The propylene glycol market in Croatia, between 2012 and 2022, experienced fluctuations, with the market reaching its peak in 2014 at 2.4564 million kilograms. Following a downward trend, the market size reduced to 1.9806 million kilograms by 2022. The most significant decline occurred between 2018 and 2019, with a year-on-year decrease of 7.02%. Five-year CAGR reflects an average annual decrease of 2.4% up to 2022, indicating a persistently declining market over recent years.
- Propylene glycol volume peaked in 2014.
- Substantial decline observed from 2018 onwards.
- Year-on-year variation displayed volatility with both growth and decline periods.
Going forward, it is crucial to monitor potential economic recovery, regulatory changes, and shifts towards eco-friendly alternatives, which may influence the propylene glycol market trajectory. Emerging industrial applications and advancements in manufacturing technologies could also impact market dynamics and growth in the foreseeable future.
