Alkyd resins in primary forms market in Croatia

Earlier Report Observations

From 2018 to 2024, the Croatian market for alkyd resins in primary forms showed notable fluctuations. Market volume in physical terms peaked at 2 121 tons in 2019, followed by a sustained decline to 1 400 tons by 2022. In the subsequent two years, the market stabilized, with a modest recovery to 1 490 tons in 2024.

In monetary terms, the dynamics were less pronounced. Market value grew from USD 3.2 million in 2018 to USD 3.8 million in 2019, then fluctuated between USD 3.2 million and USD 3.6 million, reaching USD 3.6 million in 2024. This suggests that price changes or shifts in product mix partially offset the drop in physical volume.

A key driver of changes was the contraction in domestic production, which fell from around 6 000 tons in 2018 to under 3 000 tons by 2022, though it partially rebounded in 2023. Exports also declined, which increased resin availability on the domestic market in some years but overall contributed to a smaller total market volume.

Production alkyd resins in primary forms in Croatia

In value, 2017-2020, K $ US

Croatia's production of alkyd resins in primary forms declined for the second consecutive year. In 2020, output was valued at 7 676 K $ US, representing a measured reduction of 7.5% compared to the previous year. Over the period from 2017 to 2020, production decreased by 16.4%, which equates to an annualized rate of 5.8%. The highest value was recorded in 2018 at 9 524 K $ US. The largest decline occurred in 2019, with a drop of 12.9%, while the largest increase was in 2018 at 3.8%.

Annual dynamics of production in Croatia in value, 2017-2020, K $ US

In kind, 2017-2020, t

Croatia's production of alkyd resins in primary forms declined for the third consecutive year. In 2020, 5 248 t were produced, showing a moderate decline of 5.1% compared to the previous year. From 2017 to 2020, production decreased by 15.4%, with a compound annual growth rate (CAGR) of -5.4%.

Annual dynamics of production in Croatia in kind, 2017-2020, t

Exports alkyd resins in primary forms from Croatia

Exports in kind, t

Exports of alkyd resins in primary forms from Croatia declined for the third consecutive year. In 2020, exports stood at 3 762 t, indicating a modest decline of 8.2% year-over-year. Between 2017 and 2020, exports decreased by 20.1%, equating to an annualized rate of 7.2%.

Annual dynamics of product's exports from Croatia in kind, 2017-2020, t

From 2017 to 2020, Serbia, Poland, and Czechia formed the core of Croatia's exports in kind. Serbia accounted for 29.4% of exports, Poland for 16.3%, and Czechia for 13.3%, together representing 58.9% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Croatia in kind, 2017-2020

Exports in value, K $ US

Exports of alkyd resins in primary forms from Croatia declined for the second consecutive year. In 2020, exports amounted to 5 393 K $ US, which is 10.7% lower than in 2019. Over the period from 2017 to 2020, exports decreased by 21.9%, equating to an annualized rate of 7.9%. The highest value was recorded in 2018 at 7 359 K $ US. The largest decline occurred in 2019, with a drop of 17.9%, while the largest increase was in 2018 at 6.6%.

Annual dynamics of product's exports from Croatia in value, 2017-2020, K $ US

From 2017 to 2020, three main markets—Serbia, Poland, and Czechia—together absorbed 56.0% of Croatia's total exports in value terms for alkyd resins in primary forms.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Croatia in value, 2017-2020

Imports alkyd resins in primary forms to Croatia

Imports in kind, t

Croatia's imports of alkyd resins in primary forms showed noticeable fluctuations during the period. The minimum volume was recorded in 2018 at 402 t, while the maximum was in 2019 at 689 t, representing a 1.7-fold difference. In 2020, imports amounted to 414 t, down by 39.9% year-over-year. The largest increase occurred in 2019, with a rise of 71.2%.

Annual dynamics of product's imports to Croatia in kind, 2017-2020, t

From 2017 to 2020, Slovenia, Germany, and Bulgaria were the key partners for Croatia's imports in kind of alkyd resins in primary forms. Slovenia accounted for 44.5% of imports, Germany for 27.0%, and Bulgaria for 8.9%, jointly representing 80.4% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Croatia in kind, 2017-2020

Imports in value, K $ US

Croatia imported 947 K $ US of alkyd resins in primary forms in 2020, which is 37.2% lower than the previous year. Over the period from 2017 to 2020, imports decreased by 23.7%, with a compound annual growth rate (CAGR) of -8.6%. The highest value was recorded in 2019 at 1 508 K $ US, and the largest increase occurred in that same year at 46.5%.

Annual dynamics of product's imports to Croatia in value, 2017-2020, K $ US

From 2017 to 2020, Slovenia, Germany, and Italy continued to lead as the main suppliers of alkyd resins in primary forms to Croatia. Slovenia accounted for 43.1% of imports in value terms, Germany for 28.4%, and Italy for 7.1%, together taking 78.6% of total imports.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Croatia in value, 2017-2020