Hungary: Articles Of Peat Market 2024

Articles Of Peat Market Size in Hungary

The Hungarian articles of peat market totaled $X in 2022, growing by 3.9% against the previous year. In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.9% against 2020 indices. Articles of peat consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Articles Of Peat Production in Hungary

In value terms, articles of peat production rose slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.5% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 47%. Articles of peat production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Articles Of Peat Exports

Exports from Hungary

In 2022, shipments abroad of articles of peat increased by 18,980% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, faced a dramatic setback. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, articles of peat exports skyrocketed to $X in 2022. Overall, exports, however, recorded a dramatic decrease. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for articles of peat exports from Hungary, with a approx. 99% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to -21.1%.

From 2012 to 2022, the average annual growth rate of value to the United States stood at -13.7%.

Export Prices by Country

In 2022, the average articles of peat export price amounted to $X per ton, which is down by -97% against the previous year. In general, the export price, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 158%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then shrank notably in the following year.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Austria amounted to +50.5% per year.

Articles Of Peat Imports

Imports into Hungary

For the fourth year in a row, Hungary recorded growth in overseas purchases of articles of peat, which increased by 8% to X tons in 2022. In general, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +2.8% 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 +21.2% against 2017 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 67% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, articles of peat imports skyrocketed to $X in 2022. Overall, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 65% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), Denmark (X tons) and the Netherlands (X tons) were the main suppliers of articles of peat imports to Hungary, with a combined 93% share of total imports. The UK, Slovakia and Austria lagged somewhat behind, together accounting for a further 6.8%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +38.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Denmark ($X) and the Netherlands ($X) appeared to be the largest articles of peat suppliers to Hungary, with a combined 92% share of total imports.

The Netherlands, with a CAGR of +24.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average articles of peat import price amounted to $X per ton, rising by 25% against the previous year. In general, the import price saw a strong expansion. The most prominent rate of growth was recorded in 2016 an increase of 70%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 Slovakia ($X per ton), while the price for the UK ($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 (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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