Amino-resins, phenolic resins and PU market in Bosnia and Herzegovina

Earlier Report Observations

Between 2018 and 2024, Bosnia and Herzegovina's market for amino-resins, phenolic resins, and polyurethanes expanded in volume, driven primarily by rising imports. Import volumes grew consistently from 9 241 t in 2018 to 14 283 t in 2024, fueling an increase in total market size from 16 095 t in 2021 to 18 970 t in 2024. This trend highlights the country's growing reliance on imported primary forms of these chemical resins to meet domestic demand.

Market developments during this period occurred alongside shifting consumer and regulatory landscapes. A 2021 study indicated a growing consumer preference for sustainable products within Bosnia and Herzegovina, a factor that can stimulate demand for eco-friendly material variants. Furthermore, significant waste management challenges were noted in 2022, with nearly all municipal waste being landfilled, a context that often precedes stricter regulations affecting the production, use, and disposal of plastics and synthetic resins.

Domestic production volumes fluctuated between 3 716 t and 4 752 t from 2021 to 2024, while the market's value demonstrated volatility, peaking at $47.5 million in 2022 before adjusting. The monetary value of imports saw a substantial rise, reaching nearly $34 million in 2022, reflecting both volume increases and changing global price dynamics for these materials.

Production amino-resins, phenolic resins and PU in Bosnia and Herzegovina

In value, 2018-2021, K $ US

Annual dynamics of production in Bosnia and Herzegovina in value, 2018-2021, K $ US

In kind, 2018-2021, t

Annual dynamics of production in Bosnia and Herzegovina in kind, 2018-2021, t

Exports amino-resins, phenolic resins and PU from Bosnia and Herzegovina

Exports in kind, t

The market demonstrated volatility during the observed period. Exports reached their lowest point in 2020, with the highest volume recorded in 2021, showing a fivefold difference between these years. In 2021, Bosnia and Herzegovina's exports of amino-resins, phenolic resins, and PU reached 63 tons, marking a sharp increase of 401.6% compared to 2020. The minimum value was 13 tons in 2020, which also saw the largest decline of 26.7%.

Annual dynamics of product's exports from Bosnia and Herzegovina in kind, 2018-2021, t

From 2018 to 2021, Montenegro (39.2% of exports in kind), Slovenia (17.3% of exports in kind), and Serbia (14.0% of exports in kind) were the primary markets for Bosnia and Herzegovina's exports of amino-resins, phenolic resins, and PU, collectively accounting for 70.5% of total flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Bosnia and Herzegovina in kind, 2018-2021

Exports in value, K $ US

The market showed an unstable trend over the timeframe. Export volumes varied 2.7 times, with the low in 2020 and the high in 2021. In 2021, cross-border shipments of amino-resins, phenolic resins, and PU from Bosnia and Herzegovina reached 188 000 US dollars, representing a significant improvement of 169.7% compared to 2020. The minimum value was 70 000 US dollars in 2020, which also experienced the largest decline of 19.9%.

Annual dynamics of product's exports from Bosnia and Herzegovina in value, 2018-2021, K $ US

Throughout 2018–2021, the three largest markets—Montenegro, Slovenia, and Croatia—dominated exports in value terms, together accounting for 64.9% of total flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Bosnia and Herzegovina in value, 2018-2021

Imports amino-resins, phenolic resins and PU to Bosnia and Herzegovina

Imports in kind, t

Amino-resins, phenolic resins, and PU shipments to Bosnia and Herzegovina from abroad increased for the third consecutive year. In 2021, Bosnia and Herzegovina imported 11 853 tons of these products, reflecting a 12.0% improvement over the previous year. Between 2018 and 2021, imports grew by 28.3%, equivalent to an annualized rate of 8.7%.

Annual dynamics of product's imports to Bosnia and Herzegovina in kind, 2018-2021, t

From 2018 to 2021, Belgium (28.2% of imports in kind), the Netherlands (22.7% of imports in kind), and Hungary (20.1% of imports in kind) were the main sources for imports in kind, together making up 71.1% of total flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Bosnia and Herzegovina in kind, 2018-2021

Imports in value, K $ US

Volatility characterized the market during these years. Import volumes varied 1.9 times, with the low in 2019 and the high in 2021. In 2021, the volume of amino-resins, phenolic resins, and PU imports to Bosnia and Herzegovina totaled 29 957 000 US dollars, representing a 70.8% year-over-year increase. The minimum value was 16 179 000 US dollars in 2019, which also saw the largest decline of 21.8%.

Annual dynamics of product's imports to Bosnia and Herzegovina in value, 2018-2021, K $ US

Over 2018–2021, Belgium (29.5% of imports in value terms), the Netherlands (22.2% of imports in value terms), and Slovenia (10.7% of imports in value terms) remained the leading destinations in the import structure by value, with a combined share of 62.4% of total flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Bosnia and Herzegovina in value, 2018-2021