Hungary: Blanket Market 2024

Blanket Market Size in Hungary

In 2022, the Hungarian blanket market decreased by -9.9% to $X, falling for the fourth year in a row after seven years of growth. Overall, consumption, however, continues to indicate temperate growth. Blanket consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Blanket Production in Hungary

In value terms, blanket production soared to $X in 2022 estimated in export price. Over the period under review, production saw a slight decrease. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Blanket Exports

Exports from Hungary

In 2022, shipments abroad of blankets and traveling rugs (except electric blankets) increased by 14% to X tons, rising for the fourth year in a row after two years of decline. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 170% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, blanket exports skyrocketed to $X in 2022. In general, exports posted significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 122%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

Romania (X tons) was the main destination for blanket exports from Hungary, accounting for a 37% share of total exports. Moreover, blanket exports to Romania exceeded the volume sent to the second major destination, Slovakia (X tons), twofold. The third position in this ranking was held by Serbia (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania stood at +62.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+37.4% per year) and Serbia (+22.7% per year).

In value terms, the largest markets for blanket exported from Hungary were Romania ($X), Slovakia ($X) and Serbia ($X), with a combined 60% share of total exports. Croatia, Bulgaria, Spain, Italy, Germany and Poland lagged somewhat behind, together comprising a further 30%.

Italy, with a CAGR of +124.8%, saw the highest rates of growth with regard to the value of exports, in terms of 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 blanket export price stood at $X per ton in 2022, picking up by 18% against the previous year. In general, the export price, however, saw a abrupt shrinkage. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Croatia ($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 Spain (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Blanket Imports

Imports into Hungary

In 2022, imports of blankets and traveling rugs (except electric blankets) into Hungary expanded slightly to X tons, increasing by 4.4% against 2021. In general, imports enjoyed significant growth. The pace of growth was the most pronounced in 2013 with an increase of 169% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, blanket imports surged to $X in 2022. Over the period under review, imports posted a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of blanket to Hungary, accounting for a 84% share of total imports. Moreover, blanket imports from China exceeded the figures recorded by the second-largest supplier, Poland (X tons), fourfold. Slovakia (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +40.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+14.3% per year) and Slovakia (+10.4% per year).

In value terms, China ($X) constituted the largest supplier of blankets and traveling rugs (except electric blankets) to Hungary, comprising 70% of total imports. The second position in the ranking was taken by Poland ($X), with a 10% share of total imports. It was followed by Germany, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +44.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+6.9% per year) and Germany (+4.2% per year).

Import Prices by Country

In 2022, the average blanket import price amounted to $X per ton, jumping by 45% against the previous year. Overall, the import price, however, showed a perceptible shrinkage. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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