Hungary: Maleic Anhydride Market 2024

Maleic Anhydride Market Size in Hungary

The Hungarian maleic anhydride market declined dramatically to $X in 2021, waning by -54.4% against the previous year. Overall, consumption saw a significant contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Maleic Anhydride Production in Hungary

In value terms, maleic anhydride production stood at $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2019 with an increase of 191%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Maleic Anhydride Exports

Exports from Hungary

In 2021, exports of maleic anhydride from Hungary soared to X tons, with an increase of 18% on the previous year's figure. The total export volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when exports increased by 26%. As a result, the exports attained the peak of X tons; afterwards, it flattened through to 2021.

In value terms, maleic anhydride exports surged to $X in 2021. In general, exports saw buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland (X tons), Austria (X tons) and Italy (X tons) were the main destinations of maleic anhydride exports from Hungary, with a combined 52% share of total exports. These countries were followed by Germany, Slovenia, France, Croatia, the UK, Slovakia, Spain, Turkey, the Czech Republic and the Netherlands, which together accounted for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +36.0%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Italy ($X) and Austria ($X) appeared to be the largest markets for maleic anhydride exported from Hungary worldwide, together comprising 51% of total exports. Germany, Slovenia, France, Croatia, the UK, Slovakia, Spain, the Czech Republic, the Netherlands and Turkey lagged somewhat behind, together accounting for a further 43%.

In terms of the main countries of destination, the Czech Republic, with a CAGR of +41.7%, saw the highest rates of growth with regard to 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 maleic anhydride export price amounted to $X per ton, growing by 66% against the previous year. Overall, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Turkey ($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 the Czech Republic (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Maleic Anhydride Imports

Imports into Hungary

In 2021, purchases abroad of maleic anhydride increased by 45% to X tons, rising for the second consecutive year after two years of decline. In general, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.2% 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 +48.9% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, maleic anhydride imports surged to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. 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

The Netherlands (X tons), Austria (X tons) and Bosnia and Herzegovina (X tons) were the main suppliers of maleic anhydride imports to Hungary, together comprising 88% of total imports. These countries were followed by Italy and Germany, which together accounted for a further 12%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +281.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of maleic anhydride to Hungary, comprising 49% of total imports. The second position in the ranking was held by Austria ($X), with a 19% share of total imports. It was followed by Bosnia and Herzegovina, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands stood at +25.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-9.0% per year) and Bosnia and Herzegovina (+14.1% per year).

Import Prices by Country

The average maleic anhydride import price stood at $X per ton in 2021, growing by 34% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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