Hungary: Acetone Market 2024

Acetone Market Size in Hungary

For the third consecutive year, the Hungarian acetone market recorded growth in sales value, which increased by 65% to $X in 2021. In general, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +54.5% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Acetone Production in Hungary

In value terms, acetone production skyrocketed to $X in 2021 estimated in export price. Overall, production recorded a slight reduction. The growth pace was the most rapid in 2016 when the production volume increased by 82% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Acetone Exports

Exports from Hungary

In 2021, approx. X tons of acetone were exported from Hungary; waning by -54.7% on the previous year's figure. In general, exports, however, showed resilient growth. The growth pace was the most rapid in 2015 when exports increased by 406%. The exports peaked at X tons in 2020, and then reduced sharply in the following year.

In value terms, acetone exports dropped sharply to $X in 2021. Overall, exports, however, posted a prominent increase. The growth pace was the most rapid in 2020 with an increase of 365%. As a result, the exports reached the peak of $X, and then fell sharply in the following year.

Exports by Country

Romania (X tons), Serbia (X tons) and Slovakia (X tons) were the main destinations of acetone exports from Hungary, together comprising 100% of total exports.

From 2012 to 2021, the biggest increases were recorded for Serbia (with a CAGR of +20.3%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Romania ($X), Serbia ($X) and Slovakia ($X) constituted the largest markets for acetone exported from Hungary worldwide, with a combined 99% share of total exports.

Romania, with a CAGR of +22.1%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average acetone export price amounted to $X per ton, jumping by 60% against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 90%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Acetone Imports

Imports into Hungary

In 2021, imports of acetone into Hungary reached X tons, growing by 13% against the year before. The total import volume increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 25% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, acetone imports skyrocketed to $X in 2021. In general, imports showed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Poland (X tons) and the Netherlands (X tons) were the main suppliers of acetone imports to Hungary, with a combined 95% share of total imports. These countries were followed by Slovenia, Austria and Belgium, which together accounted for a further 2.8%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +107.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of acetone to Hungary, comprising 60% of total imports. The second position in the ranking was taken by Poland ($X), with a 29% share of total imports. It was followed by the Netherlands, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+3.7% per year) and the Netherlands (+33.2% per year).

Import Prices by Country

The average acetone import price stood at $X per ton in 2021, growing by 63% against the previous year. Over the period under review, the import price enjoyed a notable expansion. The pace of growth was the most pronounced in 2017 an increase of 66%. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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