Hungary: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in Hungary

In 2021, the Hungarian aromatic hydrocarbons derivatives market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption showed strong growth. Aromatic hydrocarbons derivatives consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Aromatic Hydrocarbons Derivatives Production in Hungary

In value terms, aromatic hydrocarbons derivatives production rose remarkably to $X in 2021 estimated in export price. Overall, production, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 58% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Aromatic Hydrocarbons Derivatives Exports

Exports from Hungary

In 2021, approx. X tons of halogenated derivatives of aromatic hydrocarbons were exported from Hungary; increasing by 4,204% on the year before. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 5,052% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, aromatic hydrocarbons derivatives exports skyrocketed to $X in 2021. Over the period under review, exports posted significant growth. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X tons) and Hong Kong SAR (X tons) were the main destinations of aromatic hydrocarbons derivatives exports from Hungary.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +276.7%).

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR was relatively modest.

Export Prices by Country

In 2021, the average aromatic hydrocarbons derivatives export price amounted to $X per ton, remaining constant against the previous year. In general, the export price saw a drastic downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 1,785% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, the 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 Hong Kong SAR ($X per ton), while the average price for exports to the UK totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (-11.5%).

Aromatic Hydrocarbons Derivatives Imports

Imports into Hungary

In 2021, imports of halogenated derivatives of aromatic hydrocarbons into Hungary soared to X tons, picking up by 43% on the year before. Overall, imports posted a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of 99% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, aromatic hydrocarbons derivatives imports soared to $X in 2021. In general, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2013 with an increase of 179% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

Poland (X tons), Germany (X tons) and Japan (X tons) were the main suppliers of aromatic hydrocarbons derivatives imports to Hungary, with a combined 88% share of total imports. These countries were followed by India, the United States, China and the Netherlands, which together accounted for a further 11%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +194.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Poland ($X) and Germany ($X) appeared to be the largest aromatic hydrocarbons derivatives suppliers to Hungary, with a combined 71% share of total imports. These countries were followed by India, the United States, China and the Netherlands, which together accounted for a further 23%.

India, with a CAGR of +217.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 aromatic hydrocarbons derivatives import price amounted to $X per ton, rising by 8.6% against the previous year. Overall, import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aromatic hydrocarbons derivatives import price increased by +90.1% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 75% against the previous year. The import price peaked in 2021 and is likely to see gradual 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 Japan ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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