Hungary: Acrylonitrile Market 2024

Acrylonitrile Market Size in Hungary

In 2021, the Hungarian acrylonitrile market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption saw strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Acrylonitrile Exports

Exports from Hungary

For the seventh consecutive year, Hungary recorded decline in shipments abroad of acrylonitrile, which decreased by -2.3% to X tons in 2019. In general, exports recorded a deep contraction. The smallest decline of -1.1% was in 2017. The exports peaked at X tons in 2012; however, from 2013 to 2019, the exports remained at a lower figure.

In value terms, acrylonitrile exports reduced sharply to $X in 2019. Overall, exports showed a sharp reduction. The most prominent rate of growth was recorded in 2013 when exports increased by 0.8%. As a result, the exports attained the peak of $X. From 2014 to 2019, the growth of the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for acrylonitrile exports from Hungary, accounting for a 64% share of total exports. Moreover, acrylonitrile exports to the Netherlands exceeded the volume sent to the second major destination, Slovenia (X tons), twofold.

From 2012 to 2019, the average annual rate of growth in terms of volume to the Netherlands stood at +29.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (-23.4% per year) and Romania (-33.5% per year).

In value terms, Slovenia ($X), the Netherlands ($X) and Romania ($X) constituted the largest markets for acrylonitrile exported from Hungary worldwide.

The Netherlands, with a CAGR of +6.4%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2019, the average acrylonitrile export price amounted to $X per ton, with a decrease of -21.4% against the previous year. Overall, the export price faced a abrupt slump. The pace of growth appeared the most rapid in 2013 when the average export price increased by 6%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2019, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Romania (-0.1%), while the prices for the other major destinations experienced a decline.

Acrylonitrile Imports

Imports into Hungary

After two years of decline, purchases abroad of acrylonitrile increased by 37% to X tons in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 61%. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, acrylonitrile imports soared to $X in 2021. Over the period under review, imports showed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest acrylonitrile supplier to Hungary, accounting for a 65% share of total imports. Moreover, acrylonitrile imports from the Netherlands exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. Belarus (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands stood at +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1,086.4% per year) and Belarus (+1.7% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of acrylonitrile to Hungary, comprising 64% of total imports. The second position in the ranking was held by France ($X), with a 19% share of total imports. It was followed by Belarus, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands amounted to +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+951.9% per year) and Belarus (+8.2% per year).

Import Prices by Country

In 2021, the average acrylonitrile import price amounted to $X per ton, jumping by 48% against the previous year. In general, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Belarus ($X per ton) and Russia ($X per ton), while the price for the Netherlands ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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