Hungary: Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size in Hungary

In 2022, the Hungarian concrete reinforcing bar market increased by 50% to $X, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Concrete Reinforcing Bar Production in Hungary

In value terms, concrete reinforcing bar production rose significantly to $X in 2022 estimated in export price. In general, production posted a perceptible expansion. The pace of growth was the most pronounced in 2016 with an increase of 31% against the previous year. Concrete reinforcing bar production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Concrete Reinforcing Bar Exports

Exports from Hungary

After two years of growth, overseas shipments of concrete reinforcing bars decreased by -13.2% to X tons in 2022. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +1.9% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 36% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, concrete reinforcing bar exports expanded to $X in 2022. In general, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2021 when exports increased by 83%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Poland (X tons), Austria (X tons) and Slovakia (X tons) were the main destinations of concrete reinforcing bar exports from Hungary, together comprising 83% of total exports. The Czech Republic, Romania and Germany lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +33.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Austria ($X) and Slovakia ($X) constituted the largest markets for concrete reinforcing bar exported from Hungary worldwide, with a combined 83% share of total exports. The Czech Republic, Romania and Germany lagged somewhat behind, together accounting for a further 16%.

Among the main countries of destination, the Czech Republic, with a CAGR of +38.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average concrete reinforcing bar export price amounted to $X per ton, growing by 19% against the previous year. Over the period under review, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar export price increased by +85.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 55%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Slovakia ($X per ton) and the Czech Republic ($X per ton), while the average price for exports to Austria ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Concrete Reinforcing Bar Imports

Imports into Hungary

In 2022, supplies from abroad of concrete reinforcing bars increased by 18% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw strong growth. The growth pace was the most rapid in 2015 with an increase of 49% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, concrete reinforcing bar imports surged to $X in 2022. Over the period under review, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of 101% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Italy (X tons), Austria (X tons) and Serbia (X tons) were the main suppliers of concrete reinforcing bar imports to Hungary, together comprising 60% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Serbia (with a CAGR of +404.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Austria ($X) and Serbia ($X) constituted the largest concrete reinforcing bar suppliers to Hungary, together comprising 57% of total imports.

Serbia, with a CAGR of +475.6%, saw the highest rates of growth with regard to 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

In 2022, the average concrete reinforcing bar import price amounted to $X per ton, with an increase of 16% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar import price increased by +74.6% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 50% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and the Czech Republic ($X per ton), while the price for Serbia ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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