Hungary: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Hungary

In 2022, the Hungarian glass fibre and article market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Glass fibre and article consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Glass Fibres and Glass Fibre Articles in Hungary

In value terms, glass fibre and article production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Glass fibre and article production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Hungary

After two years of growth, overseas shipments of glass fibres and glass fibre articles decreased by X% to X tons in 2022. In general, total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, glass fibre and article exports dropped to $X in 2022. Over the period under review, total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

Germany (X tons), Italy (X tons) and Turkey (X tons) were the main destinations of glass fibre and article exports from Hungary, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Turkey ($X) constituted the largest markets for glass fibre and article exported from Hungary worldwide, with a combined X% share of total exports.

Among the main countries of destination, Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to 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 glass fibre and article export price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

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

Imports of Glass Fibres and Glass Fibre Articles

Imports into Hungary

In 2022, imports of glass fibres and glass fibre articles into Hungary totaled X tons, almost unchanged from the previous year. In general, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, glass fibre and article imports expanded to $X in 2022. Overall, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Serbia (X tons), the Czech Republic (X tons) and Romania (X tons) were the main suppliers of glass fibre and article imports to Hungary, together accounting for X% of total imports. Slovenia, Bahrain, Germany, Turkey, Italy, Belgium, China, South Korea, Poland and Slovakia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest glass fibre and article suppliers to Hungary were Serbia ($X), Italy ($X) and the Czech Republic ($X), with a combined X% share of total imports.

Serbia, with a CAGR of X%, recorded the highest growth rate of 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 glass fibre and article import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Slovenia ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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