Hungary: Crude Glycerol Market 2024

Crude Glycerol Market Size in Hungary

The Hungarian crude glycerol market surged to $X in 2021, rising by 44% against the previous year. In general, consumption, however, recorded significant growth. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Crude Glycerol Production in Hungary

In value terms, crude glycerol production fell slightly to $X in 2021 estimated in export price. In general, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 83% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Crude Glycerol Exports

Exports from Hungary

In 2021, the amount of crude glycerol, glycerine waters and lyes exported from Hungary skyrocketed to X tons, rising by 37% compared with the previous year. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 28,468% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, crude glycerol exports soared to $X in 2021. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 9,642%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons), the Czech Republic (X tons) and Austria (X tons) were the main destinations of crude glycerol exports from Hungary, together comprising 86% of total exports.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +249.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for crude glycerol, glycerine waters and lyes exports from Hungary, comprising 50% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 23% share of total exports. It was followed by Austria, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+55.9% per year) and Austria (+256.7% per year).

Export Prices by Country

In 2021, the average crude glycerol export price amounted to $X per ton, increasing by 68% against the previous year. Over the period under review, the export price posted a remarkable increase. The most prominent rate of growth was recorded in 2013 an increase of 311% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Croatia ($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 Slovakia (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Glycerol Imports

Imports into Hungary

In 2021, supplies from abroad of crude glycerol, glycerine waters and lyes decreased by -36.3% to X tons, falling for the second consecutive year after two years of growth. In general, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2013 when imports increased by 15%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, crude glycerol imports dropped notably to $X in 2021. Overall, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 45% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Poland (X tons), the Czech Republic (X tons) and Romania (X tons) were the main suppliers of crude glycerol imports to Hungary, with a combined 90% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +47.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Czech Republic ($X) and Slovakia ($X) were the largest crude glycerol suppliers to Hungary, together comprising 89% of total imports.

In terms of the main suppliers, Poland, with a CAGR of +50.1%, 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

In 2021, the average crude glycerol import price amounted to $X per ton, rising by 12% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 36%. Over the period under review, average import prices hit record highs in 2021 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 Germany ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+44.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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