Hungary: Glycerol Market 2024

Glycerol Market Size in Hungary

For the third consecutive year, the Hungarian glycerol market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption, however, posted a prominent increase. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in the near future.

Glycerol Production in Hungary

In value terms, glycerol production dropped modestly to $X in 2022 estimated in export price. In general, production continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Glycerol Exports

Exports from Hungary

In 2022, the amount of glycerol exported from Hungary skyrocketed to X tons, growing by X% on the year before. In general, total exports indicated noticeable 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 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, glycerol exports skyrocketed to $X in 2022. Over the period under review, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

The Czech Republic (X tons), Germany (X tons) and Austria (X tons) were the main destinations of glycerol exports from Hungary, together comprising X% of total exports. Denmark, Croatia, Poland, the Netherlands and Slovenia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Czech Republic ($X) and Austria ($X) appeared to be the largest markets for glycerol exported from Hungary worldwide, together accounting for X% of total exports. Poland, Croatia, Denmark, the Netherlands and Slovenia lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, 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 glycerol export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price continues to indicate a slight expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the near future.

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

Glycerol Imports

Imports into Hungary

In 2022, purchases abroad of glycerol decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports showed a mild setback. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, glycerol imports skyrocketed to $X in 2022. Overall, imports, however, showed buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest glycerol supplier to Hungary, accounting for a X% share of total imports. Moreover, glycerol imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), sixfold. The third position in this ranking was held by Poland (X tons), with a X% share.

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

In value terms, Germany ($X) constituted the largest supplier of glycerol to Hungary, comprising X% of total imports. The second position in the ranking was taken by Belgium ($X), with a X% share of total imports. It was followed by the Czech Republic, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and the Czech Republic (X% per year).

Import Prices by Country

The average glycerol import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price posted a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform