PU in primary forms market in Bosnia and Herzegovina

Earlier Report Observations

The market volume for polyurethanes in primary forms in Bosnia and Herzegovina showed notable volatility between 2021 and 2024. After reaching 5 907 t in 2021, the market contracted by 12% to 5 184 t in 2022. A sharp recovery of 17% followed in 2023, lifting volume to 6 060 t, before growth moderated to 3% in 2024, stabilizing the market at 6 221 t.

Market volume movements largely mirrored shifts in domestic production, which fell by 14% to 3 716 t in 2022 before surging 28% to 4 752 t in 2023. Imports, representing a substantial share of supply, also fluctuated, declining from 1 617 t in 2021 to 1 356 t in 2023 before partially recovering to 1 516 t in 2024. Exports remained negligible throughout the period, never exceeding 50 t annually.

In value terms, the market followed a different trajectory, declining from 23.6 million USD in 2021 to 19.4 million USD in 2022. It saw a slight increase to 20.0 million USD in 2023 before contracting again to 18.8 million USD in 2024, suggesting changes in prices or consumption structure, as the physical volume in 2024 was higher than in 2021 yet commanded a lower total value.

Production PU in primary forms 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 PU in primary forms from Bosnia and Herzegovina

Exports in kind, t

The market exhibited volatility during the observed period. Exports reached their lowest point in 2020 at 6 tonnes, marking a significant decline of 51.5%. However, they peaked in 2018, showing a threefold difference between these years. In 2021, Bosnia and Herzegovina exported 15 tonnes of PU in primary forms, representing a dramatic increase of 143.2% compared to 2020.

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

From 2018 to 2021, the leading destinations for Bosnia and Herzegovina's exports of PU in primary forms in kind were Croatia, Serbia, and Slovenia. Croatia accounted for 27.0% of exports, Serbia for 19.9%, and Slovenia for 17.0%. Together, these three countries made up 63.9% of total export 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 data indicates a volatile market environment with irregular changes. Exports in value terms hit their lowest point in 2020 at 34 000 US dollars, with a decline of 50.8%. They then peaked in 2021, showing a 2.9-fold variation between these years. In 2021, deliveries of PU in primary forms from Bosnia and Herzegovina amounted to 99 000 US dollars, which is 192.3% higher than the previous year.

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

Between 2018 and 2021, the main buyers of PU in primary forms from Bosnia and Herzegovina in value terms were Croatia, Italy, and Serbia. Croatia represented 25.5% of exports, Italy 15.7%, and Serbia 14.9%. Collectively, these three countries accounted for 56.2% of total export value.

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 PU in primary forms to Bosnia and Herzegovina

Imports in kind, t

Imports of PU in primary forms into Bosnia and Herzegovina increased for the second consecutive year. In 2021, the country imported 1 617 tonnes, reflecting a 19.4% rise from the previous year. Over the period from 2018 to 2021, imports grew by 4.4%, with a compound annual growth rate of 1.4%. The lowest import volume was recorded in 2019 at 1 279 tonnes, which saw the largest decline of 17.4%.

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

From 2018 to 2021, the primary suppliers of PU in primary forms to Bosnia and Herzegovina in kind were Italy, Turkey, and Germany. Italy contributed 39.5% of imports, Turkey 18.6%, and Germany 15.4%. Together, these three countries accounted for 73.5% of total imports in kind.

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

Cross-border shipments of PU in primary forms into Bosnia and Herzegovina rose for the second year in a row. In 2021, imports reached 6 331 000 US dollars, showing a 29.0% improvement from the year before. Between 2018 and 2021, imports increased by 3.3%, equivalent to an annualized rate of 1.1%. The minimum value was recorded in 2019 at 4 614 000 US dollars, with the largest decline of 24.7% occurring that year.

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

During 2018 to 2021, three key markets—Italy, Germany, and Turkey—collectively represented 72.5% of the total import value of PU in primary forms into Bosnia and Herzegovina.

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