Hungary: Cork Article Market 2024

Cork Article Market Size in Hungary

In 2021, the Hungarian cork article market was finally on the rise to reach $X after two years of decline. Overall, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -16.9% against 2018 indices. Cork article consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cork Article Production in Hungary

In value terms, cork article production surged to $X in 2021 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -18.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 38% against the previous year. Cork article production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Cork Article Exports

Exports from Hungary

In 2021, shipments abroad of cork articles increased by 6.9% to X tons, rising for the third consecutive year after two years of decline. In general, exports showed a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 165% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, cork article exports skyrocketed to $X in 2021. Over the period under review, exports posted prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 137% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Poland (X tons), Romania (X tons) and Slovakia (X tons) were the main destinations of cork article exports from Hungary, together accounting for 79% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +202.8%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Poland ($X) and Germany ($X) appeared to be the largest markets for cork article exported from Hungary worldwide, with a combined 75% share of total exports.

Poland, with a CAGR of +201.6%, 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 more modest paces of growth.

Export Prices by Country

The average cork article export price stood at $X per ton in 2021, increasing by 12% against the previous year. In general, the export price saw moderate growth. The growth pace was the most rapid in 2016 an increase of 68%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Serbia ($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 Ukraine (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cork Article Imports

Imports into Hungary

Cork article imports into Hungary shrank to X tons in 2021, reducing by -13.2% on the previous year's figure. Over the period under review, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of 55% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, cork article imports totaled $X in 2021. In general, imports showed a noticeable slump. The most prominent rate of growth was recorded in 2016 with an increase of 42% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Portugal (X tons) constituted the largest cork article supplier to Hungary, with a 66% share of total imports. Moreover, cork article imports from Portugal exceeded the figures recorded by the second-largest supplier, Poland (X tons), sixfold. The third position in this ranking was held by Germany (X tons), with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume from Portugal totaled -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+25.3% per year) and Germany (-10.0% per year).

In value terms, Portugal ($X) constituted the largest supplier of cork articles to Hungary, comprising 65% of total imports. The second position in the ranking was held by Germany ($X), with an 8.6% share of total imports. It was followed by Austria, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value from Portugal totaled -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-8.7% per year) and Austria (+0.2% per year).

Import Prices by Country

In 2021, the average cork article import price amounted to $X per ton, picking up by 26% against the previous year. In general, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cork article import price decreased by -18.3% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 39%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malta (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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