Hungary: Ink-Pad Market 2024

Ink-Pad Market Size in Hungary

The Hungarian ink-pad market declined dramatically to $X in 2022, which is down by -15.7% 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). In general, consumption, however, continues to indicate a strong increase. As a result, consumption reached the peak level of $X, and then declined rapidly in the following year.

Ink-Pad Exports

Exports from Hungary

In 2022, the amount of ink-pads exported from Hungary surged to X units, growing by 255% compared with the year before. Overall, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 309%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, ink-pad exports soared to $X in 2022. Over the period under review, exports saw significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 142% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units), Spain (X units) and Italy (X units) were the main destinations of ink-pad exports from Hungary, with a combined 72% share of total exports. France, Germany, Greece, Portugal, Slovakia and Slovenia lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +444.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ink-pad exported from Hungary were Slovakia ($X), the Netherlands ($X) and Spain ($X), with a combined 55% share of total exports. Italy, Greece, France, Portugal, Germany and Slovenia lagged somewhat behind, together accounting for a further 22%.

Portugal, with a CAGR of +319.8%, 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 2022, the average ink-pad export price amounted to $X per unit, declining by -61.3% against the previous year. Overall, the export price showed a abrupt contraction. The pace of growth was the most pronounced in 2018 when the average export price increased by 89% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, 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 Slovakia ($X per unit), while the average price for exports to Germany (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+39.5%), while the prices for the other major destinations experienced mixed trend patterns.

Ink-Pad Imports

Imports into Hungary

Ink-pad imports into Hungary amounted to X units in 2022, therefore, remained relatively stable against the previous year. In general, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 70%. Over the period under review, imports attained the maximum at X units in 2019; afterwards, it flattened through to 2022.

In value terms, ink-pad imports reduced to $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.4% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 74% against the previous year. As a result, imports reached the peak of $X, and then reduced modestly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of ink-pad to Hungary, accounting for a 60% share of total imports. Moreover, ink-pad imports from China exceeded the figures recorded by the second-largest supplier, Austria (X units), fourfold. The third position in this ranking was held by the United States (X units), with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +50.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+0.2% per year) and the United States (+66.6% per year).

In value terms, Austria ($X), China ($X) and the United States ($X) appeared to be the largest ink-pad suppliers to Hungary, together accounting for 86% of total imports.

China, with a CAGR of +60.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ink-pad import price stood at $X per unit in 2022, reducing by -2.6% against the previous year. Over the period under review, the import price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2020 when the average import price increased by 32% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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