Serbia: Market for Saturated Acyclic Monocarboxylic Acids 2024

Market Size for Saturated Acyclic Monocarboxylic Acids in Serbia

The Serbian saturated acyclic monocarboxylic acids market skyrocketed to $X in 2022, jumping by X% against the previous year. In general, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Saturated Acyclic Monocarboxylic Acids in Serbia

In value terms, saturated acyclic monocarboxylic acids production reduced remarkably to $X in 2022 estimated in export price. In general, production saw a sharp downturn. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Saturated Acyclic Monocarboxylic Acids

Exports from Serbia

In 2022, shipments abroad of saturated acyclic monocarboxylic acids decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports faced a dramatic contraction. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then contracted significantly in the following year.

In value terms, saturated acyclic monocarboxylic acids exports reduced dramatically to $X in 2022. Overall, exports recorded a deep slump. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

North Macedonia (X tons), Bosnia and Herzegovina (X tons) and Russia (X tons) were the main destinations of saturated acyclic monocarboxylic acids exports from Serbia, together accounting for X% 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 Russia (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, North Macedonia ($X) emerged as the key foreign market for saturated acyclic monocarboxylic acids exports from Serbia, comprising X% of total exports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with a X% share of total exports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to North Macedonia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (X% per year) and Russia (X% per year).

Export Prices by Country

In 2022, the average saturated acyclic monocarboxylic acids export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price showed significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

Imports of Saturated Acyclic Monocarboxylic Acids

Imports into Serbia

In 2022, overseas purchases of saturated acyclic monocarboxylic acids decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped slightly in the following year.

In value terms, saturated acyclic monocarboxylic acids imports skyrocketed to $X in 2022. In general, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Germany (X tons), China (X tons) and the UK (X tons) were the main suppliers of saturated acyclic monocarboxylic acids imports to Serbia, together comprising X% of total imports. Turkey, Saudi Arabia, the United States, the Netherlands, Bosnia and Herzegovina, Malaysia, Belgium, Italy, Ukraine and Russia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest saturated acyclic monocarboxylic acids suppliers to Serbia were Germany ($X), China ($X) and Belgium ($X), together accounting for X% of total imports. The United States, Turkey, the UK, Italy, Malaysia, Saudi Arabia, the Netherlands, Bosnia and Herzegovina, Ukraine and Russia lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Malaysia, with a CAGR of X%, saw the highest growth rate of 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

The average saturated acyclic monocarboxylic acids import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, saturated acyclic monocarboxylic acids import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Belgium ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform