Hungary: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in Hungary

The Hungarian methacrylic acid esters market was estimated at $X in 2022, increasing by 8.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a significant expansion. Methacrylic acid esters consumption peaked in 2022 and is expected to retain growth in years to come.

Methacrylic Acid Esters Exports

Exports from Hungary

After three years of growth, overseas shipments of esters of methacrylic acid decreased by -71% to X tons in 2022. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 333% against the previous year. The exports peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, methacrylic acid esters exports fell notably to $X in 2022. In general, exports, however, recorded a strong increase. The growth pace was the most rapid in 2020 when exports increased by 193% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined notably in the following year.

Exports by Country

Croatia (X tons) was the main destination for methacrylic acid esters exports from Hungary, accounting for a 90% share of total exports. Moreover, methacrylic acid esters exports to Croatia exceeded the volume sent to the second major destination, Romania (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Croatia stood at +99.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+52.6% per year) and Ukraine (0.0% per year).

In value terms, Croatia ($X) remains the key foreign market for esters of methacrylic acid exports from Hungary, comprising 78% of total exports. The second position in the ranking was taken by Romania ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Croatia totaled +66.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+47.1% per year) and Ukraine (-0.7% per year).

Export Prices by Country

In 2022, the average methacrylic acid esters export price amounted to $X per ton, which is down by -13.8% against the previous year. Overall, the export price showed a abrupt downturn. The growth pace was the most rapid in 2013 when the average export price increased by 124% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 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 Ukraine ($X per ton), while the average price for exports to Croatia ($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 Ukraine (-0.7%), while the prices for the other major destinations experienced a decline.

Methacrylic Acid Esters Imports

Imports into Hungary

For the fifth year in a row, Hungary recorded growth in purchases abroad of esters of methacrylic acid, which increased by 5% to X tons in 2022. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,521% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, methacrylic acid esters imports stood at $X in 2022. In general, imports showed a significant expansion. The pace of growth was the most pronounced in 2018 when imports increased by 715% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), China (X tons) and the UK (X tons) were the main suppliers of methacrylic acid esters imports to Hungary, with a combined 99% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +208.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) constituted the largest supplier of esters of methacrylic acid to Hungary, comprising 63% of total imports. The second position in the ranking was taken by China ($X), with a 29% share of total imports. It was followed by the UK, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +65.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+132.4% per year) and the UK (+6.9% per year).

Import Prices by Country

In 2022, the average methacrylic acid esters import price amounted to $X per ton, with an increase of 4.4% against the previous year. Overall, the import price, however, continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2019 when the average import price increased by 77%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+13.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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