Hungary: Ketone And Quinone Market 2024

Ketone And Quinone Market Size in Hungary

In 2021, the Hungarian ketone and quinone market increased by 9.5% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption showed measured growth. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in years to come.

Ketone And Quinone Production in Hungary

In value terms, ketone and quinone production dropped significantly to $X in 2021 estimated in export price. In general, production recorded a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 794%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Ketone And Quinone Exports

Exports from Hungary

In 2021, shipments abroad of ketones and quinones decreased by -24.3% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2015 when exports increased by 87% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, ketone and quinone exports fell modestly to $X in 2021. Over the period under review, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2019 when exports increased by 104% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X tons), Slovakia (X tons) and Romania (X tons) were the main destinations of ketone and quinone exports from Hungary, with a combined 79% share of total exports. Germany, Denmark, Serbia, Belgium, the UK, Ireland and Poland lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +113.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ketone and quinone exported from Hungary were Italy ($X), Belgium ($X) and Romania ($X), with a combined 45% share of total exports. Ireland, the UK, Serbia, Germany, Denmark, Slovakia and Poland lagged somewhat behind, together comprising a further 29%.

The UK, with a CAGR of +121.7%, saw the highest rates of growth with regard to 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 2021, the average ketone and quinone export price amounted to $X per ton, growing by 31% against the previous year. Overall, the export price, however, continues to indicate a deep slump. The growth pace was the most rapid in 2020 an increase of 111%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Belgium ($X per ton), while the average price for exports to Slovakia ($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 (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ketone And Quinone Imports

Imports into Hungary

In 2021, after two years of growth, there was significant decline in supplies from abroad of ketones and quinones, when their volume decreased by -7% to X tons. Over the period under review, imports, however, saw a measured increase. The most prominent rate of growth was recorded in 2020 with an increase of 216%. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, ketone and quinone imports rose sharply to $X in 2021. In general, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +68.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 53%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of ketone and quinone to Hungary, with a 58% share of total imports. Moreover, ketone and quinone imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+1.4% per year) and the Netherlands (+15.4% per year).

In value terms, Germany ($X) constituted the largest supplier of ketones and quinones to Hungary, comprising 45% of total imports. The second position in the ranking was taken by Poland ($X), with a 13% share of total imports. It was followed by China, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+3.6% per year) and China (+1.5% per year).

Import Prices by Country

In 2021, the average ketone and quinone import price amounted to $X per ton, surging by 19% against the previous year. Over the period under review, the import price showed a tangible increase. The pace of growth was the most pronounced in 2016 an increase of 40% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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