Hungary: Iron Angle Market 2024

Iron Angle Market Size in Hungary

After two years of decline, the Hungarian iron angle market increased by 19% to $X in 2021. The market value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Iron Angle Exports

Exports from Hungary

In 2021, shipments abroad of angles, shapes and sections (of iron or non-alloy steel) decreased by -17.2% to X tons, falling for the second year in a row after six years of growth. In general, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2015 when exports increased by 35%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, iron angle exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of 43% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Slovakia (X tons) was the main destination for iron angle exports from Hungary, with a 79% share of total exports. Moreover, iron angle exports to Slovakia exceeded the volume sent to the second major destination, Croatia (X tons), more than tenfold. Serbia (X tons) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume to Slovakia stood at +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (-7.4% per year) and Serbia (+8.2% per year).

In value terms, Slovakia ($X) remains the key foreign market for angles, shapes and sections (of iron or non-alloy steel) exports from Hungary, comprising 77% of total exports. The second position in the ranking was taken by Croatia ($X), with a 6.8% share of total exports. It was followed by Serbia, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value to Slovakia amounted to +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (-5.6% per year) and Serbia (+9.8% per year).

Export Prices by Country

In 2021, the average iron angle export price amounted to $X per ton, rising by 60% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Slovenia ($X per ton) and Romania ($X per ton), while the average price for exports to Slovakia ($X per ton) and Croatia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Angle Imports

Imports into Hungary

In 2021, overseas purchases of angles, shapes and sections (of iron or non-alloy steel) decreased by -7.6% to X tons, falling for the third year in a row after three years of growth. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 18%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, iron angle imports surged to $X in 2021. In general, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 Italy (X tons) were the main suppliers of iron angle imports to Hungary, with a combined 67% share of total imports. Romania, Austria, Luxembourg, Spain, the Czech Republic and Slovakia lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +25.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and Italy ($X) were the largest iron angle suppliers to Hungary, together comprising 66% of total imports. Romania, Austria, Luxembourg, Spain, the Czech Republic and Slovakia lagged somewhat behind, together accounting for a further 32%.

Romania, with a CAGR of +31.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average iron angle import price stood at $X per ton in 2021, rising by 47% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Austria ($X per ton) and Spain ($X per ton), while the price for the Czech Republic ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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