Hungary: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in Hungary

The Hungarian market for lauric acid and other acids, their salts and esters expanded significantly to $X in 2021, picking up by 13% against the previous year. Overall, consumption showed a abrupt setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Lauric Acid And Other Acids, Their Salts And Esters in Hungary

In value terms, production of lauric acid and other acids, their salts and esters rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 25%. As a result, production reached the peak level of $X. From 2020 to 2021, production of growth remained at a somewhat lower figure.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from Hungary

In 2021, exports of lauric acid and other acids, their salts and esters from Hungary soared to X tons, jumping by 17% on the year before. Overall, exports saw prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 26% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, exports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. In general, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +76.3% against 2013 indices. The pace of growth was the most pronounced in 2017 with an increase of 20% against the previous year. Over the period under review, the exports of reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for exports of lauric acid and other acids, their salts and esters from Hungary, accounting for a 48% share of total exports. Moreover, exports of lauric acid and other acids, their salts and esters to Germany exceeded the volume sent to the second major destination, Switzerland (X tons), fivefold. The third position in this ranking was taken by India (X tons), with an 8.9% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+15.8% per year) and India (+26.2% per year).

In value terms, Germany ($X) remains the key foreign market for lauric acid and other acids, their salts and esters exports from Hungary, comprising 42% of total exports. The second position in the ranking was held by Belgium ($X), with an 8.7% share of total exports. It was followed by Switzerland, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+15.1% per year) and Switzerland (+13.2% per year).

Export Prices by Country

In 2021, the average export price for lauric acid and other acids, their salts and esters amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 7.2%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Poland ($X per ton), while the average price for exports to Switzerland ($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 Poland (+37.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into Hungary

In 2021, the amount of lauric acid and other acids, their salts and esters imported into Hungary surged to X tons, with an increase of 18% compared with the year before. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.3% 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 -0.1% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 37% against the previous year. Imports peaked at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, imports of lauric acid and other acids, their salts and esters surged to $X in 2021. Overall, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest lauric acid and other acids, their salts and esters supplier to Hungary, with a 68% share of total imports. Moreover, imports of lauric acid and other acids, their salts and esters from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. The Czech Republic (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+2.0% per year) and the Czech Republic (+19.2% per year).

In value terms, Germany ($X) constituted the largest supplier of lauric acid and other acids, their salts and esters to Hungary, comprising 58% of total imports. The second position in the ranking was held by Belgium ($X), with a 20% share of total imports. It was followed by the Netherlands, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+7.3% per year) and the Netherlands (+2.1% per year).

Import Prices by Country

The average import price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, picking up by 33% against the previous year. Over the period under review, the import price, however, recorded a slight setback. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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