Hungary: Artificial Corundum Market 2024

Artificial Corundum Market Size in Hungary

The Hungarian artificial corundum market dropped sharply to $X in 2021, waning by -33.6% against the previous year. Over the period under review, consumption showed a abrupt setback. Artificial corundum consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Artificial Corundum Production in Hungary

In value terms, artificial corundum production expanded remarkably to $X in 2021 estimated in export price. In general, production, however, saw a pronounced contraction. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Artificial Corundum Exports

Exports from Hungary

After three years of decline, overseas shipments of artificial corundum increased by 25% to X tons in 2021. In general, exports, however, saw a slight decline. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, artificial corundum exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a mild setback. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for artificial corundum exports from Hungary, accounting for a 38% share of total exports. Moreover, artificial corundum exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), threefold. Poland (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-1.7% per year) and Poland (+3.8% per year).

In value terms, Germany ($X) remains the key foreign market for artificial corundum exports from Hungary, comprising 36% of total exports. The second position in the ranking was taken by Italy ($X), with an 11% share of total exports. It was followed by Poland, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-1.4% per year) and Poland (+2.5% per year).

Export Prices by Country

In 2021, the average artificial corundum export price amounted to $X per ton, surging by 3.7% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 12%. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; afterwards, it flattened through to 2021.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Austria ($X per ton) and the United States ($X per ton), while the average price for exports to Japan ($X per ton) and Germany ($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 the United States (+1.0%), while the prices for the other major destinations experienced more modest paces of growth.

Artificial Corundum Imports

Imports into Hungary

In 2021, overseas purchases of artificial corundum increased by 38% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2015 when imports increased by 131%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, artificial corundum imports skyrocketed to $X in 2021. In general, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 65% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest artificial corundum supplier to Hungary, with a 38% share of total imports. Moreover, artificial corundum imports from Russia exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia amounted to +53.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+8.9% per year) and Germany (-3.4% per year).

In value terms, Russia ($X), China ($X) and Austria ($X) were the largest artificial corundum suppliers to Hungary, together accounting for 66% of total imports.

Austria, with a CAGR of +55.1%, recorded the highest growth rate of 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 artificial corundum import price stood at $X per ton in 2021, almost unchanged from the previous year. Overall, the import price, however, recorded a mild setback. The pace of growth appeared the most rapid in 2018 when the average import price increased by 44% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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