Serbia: Toluene Market 2024

Toluene Market Size in Serbia

In 2022, the Serbian toluene market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Toluene Production in Serbia

In value terms, toluene production reduced modestly to $X in 2022 estimated in export price. The total output value 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 2017 when the production volume increased by X%. Toluene production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Toluene Exports

Exports from Serbia

In 2022, approx. X tons of toluene were exported from Serbia; falling by X% against the year before. In general, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by X,833%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, toluene exports contracted to $X in 2022. Overall, exports, however, showed a significant expansion. The growth pace was the most rapid in 2013 with an increase of X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons), Hungary (X tons) and Poland (X tons) were the main destinations of toluene exports from Serbia, with a combined X% share of total exports. Bulgaria lagged somewhat behind, accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bulgaria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Hungary ($X) and Poland ($X) constituted the largest markets for toluene exported from Serbia worldwide, together accounting for X% of total exports. These countries were followed by Bulgaria, which accounted for a further X%.

In terms of the main countries of destination, Bulgaria, with a CAGR of X%, saw 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 2022, the average toluene export price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price, however, faced a drastic downturn. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Poland ($X per ton) and Bulgaria ($X per ton), while the average price for exports to Hungary ($X per ton) and Romania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Toluene Imports

Imports into Serbia

In 2022, imports of toluene into Serbia declined dramatically to X tons, waning by X% against the previous year's figure. Overall, imports continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, toluene imports shrank notably to $X in 2022. In general, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

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

From 2012 to 2022, the average annual growth rate of volume from Slovakia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Slovenia (X% per year).

In value terms, Slovakia ($X) constituted the largest supplier of toluene to Serbia, comprising X% of total imports. The second position in the ranking was held by Russia ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Slovakia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Slovenia (X% per year).

Import Prices by Country

The average toluene import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Slovenia ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :