Hungary: Insecticide Market 2024

Insecticide Market Size in Hungary

The Hungarian insecticide market expanded to $X in 2021, with an increase of 4.4% against the previous year. Over the period under review, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +63.9% against 2017 indices. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Insecticide Production in Hungary

In value terms, insecticide production soared to $X in 2021 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +11.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +89.0% against 2018 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Insecticide Exports

Exports from Hungary

In 2021, the amount of insecticides exported from Hungary rose to X tons, picking up by 4.9% on 2020 figures. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 41% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, insecticide exports dropped modestly to $X in 2021. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 53%. The exports peaked at $X in 2020, and then contracted in the following year.

Exports by Country

Russia (X tons), France (X tons) and Ukraine (X tons) were the main destinations of insecticide exports from Hungary, with a combined 37% share of total exports. These countries were followed by Italy, Romania, Bulgaria, Poland, Spain, Belgium, Germany, the Netherlands, Turkey and Greece, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +85.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), France ($X) and Romania ($X) appeared to be the largest markets for insecticide exported from Hungary worldwide, with a combined 27% share of total exports. These countries were followed by Greece, Italy, Spain, Ukraine, Bulgaria, Poland, the Netherlands, Germany, Belgium and Turkey, which together accounted for a further 43%.

In terms of the main countries of destination, Italy, with a CAGR of +92.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average insecticide export price amounted to $X per ton, reducing by -8.7% against the previous year. Over the period under review, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, insecticide export price decreased by -26.5% against 2019 indices. The pace of growth appeared the most rapid in 2018 an increase of 35% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Ukraine ($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 Belgium (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Insecticide Imports

Imports into Hungary

In 2021, supplies from abroad of insecticides increased by 20% to X tons, rising for the fourth year in a row after three years of decline. In general, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.3% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of 84% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, insecticide imports contracted to $X in 2021. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.4% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 42% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Spain (X tons), Italy (X tons) and France (X tons) were the main suppliers of insecticide imports to Hungary, with a combined 75% 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 +44.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest insecticide suppliers to Hungary were France ($X), Spain ($X) and Germany ($X), with a combined 48% share of total imports. These countries were followed by Italy, Austria, Poland, Belgium, Denmark, the Netherlands, Israel, the UK, the Czech Republic and Slovenia, which together accounted for a further 40%.

The Czech Republic, with a CAGR of +28.8%, recorded 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 insecticide import price amounted to $X per ton, shrinking by -25.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 41%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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