Hungary: Metal Bath Market 2024

Metal Bath Market Size in Hungary

In 2021, the Hungarian metal bath market decreased by -23.6% to $X, falling for the third year in a row after seven years of growth. Overall, consumption, however, saw buoyant growth. Metal bath consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Metal Bath Exports

Exports from Hungary

Metal bath exports from Hungary shrank notably to X tons in 2021, which is down by -28.5% compared with the previous year's figure. Over the period under review, exports showed a pronounced setback. The most prominent rate of growth was recorded in 2015 with an increase of 169%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, metal bath exports surged to $X in 2021. Overall, exports, however, recorded a moderate increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for metal bath exports from Hungary, with a 107% share of total exports. Moreover, metal bath exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), more than tenfold. Norway (X tons) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Norway (+13.0% per year).

In value terms, the United States ($X) remains the key foreign market for baths of iron or steel exports from Hungary, comprising 59% of total exports. The second position in the ranking was held by the UK ($X), with a 14% share of total exports. It was followed by South Korea, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and South Korea (+563.4% per year).

Export Prices by Country

In 2021, the average metal bath export price amounted to $X per ton, growing by 175% against the previous year. Over the period under review, the export price showed a resilient increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 223%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Slovakia ($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 South Korea (+57.2%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Bath Imports

Imports into Hungary

In 2021, purchases abroad of baths of iron or steel decreased by -19.9% to X tons, falling for the third consecutive year after seven years of growth. In general, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2013 when imports increased by 135% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, metal bath imports reduced rapidly to $X in 2021. Over the period under review, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -32.6% against 2018 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 27% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

The Czech Republic (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of metal bath imports to Hungary, with a combined 88% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +16.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) constituted the largest supplier of baths of iron or steel to Hungary, comprising 63% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 23% share of total imports. It was followed by Italy, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+12.2% per year) and Italy (-3.1% per year).

Import Prices by Country

In 2021, the average metal bath import price amounted to $X per ton, falling by -13.8% against the previous year. Overall, the import price saw a pronounced contraction. The pace of growth was the most pronounced in 2020 an increase of 196% against the previous year. Over the period under review, average import prices reached the maximum 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 Italy ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+10.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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