Hungary: Metal Hammer Market 2024

Metal Hammer Market Size in Hungary

For the eleventh consecutive year, the Hungarian metal hammer market recorded growth in sales value, which increased by 6.7% to $X in 2022. In general, consumption saw strong growth. Metal hammer consumption peaked in 2022 and is expected to retain growth in years to come.

Metal Hammer Exports

Exports from Hungary

After two years of growth, shipments abroad of hammers and sledge hammers with working part of metal decreased by -3.8% to X tons in 2022. Overall, exports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of 87%. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, metal hammer exports soared to $X in 2022. Over the period under review, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 88% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Romania (X tons) was the main destination for metal hammer exports from Hungary, with a 32% share of total exports. Moreover, metal hammer exports to Romania exceeded the volume sent to the second major destination, Serbia (X tons), twofold. The third position in this ranking was taken by Germany (X kg), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Romania totaled +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+6.7% per year) and Germany (+28.9% per year).

In value terms, Romania ($X) remains the key foreign market for hammers and sledge hammers with working part of metal exports from Hungary, comprising 27% of total exports. The second position in the ranking was taken by Germany ($X), with a 13% share of total exports. It was followed by Switzerland, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Romania totaled +23.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+30.7% per year) and Switzerland (+75.5% per year).

Export Prices by Country

The average metal hammer export price stood at $X per ton in 2022, increasing by 22% against the previous year. Overall, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal hammer export price increased by +16.7% against 2016 indices. The pace of growth appeared the most rapid in 2016 when the average export price increased by 110% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Italy ($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 (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Hammer Imports

Imports into Hungary

In 2022, supplies from abroad of hammers and sledge hammers with working part of metal increased by 5.2% to X tons, rising for the fourth consecutive year after three years of decline. In general, total imports indicated a prominent expansion from 2012 to 2022: its volume 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, imports increased by +23.5% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 53% against the previous year. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, metal hammer imports rose sharply to $X in 2022. Overall, imports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 29%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

China (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of metal hammer imports to Hungary, with a combined 83% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +22.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Poland ($X) were the largest metal hammer suppliers to Hungary, together accounting for 80% of total imports.

China, with a CAGR of +29.6%, recorded 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 2022, the average metal hammer import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2022: its price 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, metal hammer import price increased by +115.1% against 2015 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 26%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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