Hungary: Aluminium Market 2024

Aluminium Market Size in Hungary

In 2022, the Hungarian aluminium market increased by 15% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Aluminium Production in Hungary

In value terms, aluminium production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 127%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Aluminium Exports

Exports from Hungary

In 2021, aluminium exports from Hungary contracted sharply to X tons, declining by -93.4% against the year before. Overall, exports recorded a sharp setback. The most prominent rate of growth was recorded in 2016 with an increase of 166% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, aluminium exports contracted significantly to $X in 2021. In general, exports recorded a significant contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 148%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X tons) was the main destination for aluminium exports from Hungary, accounting for a 72% share of total exports. Moreover, aluminium exports to Poland exceeded the volume sent to the second major destination, Germany (X tons), fourfold. The Czech Republic (X tons) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume to Poland stood at -18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-32.1% per year) and the Czech Republic (-43.4% per year).

In value terms, Poland ($X) emerged as the key foreign market for aluminum (unwrought, not alloyed) exports from Hungary, comprising 61% of total exports. The second position in the ranking was taken by Germany ($X), with an 18% share of total exports. It was followed by the Czech Republic, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Poland stood at -15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-34.6% per year) and the Czech Republic (-38.6% per year).

Export Prices by Country

The average aluminium export price stood at $X per ton in 2021, dropping by -4.9% against the previous year. In general, the export price showed a slight curtailment. The pace of growth was the most pronounced in 2017 an increase of 19%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Poland ($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 the Czech Republic (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Imports

Imports into Hungary

In 2022, overseas purchases of aluminum (unwrought, not alloyed) increased by 2.7% to X tons, rising for the second year in a row after five years of decline. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 34% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, aluminium imports soared to $X in 2022. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +137.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 93% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of aluminium to Hungary, accounting for a 66% share of total imports. Moreover, aluminium imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. France (X tons) ranked third in terms of total imports with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands stood at +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+11.2% per year) and France (+284.9% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of aluminum (unwrought, not alloyed) to Hungary, comprising 67% of total imports. The second position in the ranking was taken by Italy ($X), with a 19% share of total imports. It was followed by France, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands amounted to +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+15.1% per year) and France (+259.5% per year).

Import Prices by Country

In 2022, the average aluminium import price amounted to $X per ton, with an increase of 20% against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium import price increased by +72.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 44%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Russia ($X per ton) and Montenegro ($X per ton), while the price for Belgium ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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