Hungary: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Hungary

The Hungarian glass fibres and wool market expanded rapidly to $X in 2022, with an increase of 12% against the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Glass fibres and wool consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of Glass Fibres And Glass Wool in Hungary

In value terms, glass fibres and wool production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when the production volume increased by 23%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Glass Fibres And Glass Wool

Exports from Hungary

Glass fibres and wool exports from Hungary fell dramatically to X tons in 2022, with a decrease of -19.1% compared with 2021 figures. In general, exports, however, continue to indicate strong growth. The growth pace was the most rapid in 2016 when exports increased by 2,126% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass fibres and wool exports shrank to $X in 2022. Over the period under review, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 when exports increased by 747%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Poland (X tons) and the Czech Republic (X tons) were the main destinations of glass fibres and wool exports from Hungary, with a combined 85% share 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 Poland (with a CAGR of +128.0%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and the Czech Republic ($X) were the largest markets for glass fibres and wool exported from Hungary worldwide, with a combined 62% share of total exports.

Poland, with a CAGR of +135.6%, recorded the highest growth rate of the value of exports, among 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 glass fibres and wool export price stood at $X per ton in 2022, picking up by 13% against the previous year. In general, the export price posted a perceptible expansion. The growth pace was the most rapid in 2013 an increase of 137% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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 United States ($X per ton), while the average price for exports to the Czech Republic ($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 Germany (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Hungary

In 2022, approx. X tons of glass fibres and glass wool were imported into Hungary; with an increase of 140% on the previous year. In general, imports saw a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fibres and wool imports soared to $X in 2022. Overall, imports saw a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Romania (X tons) and Germany (X tons) were the main suppliers of glass fibres and wool imports to Hungary, with a combined 54% share of total imports. Poland, China, Slovakia, Slovenia, France, the Czech Republic and Austria lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +49.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Romania ($X) were the largest glass fibres and wool suppliers to Hungary, together accounting for 45% of total imports. The Czech Republic, Austria, China, France, Poland, Slovakia and Slovenia lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, China, with a CAGR of +54.9%, 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 glass fibres and wool import price stood at $X per ton in 2022, dropping by -16.3% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 45% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :