Croatia: Base Metal Hook Market 2023

Base Metal Hook Market Size in Croatia

In 2021, the Croatian base metal hook market decreased by -3.8% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption, however, continues to indicate a pronounced shrinkage. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Base Metal Hook Production in Croatia

In value terms, base metal hook production soared to $X in 2021 estimated in export price. In general, production, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 32% against the previous year. Base metal hook production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Base Metal Hook Exports

Exports from Croatia

In 2021, overseas shipments of base metal hooks, eyes and eyelets decreased by -17% to X tons, falling for the second consecutive year after six years of growth. Over the period under review, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 339%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, base metal hook exports expanded significantly to $X in 2021. In general, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 257% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for base metal hook exports from Croatia, with a 47% share of total exports. Moreover, base metal hook exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Italy (X tons), twofold. The third position in this ranking was taken by Serbia (X tons), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume to Bosnia and Herzegovina totaled +37.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+61.5% per year) and Serbia (+55.8% per year).

In value terms, Bosnia and Herzegovina ($X), Italy ($X) and Serbia ($X) were the largest markets for base metal hook exported from Croatia worldwide, with a combined 87% share of total exports.

Among the main countries of destination, Serbia, with a CAGR of +81.0%, recorded 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

In 2021, the average base metal hook export price amounted to $X per ton, picking up by 29% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the average export price increased by 67%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+16.2%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Hook Imports

Imports into Croatia

In 2021, base metal hook imports into Croatia shrank modestly to X tons, with a decrease of -1.7% against the previous year's figure. Overall, imports saw a slight reduction. The growth pace was the most rapid in 2017 when imports increased by 70% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, base metal hook imports reduced to $X in 2021. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 52% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of base metal hook to Croatia, with a 47% share of total imports. Moreover, base metal hook imports from Germany exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+6.1% per year) and Italy (-12.0% per year).

In value terms, Germany ($X) constituted the largest supplier of base metal hook to Croatia, comprising 60% of total imports. The second position in the ranking was held by Austria ($X), with a 13% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-11.5% per year) and Italy (-10.1% per year).

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2021, which is down by -12.2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 22%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Austria ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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