Hungary: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Hungary

In 2022, the Hungarian extruded solid rubber rod market decreased by -4.3% to $X, falling for the second consecutive year after four years of growth. In general, consumption, however, continues to indicate a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Extruded Solid Rubber Rods And Profiles in Hungary

In value terms, extruded solid rubber rod production declined to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a pronounced expansion. The growth pace was the most rapid in 2019 with an increase of 73% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from Hungary

In 2022, the amount of extruded solid rubber rods and profiles exported from Hungary dropped to X tons, with a decrease of -6.3% against 2021 figures. In general, total exports indicated a perceptible increase from 2012 to 2022: its volume 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, exports increased by +56.0% against 2013 indices. The pace of growth was the most pronounced in 2021 when exports increased by 27%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, extruded solid rubber rod exports expanded to $X in 2022. Overall, exports, however, saw moderate growth. The pace of growth appeared the most rapid in 2019 with an increase of 37%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons) was the main destination for extruded solid rubber rod exports from Hungary, accounting for a 37% share of total exports. Moreover, extruded solid rubber rod exports to Germany exceeded the volume sent to the second major destination, Serbia (X tons), threefold. The third position in this ranking was taken by Austria (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+2.8% per year) and Austria (+3.1% per year).

In value terms, Germany ($X) remains the key foreign market for extruded solid rubber rods and profiles exports from Hungary, comprising 37% of total exports. The second position in the ranking was held by Austria ($X), with a 13% share of total exports. It was followed by the Czech Republic, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+8.4% per year) and the Czech Republic (+7.9% per year).

Export Prices by Country

The average extruded solid rubber rod export price stood at $X per ton in 2022, surging by 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Serbia ($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 Slovakia (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into Hungary

In 2022, the amount of extruded solid rubber rods and profiles imported into Hungary reduced to X tons, declining by -8.3% on the previous year's figure. In general, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2019 when imports increased by 35%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, extruded solid rubber rod imports expanded slightly to $X in 2022. Over the period under review, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 82% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Germany (X tons) constituted the largest extruded solid rubber rod supplier to Hungary, with a 54% share of total imports. Moreover, extruded solid rubber rod imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X tons), threefold. Poland (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+5.8% per year) and Poland (+5.6% per year).

In value terms, the largest extruded solid rubber rod suppliers to Hungary were Germany ($X), Poland ($X) and Austria ($X), together comprising 86% of total imports. The Czech Republic, Sweden, Italy and Turkey lagged somewhat behind, together accounting for a further 8.1%.

In terms of the main suppliers, Italy, with a CAGR of +61.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average extruded solid rubber rod import price stood at $X per ton in 2022, picking up by 11% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, extruded solid rubber rod import price increased by +2.9% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 48%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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