Hungary: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Hungary

The Hungarian pharmaceutical rubber articles market surged to $X in 2021, with an increase of 16% against the previous year. Over the period under review, consumption, however, posted a significant expansion. Pharmaceutical rubber articles consumption peaked in 2021 and is expected to retain growth in the immediate term.

Pharmaceutical Rubber Articles Production in Hungary

In value terms, pharmaceutical rubber articles production surged to $X in 2021 estimated in export price. Over the period under review, production, however, saw a significant expansion. The pace of growth appeared the most rapid in 2015 when the production volume increased by 637%. Pharmaceutical rubber articles production peaked in 2021 and is expected to retain growth in the near future.

Pharmaceutical Rubber Articles Exports

Exports from Hungary

For the third year in a row, Hungary recorded decline in shipments abroad of hygienic or pharmaceutical articles of rubber, which decreased by -11.4% to X units in 2021. Overall, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of 39% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, pharmaceutical rubber articles exports declined to $X in 2021. Over the period under review, exports saw a abrupt slump. The pace of growth appeared the most rapid in 2018 with an increase of 16%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X units), Russia (X units) and Germany (X units) were the main destinations of pharmaceutical rubber articles exports from Hungary, with a combined 51% share of total exports. These countries were followed by Spain, Slovakia, Saudi Arabia, Iran, Turkey, France, the UK, Israel, Sweden and Romania, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +48.5%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) remains the key foreign market for hygienic or pharmaceutical articles of rubber exports from Hungary, comprising 28% of total exports. The second position in the ranking was held by France ($X), with a 9.8% share of total exports. It was followed by Russia, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy totaled -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-11.9% per year) and Russia (-3.4% per year).

Export Prices by Country

In 2021, the average pharmaceutical rubber articles export price amounted to $X per unit, standing approx. at the previous year. Overall, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pharmaceutical rubber articles export price decreased by -14.3% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 68% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the average 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 France ($X per unit), while the average price for exports to Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Rubber Articles Imports

Imports into Hungary

In 2021, after two years of growth, there was significant decline in supplies from abroad of hygienic or pharmaceutical articles of rubber, when their volume decreased by -19.3% to X units. Overall, total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 28% against the previous year. Over the period under review, imports attained the maximum at X units in 2020, and then fell sharply in the following year.

In value terms, pharmaceutical rubber articles imports rose slightly to $X in 2021. The total import value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 21%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Austria (X units), Poland (X units) and Sweden (X units) were the main suppliers of pharmaceutical rubber articles imports to Hungary, with a combined 69% share of total imports. These countries were followed by Ireland, Germany, China, France, Belgium, Denmark and the UK, which together accounted for a further 27%.

From 2012 to 2021, the biggest increases were recorded for Ireland (with a CAGR of +137.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X) constituted the largest supplier of hygienic or pharmaceutical articles of rubber to Hungary, comprising 40% of total imports. The second position in the ranking was held by Sweden ($X), with a 20% share of total imports. It was followed by Ireland, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value from Austria amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+1.0% per year) and Ireland (+135.3% per year).

Import Prices by Country

In 2021, the average pharmaceutical rubber articles import price amounted to $X per unit, surging by 27% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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