Serbia: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Serbia

In 2022, the Serbian aqueous paint and varnish market increased by X% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, posted prominent growth. Aqueous paint and varnish consumption peaked in 2022 and is likely to see gradual growth in the near future.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Serbia

In value terms, aqueous paint and varnish production rose remarkably to $X in 2022 estimated in export price. In general, production, however, continues to indicate a buoyant increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Aqueous paint and varnish production peaked in 2022 and is expected to retain growth in years to come.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports from Serbia

Aqueous paint and varnish exports from Serbia dropped slightly to X tons in 2022, flattening at the previous year's figure. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, aqueous paint and varnish exports expanded notably to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for aqueous paint and varnish exports from Serbia, with a X% share of total exports. Moreover, aqueous paint and varnish exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, North Macedonia (X tons), fourfold. The third position in this ranking was held by Croatia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Bosnia and Herzegovina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (X% per year) and Croatia (X% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by North Macedonia ($X), with a X% share of total exports. It was followed by Montenegro, with a X% share.

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

Export Prices by Country

In 2022, the average aqueous paint and varnish export price amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained 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 Montenegro ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 Montenegro (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports into Serbia

In 2022, aqueous paint and varnish imports into Serbia reduced to X tons, with a decrease of X% against 2021 figures. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, aqueous paint and varnish imports totaled $X in 2022. In general, total imports indicated a notable 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. Based on 2022 figures, imports increased by X% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

The UK (X tons), Greece (X tons) and Italy (X tons) were the main suppliers of aqueous paint and varnish imports to Serbia, together accounting for X% of total imports. Germany, the Netherlands, Croatia, Slovenia, Poland and Austria lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest aqueous paint and varnish suppliers to Serbia were the UK ($X), Italy ($X) and Germany ($X), together accounting for X% of total imports.

Among the main suppliers, Germany, with a CAGR of X%, recorded 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

In 2022, the average aqueous paint and varnish import price amounted to $X per ton, picking up by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 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 Austria ($X per ton), while the price for Croatia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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