Hungary: Glass Closure Market 2024

Glass Closure Market Size in Hungary

The Hungarian glass closure market expanded slightly to $X in 2022, growing by 4.1% against the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.9% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Glass Closure Production in Hungary

In value terms, glass closure production reached $X in 2022 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 31%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Glass Closure Exports

Exports from Hungary

Glass closure exports from Hungary surged to X tons in 2022, picking up by 33% on 2021. Overall, exports, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2021 with an increase of 142% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, glass closure exports soared to $X in 2022. Over the period under review, exports, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2021 with an increase of 266% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Romania (X tons), the Czech Republic (X tons) and Slovakia (X tons) were the main destinations of glass closure exports from Hungary, together comprising 93% of total exports. Poland and Germany lagged somewhat behind, together accounting for a further 6.3%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +22.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Romania ($X), the Czech Republic ($X) and Slovakia ($X) constituted the largest markets for glass closure exported from Hungary worldwide, together accounting for 96% of total exports. Poland and Germany lagged somewhat behind, together accounting for a further 3.1%.

Among the main countries of destination, Poland, with a CAGR of +19.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average glass closure export price amounted to $X per ton, increasing by 8.1% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 212%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Germany ($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 the Czech Republic (+6.0%), while the prices for the other major destinations experienced a decline.

Glass Closure Imports

Imports into Hungary

In 2022, imports of glass stoppers, lids and other closures into Hungary soared to X tons, jumping by 20% on the previous year's figure. Overall, imports showed a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 247% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, glass closure imports expanded significantly to $X in 2022. Over the period under review, imports enjoyed pronounced growth. The pace of growth appeared the most rapid in 2017 when imports increased by 235% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Turkey (X tons), Poland (X tons) and China (X tons) were the main suppliers of glass closure imports to Hungary, together comprising 65% of total imports. Bulgaria, the Czech Republic, Germany, France, Austria and the Netherlands lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +701.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Bulgaria ($X) and Turkey ($X) appeared to be the largest glass closure suppliers to Hungary, with a combined 52% share of total imports.

Among the main suppliers, Bulgaria, with a CAGR of +607.1%, saw the highest growth rate of 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

In 2022, the average glass closure import price amounted to $X per ton, declining by -6.6% against the previous year. In general, the import price saw a deep downturn. The growth pace was the most rapid in 2020 an increase of 10% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for France ($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 (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :