Hungary: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Hungary

The Hungarian industrial stearic acid market surged to $X in 2021, rising by 44% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a resilient expansion. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in the near future.

Industrial Stearic Acid Exports

Exports from Hungary

In 2021, approx. X tons of industrial stearic acid were exported from Hungary; picking up by 273% compared with 2020 figures. Overall, exports posted a modest expansion. The growth pace was the most rapid in 2020 when exports increased by 304% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, industrial stearic acid exports surged to $X in 2021. Over the period under review, exports, however, saw a abrupt downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Czech Republic (X tons) was the main destination for industrial stearic acid exports from Hungary, with a 83% share of total exports. Moreover, industrial stearic acid exports to the Czech Republic exceeded the volume sent to the second major destination, Romania (X tons), ninefold. Serbia (X tons) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Czech Republic stood at +144.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+10.6% per year) and Serbia (-6.8% per year).

In value terms, the Czech Republic ($X) emerged as the key foreign market for industrial stearic acid exports from Hungary, comprising 83% of total exports. The second position in the ranking was held by Romania ($X), with a 9.4% share of total exports. It was followed by Serbia, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Czech Republic totaled +152.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+14.3% per year) and Serbia (-10.6% per year).

Export Prices by Country

The average industrial stearic acid export price stood at $X per ton in 2021, rising by 71% against the previous year. In general, the export price, however, showed a abrupt descent. The pace of growth was the most pronounced in 2019 an increase of 207% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Serbia ($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 Slovenia (+155.5%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports into Hungary

In 2021, overseas purchases of industrial stearic acid increased by 21% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports showed a resilient expansion. The growth pace was the most rapid in 2015 when imports increased by 165%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, industrial stearic acid imports skyrocketed to $X in 2021. Overall, imports showed a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 106% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Spain (X tons) and Malaysia (X tons) were the main suppliers of industrial stearic acid imports to Hungary, with a combined 83% share of total imports. These countries were followed by Sweden, Italy, Poland, Belgium, the Netherlands, Indonesia and the Czech Republic, which together accounted for a further 17%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +70.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial stearic acid suppliers to Hungary were Germany ($X), Malaysia ($X) and Spain ($X), with a combined 79% share of total imports. These countries were followed by Poland, Sweden, Belgium, Italy, the Netherlands, the Czech Republic and Indonesia, which together accounted for a further 20%.

Sweden, with a CAGR of +86.8%, saw 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 2021, the average industrial stearic acid import price amounted to $X per ton, surging by 32% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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