Oxidation inhibitors, viscosity improvers, anti-corrosives market in Croatia

Earlier Report Observations

The market for oxidation inhibitors, viscosity improvers, and anti-corrosives in Croatia showed considerable fluctuation from 2018 to 2024. Starting at 5.0 million USD in 2018, market size rose to a high of 10.8 million USD in 2021, then fell back to 4.4 million USD by the end of the period.

This pattern was closely tied to domestic production, which expanded rapidly to 9.0 million USD in 2021 before contracting sharply to 1.7 million USD in 2024. Meanwhile, imports recovered after initial declines, growing from 2.2 million USD in 2020 to 4.9 million USD in 2024, while exports also increased, particularly in 2023.

The net result was a market that grew heavily on production strength in 2021, then shrank as output dropped, even as imports rose to partly fill the gap. By 2024, the market volume stabilized slightly above the 2023 level.

Production oxidation inhibitors, viscosity improvers, anti-corrosives in Croatia

In value, 2017-2020, K $ US

Croatia's production of oxidation inhibitors, viscosity improvers, and anti-corrosives has grown for the third year in a row. In 2020, output was valued at 5 401 thousand US dollars, marking a 2.8% increase from 2019. From 2017 to 2020, production surged by 189.9%, which translates to an average annual growth rate of 42.6%.

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

In kind, 2017-2020, t

Croatia's production of oxidation inhibitors, viscosity improvers, and anti-corrosives has increased for the third consecutive year. In 2020, the country produced 37 000 tonnes, showing a strong 13.1% rise compared to the previous year. Between 2017 and 2020, production jumped by 377.3%, with a compound annual growth rate of 68.4%.

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

Exports oxidation inhibitors, viscosity improvers, anti-corrosives from Croatia

Exports in kind, t

The market showed significant volatility during this period. Export volumes hit their lowest point in 2017 and peaked in 2020, with a 3.3-fold difference between these extremes. In 2020, Croatia exported 171.4 tonnes of oxidation inhibitors, viscosity improvers, and anti-corrosives, representing a sharp 28.8% year-on-year increase. The largest decline occurred in 2019 at 5.6%, while the biggest rise was in 2018 at 170.4%.

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

From 2017 to 2020, North Macedonia, Bosnia and Herzegovina, and Slovenia consistently led as the top destinations for Croatia's exports in kind. North Macedonia accounted for 56.7% of exports, Bosnia and Herzegovina for 13.9%, and Slovenia for 13.5%. Together, these three countries made up 84.0% of total export 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

The data shows irregular fluctuations, pointing to a volatile market. Exports reached their lowest point in 2017 and peaked in 2019, with a 4.8-fold swing between these years. In 2020, the value of exported oxidation inhibitors, viscosity improvers, and anti-corrosives from Croatia was 1 084 thousand US dollars, down 7.4% from 2019. The highest value was recorded in 2019 at 1 171 thousand US dollars, while the largest increase was in 2018 at 302.7%.

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

Between 2017 and 2020, North Macedonia, Bosnia and Herzegovina, and Serbia were the largest buyers of oxidation inhibitors, viscosity improvers, and anti-corrosives from Croatia in value terms. North Macedonia made up 56.9% of exports, Bosnia and Herzegovina 16.4%, and Serbia 9.0%. Combined, these three countries represented 82.3% of total export value.

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

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

Imports oxidation inhibitors, viscosity improvers, anti-corrosives to Croatia

Imports in kind, t

The market displayed an unstable trend over these years. Import volumes were at their lowest in 2017 and peaked in 2018, with a two-fold difference. In 2020, Croatia imported 734.0 tonnes of oxidation inhibitors, viscosity improvers, and anti-corrosives, a 7.0% decrease from 2019. The highest volume was in 2018 at 988.9 tonnes, with the largest decline in 2019 at 20.2% and the biggest increase in 2018 at 96.8%.

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

Throughout 2017 to 2020, Hungary, Belgium, and Slovenia were the key sources for Croatia's imports in kind. Hungary contributed 27.2% of imports, Belgium 20.0%, and Slovenia 13.5%. Together, these three countries accounted for 60.7% of total import 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

Volatility defined the market during this period. Imports were at their lowest in 2017 and peaked in 2018, changing by a factor of 1.8. In 2020, Croatia imported approximately 2 192 thousand US dollars worth of oxidation inhibitors, viscosity improvers, and anti-corrosives, down 15.4% from 2019. The maximum value was in 2018 at 2 882 thousand US dollars, with the largest increase also in 2018 at 81.3%.

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

From 2017 to 2020, Hungary, Belgium, and Germany topped the list of suppliers of oxidation inhibitors, viscosity improvers, and anti-corrosives to Croatia in value terms. Hungary accounted for 24.5% of imports, Belgium for 23.7%, and Germany for 13.2%. Their combined share reached 61.5% of total import value.

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

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