Hungary: Granite Building Stone Market 2024

Granite Building Stone Market Size in Hungary

In 2021, after two years of decline, there was significant growth in the Hungarian granite building stone market, when its value increased by 15% to $X. In general, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -12.3% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Granite Building Stone Production in Hungary

In value terms, granite building stone production rose rapidly to $X in 2021 estimated in export price. In general, production recorded a pronounced reduction. The pace of growth was the most pronounced in 2018 with an increase of 148% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Granite Building Stone Exports

Exports from Hungary

In 2021, shipments abroad of granite building stone increased by 20% to X tons, rising for the third consecutive year after five years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 53% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, granite building stone exports surged to $X in 2021. Over the period under review, exports, however, recorded a deep reduction. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Romania (X tons) was the main destination for granite building stone exports from Hungary, accounting for a 79% share of total exports. Moreover, granite building stone exports to Romania exceeded the volume sent to the second major destination, Slovakia (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Romania totaled +11.4%.

In value terms, Romania ($X) remains the key foreign market for granite building stone exports from Hungary, comprising 78% of total exports. The second position in the ranking was held by Slovakia ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania stood at +12.9%.

Export Prices by Country

In 2021, the average granite building stone export price amounted to $X per ton, jumping by 32% against the previous year. Over the period under review, the export price, however, showed a abrupt decrease. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Slovakia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+1.3%), while the prices for the other major destinations experienced a decline.

Granite Building Stone Imports

Imports into Hungary

In 2021, approx. X tons of granite building stone were imported into Hungary; surging by 12% against 2020 figures. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.7% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 52% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, granite building stone imports soared to $X in 2021. In general, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +96.3% against 2016 indices. The growth pace was the most rapid in 2014 with an increase of 51%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Slovenia (X tons) and Italy (X tons) were the main suppliers of granite building stone imports to Hungary, with a combined 80% share of total imports. These countries were followed by India, Spain, Belgium and Germany, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +22.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Slovenia ($X) and Italy ($X) appeared to be the largest granite building stone suppliers to Hungary, together comprising 80% of total imports. India, Germany, Spain and Belgium lagged somewhat behind, together comprising a further 14%.

In terms of the main suppliers, Germany, with a CAGR of +23.3%, recorded 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 granite building stone import price amounted to $X per ton, picking up by 28% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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