Hungary: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Hungary

In 2021, the Hungarian nitric and sulphonitric acids market increased by 16% to $X, rising for the fourth year in a row after four years of decline. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Nitric Acid And Sulphonitric Acids in Hungary

In value terms, nitric and sulphonitric acids production rose significantly to $X in 2021 estimated in export price. Over the period under review, production showed a slight decrease. The most prominent rate of growth was recorded in 2018 with an increase of 33%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Nitric Acid And Sulphonitric Acids

Exports from Hungary

In 2021, overseas shipments of nitric acid and sulphonitric acids increased by 1.3% to X tons, rising for the third consecutive year after three years of decline. In general, exports, however, showed a perceptible contraction. The growth pace was the most rapid in 2014 when exports increased by 111%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, nitric and sulphonitric acids exports expanded markedly to $X in 2021. Overall, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 80% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Serbia (X tons), the Czech Republic (X tons) and Greece (X tons) were the main destinations of nitric and sulphonitric acids exports from Hungary, together accounting for 67% of total exports.

From 2012 to 2021, the biggest increases were recorded for Greece (with a CAGR of +20.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for nitric and sulphonitric acids exported from Hungary were Serbia ($X), the Czech Republic ($X) and Greece ($X), together comprising 54% of total exports.

Among the main countries of destination, Greece, with a CAGR of +26.3%, 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 mixed trend patterns.

Export Prices by Country

In 2021, the average nitric and sulphonitric acids export price amounted to $X per ton, rising by 7.3% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 39% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the 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 ($X per ton), while the average price for exports to the Czech Republic ($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 Slovakia (+23.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Hungary

In 2021, purchases abroad of nitric acid and sulphonitric acids increased by 6.6% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 1,699%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, nitric and sulphonitric acids imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a slight reduction. The pace of growth appeared the most rapid in 2016 with an increase of 1,133%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Czech Republic (X tons) constituted the largest nitric and sulphonitric acids supplier to Hungary, with a 70% share of total imports. Moreover, nitric and sulphonitric acids imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume from the Czech Republic totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+5.0% per year) and Germany (+23.1% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of nitric acid and sulphonitric acids to Hungary, comprising 67% of total imports. The second position in the ranking was taken by Poland ($X), with a 24% share of total imports. It was followed by Germany, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value from the Czech Republic amounted to +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+4.6% per year) and Germany (+25.9% per year).

Import Prices by Country

In 2021, the average nitric and sulphonitric acids import price amounted to $X per ton, increasing by 9.7% against the previous year. In general, the import price, however, continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2017 when the average import price increased by 13% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Slovakia ($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 (+2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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