Hungary: Market for High-Tenacity Filament Yarn Of Polyesters 2024

Market Size for High-Tenacity Filament Yarn Of Polyesters in Hungary

The Hungarian high-tenacity filament polyester yarn market surged to $X in 2021, growing by 34% against the previous year. In general, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of High-Tenacity Filament Yarn Of Polyesters in Hungary

In value terms, high-tenacity filament polyester yarn production dropped slightly to $X in 2021 estimated in export price. Overall, production, however, enjoyed strong growth. The pace of growth was the most pronounced in 2017 when the production volume increased by 87% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then shrank modestly in the following year.

Exports of High-Tenacity Filament Yarn Of Polyesters

Exports from Hungary

In 2021, after three years of growth, there was decline in overseas shipments of high-tenacity filament yarn of polyesters, when their volume decreased by -1.2% to X tons. Overall, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +10.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +8.7% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 146% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, high-tenacity filament polyester yarn exports dropped remarkably to $X in 2021. In general, exports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 69%. Over the period under review, the exports reached the maximum at $X in 2020, and then shrank sharply in the following year.

Exports by Country

Serbia (X tons) was the main destination for high-tenacity filament polyester yarn exports from Hungary, with a 55% share of total exports. Moreover, high-tenacity filament polyester yarn exports to Serbia exceeded the volume sent to the second major destination, Ukraine (X tons), threefold. North Macedonia (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to Serbia totaled +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (-2.1% per year) and North Macedonia (+150.2% per year).

In value terms, the largest markets for high-tenacity filament polyester yarn exported from Hungary were Ukraine ($X), North Macedonia ($X) and Serbia ($X), together accounting for 68% of total exports. These countries were followed by Germany, Spain and Slovakia, which together accounted for a further 25%.

Spain, with a CAGR of +384.2%, saw the highest growth rate of the value of exports, in terms of 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

In 2021, the average high-tenacity filament polyester yarn export price amounted to $X per ton, declining by -21.7% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 30%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020, and then shrank markedly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Serbia ($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 North Macedonia (+6.8%), while the prices for the other major destinations experienced a decline.

Imports of High-Tenacity Filament Yarn Of Polyesters

Imports into Hungary

In 2021, imports of high-tenacity filament yarn of polyesters into Hungary rose markedly to X tons, picking up by 12% against 2020 figures. Overall, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% 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 +85.2% against 2013 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, high-tenacity filament polyester yarn imports soared to $X in 2021. In general, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Germany (X tons) and China (X tons) were the main suppliers of high-tenacity filament polyester yarn imports to Hungary, with a combined 81% share of total imports. Slovakia, Denmark, Turkey and Poland lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +71.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of high-tenacity filament yarn of polyesters to Hungary, comprising 41% of total imports. The second position in the ranking was held by France ($X), with a 20% share of total imports. It was followed by China, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+5.4% per year) and China (-4.4% per year).

Import Prices by Country

The average high-tenacity filament polyester yarn import price stood at $X per ton in 2021, rising by 24% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Turkey ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+33.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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