Hungary: Industrial Oleic Acid Market 2025

Industrial Oleic Acid Market Size in Hungary

In 2021, the Hungarian industrial oleic acid market increased by 84% to $X, rising for the sixth year in a row after three years of decline. In general, consumption saw a strong increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Industrial Oleic Acid Exports

Exports from Hungary

In 2021, shipments abroad of industrial oleic acid decreased by -57.3% to X kg, falling for the second year in a row after four years of growth. Overall, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 when exports increased by 95% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, industrial oleic acid exports declined rapidly to $X in 2021. In general, exports showed a pronounced setback. The most prominent rate of growth was recorded in 2016 when exports increased by 152%. Over the period under review, the exports attained the maximum at $X in 2020, and then contracted remarkably in the following year.

Exports by Country

Switzerland (X kg) and Mexico (X kg) were the main destinations of industrial oleic acid exports from Hungary.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of +50.1%).

In value terms, the largest markets for industrial oleic acid exported from Hungary were Switzerland ($X) and Mexico ($X).

Mexico, with a CAGR of +102.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average industrial oleic acid export price amounted to $X per ton, surging by 87% against the previous year. In general, the export price posted a resilient increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 104%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, the country with the highest price was Mexico ($X per ton), while the average price for exports to Switzerland totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+72.7%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Oleic Acid Imports

Imports into Hungary

In 2021, overseas purchases of industrial oleic acid increased by 54% to X tons, rising for the sixth year in a row after three years of decline. Over the period under review, imports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2019 with an increase of 89%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, industrial oleic acid imports skyrocketed to $X in 2021. Overall, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2019 with an increase of 90%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Germany (X tons), the Czech Republic (X tons) and Italy (X tons) were the main suppliers of industrial oleic acid imports to Hungary, with a combined 83% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +31.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of industrial oleic acid to Hungary, comprising 43% of total imports. The second position in the ranking was held by the Czech Republic ($X), with an 18% share of total imports. It was followed by Italy, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +22.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+16.5% per year) and Italy (+36.6% per year).

Import Prices by Country

In 2021, the average industrial oleic acid import price amounted to $X per ton, jumping by 23% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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