Hungary: Ammonia Market 2024

Ammonia Market Size in Hungary

The Hungarian ammonia market shrank slightly to $X in 2022, dropping by -2.5% against the previous year. Over the period under review, consumption recorded a perceptible curtailment. Ammonia consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Ammonia Production in Hungary

In value terms, ammonia production reached $X in 2022 estimated in export price. In general, production showed a perceptible decline. The most prominent rate of growth was recorded in 2017 with an increase of 13%. Ammonia production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Ammonia Exports

Exports from Hungary

In 2022, approx. X tons of anhydrous ammonia were exported from Hungary; with an increase of 65% compared with 2021. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by 266% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, ammonia exports surged to $X in 2022. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 238%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The Czech Republic (X tons) was the main destination for ammonia exports from Hungary, accounting for a 62% share of total exports. Moreover, ammonia exports to the Czech Republic exceeded the volume sent to the second major destination, Italy (X tons), twofold. Poland (X tons) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Czech Republic amounted to +19.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+57.6% per year) and Poland (+65.9% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for anhydrous ammonia exports from Hungary, comprising 57% of total exports. The second position in the ranking was taken by Italy ($X), with a 28% share of total exports. It was followed by Poland, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value to the Czech Republic totaled +18.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+58.1% per year) and Poland (+59.9% per year).

Export Prices by Country

In 2022, the average ammonia export price amounted to $X per ton, rising by 9.5% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 72%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Poland ($X per ton) and Italy ($X per ton), while the average price for exports to Slovakia ($X per ton) and the Czech Republic ($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 Italy (+0.3%), while the prices for the other major destinations experienced a decline.

Ammonia Imports

Imports into Hungary

Ammonia imports into Hungary rose notably to X tons in 2022, increasing by 9.4% against the previous year. Overall, imports, however, continue to indicate a significant decrease. The pace of growth was the most pronounced in 2020 when imports increased by 217%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, ammonia imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2014 with an increase of 113%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest ammonia supplier to Hungary, accounting for a 61% share of total imports. Moreover, ammonia imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to -16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+37.1% per year) and Slovakia (-62.6% per year).

In value terms, Germany ($X) constituted the largest supplier of anhydrous ammonia to Hungary, comprising 72% of total imports. The second position in the ranking was taken by Belgium ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+27.7% per year) and Slovakia (-61.2% per year).

Import Prices by Country

In 2022, the average ammonia import price amounted to $X per ton, increasing by 66% against the previous year. In general, the import price enjoyed resilient growth. The pace of growth appeared the most rapid in 2021 when the average import price increased by 559% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 (+17.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :