PU in primary forms market in Croatia

Earlier Report Observations

The Croatian polyurethane market in primary forms saw its volume increase from 3 843 t in 2018 to a peak of 4 078 t in 2022. This growth was not linear, with a slight dip in 2020 followed by a rebound to over 4 000 t in 2021 and 2022. The market's value experienced sharper swings, notably a 26% surge to 16.2 million USD in 2021, indicating significant price increases during that period.

A pronounced contraction began in 2023, with market volume falling by 12% to 3 581 t and value dropping by 16% to 15.1 million USD. The decline continued into 2024, with volume reaching 3 506 t. The market is characterized as relatively small with minor volume fluctuations, operating within a global context where shifting export and import prices influenced trade dynamics.

Production PU in primary forms in Croatia

In value, 2017-2020, K $ US

Production of polyurethane in primary forms in Croatia declined for the second consecutive year. In 2020, output was valued at 1 109 thousand US dollars, representing a 2.0% decrease compared to 2019. Over the period from 2017 to 2020, production increased by 34.4%, which translates to an annualized growth rate of 10.3%. The highest production value was recorded in 2018 at 1 327 thousand US dollars, with the largest annual increase of 60.8% occurring that year. In contrast, the largest decline of 14.7% was observed in 2019.

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

In kind, 2017-2020, t

The market for polyurethane in primary forms in Croatia showed significant volatility during these years. Production peaked in 2018 at 554.0 tonnes and reached its lowest point in 2017, with a 1.8-fold difference between these two years. In 2020, production amounted to 438.0 tonnes, marking a gradual decrease of 8.6% compared to 2019. The largest annual increase of 75.3% was recorded in 2018, while the largest decline of 13.5% occurred in 2019.

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

Exports PU in primary forms from Croatia

Exports in kind, t

Exports of polyurethane in primary forms from Croatia increased for the second consecutive year. In 2020, exports totaled 221 tonnes, representing a rise of 14.6% compared to 2019. The lowest export volume was recorded in 2018 at 185 tonnes, with the largest annual decline of 15.6% occurring that year.

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

From 2017 to 2020, the primary destinations for Croatia's exports of polyurethane in primary forms were Bosnia and Herzegovina, Slovenia, and Serbia. Bosnia and Herzegovina accounted for 40.2% of exports in kind, Slovenia for 30.8%, and Serbia for 10.7%. Together, these three countries represented 81.7% of Croatia's total exports in kind during this period.

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

Croatia's exports of polyurethane in primary forms in value terms reached 922 thousand US dollars in 2020, showing a gradual uptick of 6.4% compared to 2019. Over the period from 2017 to 2020, exports increased by 5.3%, equating to an annualized growth rate of 1.8%. The lowest export value was recorded in 2019 at 866 thousand US dollars, with the largest annual decline of 1.1% occurring that year.

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

Throughout 2017 to 2020, Bosnia and Herzegovina, Slovenia, and Serbia remained the key partners for Croatia's exports of polyurethane in primary forms in value terms. Bosnia and Herzegovina accounted for 42.0% of exports, Slovenia for 25.8%, and Serbia for 10.6%. Collectively, these three countries represented 78.4% of Croatia's total export flows in value during this period.

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

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

Imports PU in primary forms to Croatia

Imports in kind, t

Imports of polyurethane in primary forms into Croatia increased for the second consecutive year. In 2020, imports totaled 3 636 tonnes, remaining virtually unchanged compared to 2019. The lowest import volume was recorded in 2018 at 3 474 tonnes, with the largest annual decline of 4.3% occurring that year. In contrast, the largest increase of 4.4% was observed in 2019.

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

From 2017 to 2020, Italy, Germany, and Romania were the main sources of imports of polyurethane in primary forms into Croatia. Italy accounted for 38.3% of imports in kind, Germany for 16.8%, and Romania for 9.0%. Together, these three countries formed 64.0% of Croatia's total import flows in kind during this period.

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

Imports of polyurethane in primary forms into Croatia declined for the second consecutive year. In 2020, imports reached 12 703 thousand US dollars, marking a limited reduction of 4.9% year-over-year. Over the period from 2017 to 2020, imports increased by 3.3%, with a compound annual growth rate of 1.1%. The highest import value was recorded in 2018 at 13 528 thousand US dollars, with the largest annual increase of 10.1% occurring that year.

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

From 2017 to 2020, Italy, Germany, and Romania continued to be the main suppliers of polyurethane in primary forms to Croatia in value terms. Italy accounted for 38.2% of imports, Germany for 18.8%, and Romania for 6.6%. Collectively, these three countries represented 63.6% of Croatia's total imports in value during this period.

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

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