Hungary: Aluminium Alloy Wire Market 2024

Aluminium Alloy Wire Market Size in Hungary

The Hungarian aluminium alloy wire market was finally on the rise to reach $X in 2022, after four years of decline. Overall, consumption, however, showed a noticeable slump. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Aluminium Alloy Wire Production in Hungary

In value terms, aluminium alloy wire production shrank to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2017 with an increase of 15%. Aluminium alloy wire production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Aluminium Alloy Wire Exports

Exports from Hungary

In 2022, the amount of aluminium alloy wire exported from Hungary reduced to X tons, waning by -11.5% compared with 2021. Over the period under review, exports recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 32%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, aluminium alloy wire exports rose remarkably to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 71% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Slovakia (X tons), Germany (X tons) and Austria (X tons) were the main destinations of aluminium alloy wire exports from Hungary, together comprising 44% of total exports. Italy, the Netherlands, the Czech Republic, Bosnia and Herzegovina, Sweden, Romania, Slovenia, Switzerland, North Macedonia and Belgium lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the biggest increases were recorded for North Macedonia (with a CAGR of +59.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Slovakia ($X) and Austria ($X) were the largest markets for aluminium alloy wire exported from Hungary worldwide, with a combined 43% share of total exports. The Netherlands, the Czech Republic, Italy, Sweden, Bosnia and Herzegovina, Switzerland, Romania, Slovenia, North Macedonia and Belgium lagged somewhat behind, together comprising a further 49%.

In terms of the main countries of destination, North Macedonia, with a CAGR of +69.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average aluminium alloy wire export price amounted to $X per ton, rising by 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.8%. The growth pace was the most rapid in 2021 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Switzerland ($X per ton) and Germany ($X per ton), while the average price for exports to Italy ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Alloy Wire Imports

Imports into Hungary

After two years of growth, overseas purchases of aluminium alloy wire decreased by -5.7% to X tons in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 64%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, aluminium alloy wire imports contracted dramatically to $X in 2022. Overall, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 139%. Imports peaked at $X in 2021, and then declined rapidly in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest aluminium alloy wire supplier to Hungary, with a 40% share of total imports. Moreover, aluminium alloy wire imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Italy (X tons) ranked third in terms of total imports with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+3.8% per year) and Italy (+4.6% per year).

In value terms, Germany ($X) constituted the largest supplier of aluminium alloy wire to Hungary, comprising 79% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 6.8% share of total imports. It was followed by Italy, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +31.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+7.4% per year) and Italy (+4.3% per year).

Import Prices by Country

In 2022, the average aluminium alloy wire import price amounted to $X per ton, waning by -23.8% against the previous year. In general, the import price, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2020 an increase of 95%. The import price peaked at $X per ton in 2021, and then plummeted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform