Report Update Nov 1, 2024

Serbia - Urea - Market Analysis, Forecast, Size, Trends and Insights

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Serbia: Urea Market 2024

Urea Market Size in Serbia

The Serbian urea market skyrocketed to $X in 2022, rising by 176% against the previous year. Over the period under review, consumption recorded a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Urea Production in Serbia

In value terms, urea production shrank dramatically to $X in 2022 estimated in export price. Over the period under review, production recorded a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 43%. Urea production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Urea Exports

Exports from Serbia

In 2022, overseas shipments of urea increased by 286% to X tons, rising for the third year in a row after four years of decline. Overall, exports saw buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, urea exports surged to $X in 2022. Over the period under review, exports continue to indicate a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Croatia (X tons) was the main destination for urea exports from Serbia, with a 58% share of total exports. Moreover, urea exports to Croatia exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), fourfold. Hungary (X tons) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Croatia stood at +33.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+2.2% per year) and Hungary (+59.3% per year).

In value terms, the largest markets for urea exported from Serbia were Croatia ($X), Bosnia and Herzegovina ($X) and Hungary ($X), with a combined 77% share of total exports.

Hungary, with a CAGR of +69.9%, recorded the highest rates of growth with regard to 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

In 2022, the average urea export price amounted to $X per ton, growing by 2.3% against the previous year. Overall, the export price continues to indicate a modest expansion. The pace of growth appeared the most rapid in 2021 when the average export price increased by 80% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Albania ($X per ton), while the average price for exports to Montenegro ($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 Austria (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Urea Imports

Imports into Serbia

In 2022, approx. X tons of urea were imported into Serbia; picking up by 197% compared with the previous year. Overall, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2019 with an increase of 199%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, urea imports surged to $X in 2022. Over the period under review, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) constituted the largest urea supplier to Serbia, accounting for a 75% share of total imports. Moreover, urea imports from Russia exceeded the figures recorded by the second-largest supplier, Austria (X tons), more than tenfold. The third position in this ranking was held by Egypt (X tons), with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia stood at +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+4.5% per year) and Egypt (0.0% per year).

In value terms, Russia ($X) constituted the largest supplier of urea to Serbia, comprising 64% of total imports. The second position in the ranking was taken by Egypt ($X), with a 6.5% share of total imports. It was followed by Turkmenistan, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia totaled +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (0.0% per year) and Turkmenistan (+162.4% per year).

Import Prices by Country

The average urea import price stood at $X per ton in 2022, picking up by 7.2% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 53%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkmenistan (+59.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

This report provides an in-depth analysis of the urea market in Serbia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4001 -

Country coverage:

Serbia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Serbia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023