Hungary: Copper Wire Market 2024

Copper Wire Market Size in Hungary

In 2021, the Hungarian copper wire market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Copper Wire Production in Hungary

In value terms, copper wire production rose slightly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a deep downturn. Copper wire production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Copper Wire Exports

Exports from Hungary

After two years of decline, shipments abroad of copper wire increased by 121% to X tons in 2021. Overall, exports showed a perceptible increase. The most prominent rate of growth was recorded in 2013 when exports increased by 414% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, copper wire exports soared to $X in 2021. In general, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 452%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons), Poland (X tons) and Slovakia (X tons) were the main destinations of copper wire exports from Hungary, with a combined 74% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +94.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and Slovakia ($X) were the largest markets for copper wire exported from Hungary worldwide, with a combined 69% share of total exports.

Poland, with a CAGR of +99.7%, recorded 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 copper wire export price stood at $X per ton in 2021, jumping by 17% against the previous year. Over the period under review, the export price showed measured growth. The pace of growth was the most pronounced in 2014 when the average export price increased by 130%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to the UK ($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 Slovakia (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports

Imports into Hungary

In 2021, overseas purchases of copper wire were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, copper wire imports soared to $X in 2021. Overall, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Italy (X tons) constituted the largest copper wire supplier to Hungary, with a 53% share of total imports. Moreover, copper wire imports from Italy exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Germany (X tons) ranked third in terms of total imports with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy stood at +53.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-7.9% per year) and Germany (-3.4% per year).

In value terms, Italy ($X) constituted the largest supplier of copper wire to Hungary, comprising 53% of total imports. The second position in the ranking was taken by Poland ($X), with a 21% share of total imports. It was followed by Germany, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy stood at +60.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-8.2% per year) and Germany (-2.3% per year).

Import Prices by Country

The average copper wire import price stood at $X per ton in 2021, increasing by 44% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Turkey ($X per ton) and Sweden ($X per ton), while the price for Poland ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform