Hungary: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Hungary

The Hungarian asphalt or bitumen article market surged to $X in 2022, with an increase of 18% against the previous year. Overall, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +135.7% against 2016 indices. Asphalt or bitumen article consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Production of Asphalt or Bitumen Articles in Hungary

In value terms, asphalt or bitumen article production fell dramatically to $X in 2022 estimated in export price. Overall, production showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 103%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports from Hungary

After two years of decline, shipments abroad of asphalt or bitumen articles increased by 83% to X tons in 2022. Overall, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, asphalt or bitumen article exports surged to $X in 2022. In general, exports, however, showed a deep downturn. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Slovakia (X tons) was the main destination for asphalt or bitumen article exports from Hungary, with a 94% share of total exports. Moreover, asphalt or bitumen article exports to Slovakia exceeded the volume sent to the second major destination, Romania (X tons), more than tenfold. The third position in this ranking was held by Poland (X tons), with a 0.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Slovakia stood at +28.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+8.3% per year) and Poland (-30.1% per year).

In value terms, Slovakia ($X) remains the key foreign market for asphalt or bitumen articles exports from Hungary, comprising 88% of total exports. The second position in the ranking was taken by Romania ($X), with a 5.1% share of total exports. It was followed by Poland, with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovakia totaled +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+6.3% per year) and Poland (-30.4% per year).

Export Prices by Country

The average asphalt or bitumen article export price stood at $X per ton in 2022, shrinking by -13.8% against the previous year. Over the period under review, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2013 when the average export price increased by 21%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1.5%), while the prices for the other major destinations experienced a decline.

Imports of Asphalt or Bitumen Articles

Imports into Hungary

In 2022, purchases abroad of asphalt or bitumen articles increased by 34% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 127% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, asphalt or bitumen article imports skyrocketed to $X in 2022. Overall, imports showed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Austria (X tons) and Slovakia (X tons) were the main suppliers of asphalt or bitumen article imports to Hungary, together accounting for 76% of total imports. The Czech Republic, Poland, Germany, Lithuania and Russia lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +32.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of asphalt or bitumen articles to Hungary, comprising 43% of total imports. The second position in the ranking was taken by Austria ($X), with a 21% share of total imports. It was followed by Slovakia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+11.0% per year) and Slovakia (+2.5% per year).

Import Prices by Country

In 2022, the average asphalt or bitumen article import price amounted to $X per ton, growing by 2.6% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 266% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Poland ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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