Hungary: Market for Industrial Monocarboxylic Fatty Acids 2024

Market Size for Industrial Monocarboxylic Fatty Acids in Hungary

In 2021, after three years of decline, there was significant growth in the Hungarian industrial monocarboxylic fatty acids market, when its value increased by 21% to $X. In general, consumption showed a abrupt contraction. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports from Hungary

After four years of growth, overseas shipments of industrial monocarboxylic fatty acids decreased by -7.8% to X tons in 2021. In general, total exports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 43% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, industrial monocarboxylic fatty acids exports surged to $X in 2021. Over the period under review, exports, however, enjoyed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for industrial monocarboxylic fatty acids exports from Hungary, accounting for a 64% share of total exports. Moreover, industrial monocarboxylic fatty acids exports to the Netherlands exceeded the volume sent to the second major destination, Germany (X tons), fivefold. Poland (X tons) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands stood at +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-3.3% per year) and Poland (+23.4% per year).

In value terms, the Netherlands ($X) remains the key foreign market for industrial monocarboxylic fatty acids exports from Hungary, comprising 64% of total exports. The second position in the ranking was taken by Poland ($X), with an 11% share of total exports. It was followed by Germany, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands amounted to +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+31.3% per year) and Germany (-5.8% per year).

Export Prices by Country

The average industrial monocarboxylic fatty acids export price stood at $X per ton in 2021, rising by 56% against the previous year. In general, export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial monocarboxylic fatty acids export price increased by +89.7% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Germany ($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 Poland (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Monocarboxylic Fatty Acids

Imports into Hungary

In 2021, approx. X tons of industrial monocarboxylic fatty acids were imported into Hungary; with a decrease of -6.8% on the year before. Over the period under review, imports recorded a mild decrease. The growth pace was the most rapid in 2013 with an increase of 28%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, industrial monocarboxylic fatty acids imports soared to $X in 2021. Overall, imports continue to indicate a slight contraction. The pace of growth was the most pronounced in 2017 with an increase of 37% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Spain (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of industrial monocarboxylic fatty acids imports to Hungary, with a combined 76% share of total imports. These countries were followed by Portugal, Belgium, Croatia, Denmark and Austria, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Croatia (with a CAGR of +154.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial monocarboxylic fatty acids suppliers to Hungary were Spain ($X), the Netherlands ($X) and Germany ($X), together accounting for 73% of total imports. Portugal, Belgium, Croatia, Denmark and Austria lagged somewhat behind, together accounting for a further 26%.

Among the main suppliers, Croatia, with a CAGR of +183.8%, 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 industrial monocarboxylic fatty acids import price amounted to $X per ton, rising by 38% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Croatia (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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