Hungary: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Hungary

In 2021, the Hungarian ethyl acetate market was finally on the rise to reach $X after two years of decline. In general, consumption showed a prominent increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ethyl Acetate Production in Hungary

In value terms, ethyl acetate production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 19% against the previous year. Ethyl acetate production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Ethyl Acetate Exports

Exports from Hungary

In 2021, after two years of decline, there was significant growth in overseas shipments of ethyl acetate, when their volume increased by 53% to X tons. In general, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 15,148%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, ethyl acetate exports soared to $X in 2021. Over the period under review, exports recorded significant growth. The pace of growth was the most pronounced in 2013 with an increase of 11,146% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Romania (X tons) was the main destination for ethyl acetate exports from Hungary, accounting for a 56% share of total exports. Moreover, ethyl acetate exports to Romania exceeded the volume sent to the second major destination, Poland (X tons), threefold. The third position in this ranking was held by Serbia (X tons), with a 20% share.

From 2012 to 2021, the average annual growth rate of volume to Romania stood at +119.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-39.3% per year) and Serbia (+7.4% per year).

In value terms, Romania ($X) remains the key foreign market for ethyl acetate exports from Hungary, comprising 58% of total exports. The second position in the ranking was held by Poland ($X), with a 20% share of total exports. It was followed by Serbia, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania totaled +119.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-12.2% per year) and Serbia (+9.2% per year).

Export Prices by Country

The average ethyl acetate export price stood at $X per ton in 2021, jumping by 55% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Serbia ($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 Poland (+44.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ethyl Acetate Imports

Imports into Hungary

After two years of decline, overseas purchases of ethyl acetate increased by 16% to X tons in 2021. Overall, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 43% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, ethyl acetate imports soared to $X in 2021. In general, imports posted a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Ukraine (X tons), Belgium (X tons) and Turkey (X tons) were the main suppliers of ethyl acetate imports to Hungary, together comprising 76% of total imports. These countries were followed by Slovakia, the Netherlands, Estonia and Germany, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +132.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X) constituted the largest supplier of ethyl acetate to Hungary, comprising 50% of total imports. The second position in the ranking was taken by Belgium ($X), with a 19% share of total imports. It was followed by Slovakia, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Ukraine totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+7.3% per year) and Slovakia (+165.2% per year).

Import Prices by Country

In 2021, the average ethyl acetate import price amounted to $X per ton, with an increase of 73% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Slovakia ($X per ton) and Ukraine ($X per ton), while the price for the Netherlands ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Estonia (+24.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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