Serbia: Sulphuric Acid Market 2025

Sulphuric Acid Market Size in Serbia

The Serbian sulphuric acid market surged to $X in 2022, growing by 302% against the previous year. Overall, consumption enjoyed significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sulphuric Acid Production in Serbia

In value terms, sulphuric acid production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by 491% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sulphuric Acid Exports

Exports from Serbia

Sulphuric acid exports from Serbia shrank dramatically to X tons in 2022, waning by -35.5% compared with the previous year's figure. In general, exports saw a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 73%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, sulphuric acid exports fell to $X in 2022. Over the period under review, exports saw a mild descent. The pace of growth appeared the most rapid in 2016 when exports increased by 53%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for sulphuric acid exports from Serbia, accounting for a 71% share of total exports. Moreover, sulphuric acid exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Romania (X tons), fourfold. Bulgaria (X tons) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bosnia and Herzegovina stood at +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-3.6% per year) and Bulgaria (-9.1% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for sulphuric acid and oleum exports from Serbia, comprising 83% of total exports. The second position in the ranking was held by Romania ($X), with an 8.1% share of total exports. It was followed by Bulgaria, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to Bosnia and Herzegovina stood at +25.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-3.4% per year) and Bulgaria (-11.0% per year).

Export Prices by Country

The average sulphuric acid export price stood at $X per ton in 2022, picking up by 40% against the previous year. Overall, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2019 an increase of 88% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Greece ($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 (+32.3%), while the prices for the other major destinations experienced mixed trend patterns.

Sulphuric Acid Imports

Imports into Serbia

In 2022, overseas purchases of sulphuric acid and oleum increased by 170% to X tons, rising for the second consecutive year after two years of decline. In general, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 351% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, sulphuric acid imports surged to $X in 2022. Overall, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Bulgaria (X tons) was the main supplier of sulphuric acid to Serbia, with a 93% share of total imports. Moreover, sulphuric acid imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Hungary (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Bulgaria amounted to +169.2%.

In value terms, Bulgaria ($X) constituted the largest supplier of sulphuric acid and oleum to Serbia, comprising 92% of total imports. The second position in the ranking was held by Hungary ($X), with a 7.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Bulgaria totaled +111.6%.

Import Prices by Country

In 2022, the average sulphuric acid import price amounted to $X per ton, jumping by 79% against the previous year. Overall, the import price, however, showed a slight decrease. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Bulgaria totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+20.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform