2022, with an increase of 23% against the previous year's figure. In general, imports recorded a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 51% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, ethylene polymer bag imports skyrocketed to $X in 2022. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 29%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Poland (X tons) constituted the largest ethylene polymer bag supplier to Serbia, with a 38% share of total imports. Moreover, ethylene polymer bag imports from Poland exceeded the figures recorded by the second-largest supplier, Montenegro (X tons), threefold. Bosnia and Herzegovina (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland stood at +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Montenegro (+37.9% per year) and Bosnia and Herzegovina (+2.2% per year).

In value terms, Poland ($X), Germany ($X) and Turkey ($X) constituted the largest ethylene polymer bag suppliers to Serbia, with a combined 53% share of total imports. Italy, Bosnia and Herzegovina, Montenegro, China, Croatia, Slovenia and Austria lagged somewhat behind, together comprising a further 38%.

Montenegro, with a CAGR of +31.7%, 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

The average ethylene polymer bag import price stood at $X per ton in 2022, increasing by 3.3% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 19% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform