Hungary: O-Xylene Market 2024

O-Xylene Market Size in Hungary

The Hungarian o-xylene market soared to $X in 2022, picking up by 16% against the previous year. Over the period under review, consumption, however, saw a dramatic downturn. O-xylene consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

O-Xylene Production in Hungary

In value terms, o-xylene production declined to $X in 2022 estimated in export price. In general, production continues to indicate a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 8.6% against the previous year. O-xylene production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

O-Xylene Exports

Exports from Hungary

O-xylene exports from Hungary dropped modestly to X tons in 2022, reducing by -3.4% on the previous year's figure. The total export volume increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when exports increased by 27%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, o-xylene exports soared to $X in 2022. In general, exports, however, saw measured growth. The pace of growth was the most pronounced in 2021 with an increase of 61%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Austria (X tons), Italy (X tons) and Bulgaria (X tons) were the main destinations of o-xylene exports from Hungary, with a combined 95% share of total exports. The Czech Republic and Ukraine lagged somewhat behind, together comprising a further 4.8%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +93.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for o-xylene exported from Hungary were Austria ($X), Italy ($X) and Bulgaria ($X), together accounting for 95% of total exports. The Czech Republic and Ukraine lagged somewhat behind, together comprising a further 4%.

Among the main countries of destination, Ukraine, with a CAGR of +104.1%, saw 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

The average o-xylene export price stood at $X per ton in 2022, surging by 60% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and Bulgaria ($X per ton), while the average price for exports to Ukraine ($X per ton) and the Czech Republic ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

O-Xylene Imports

Imports into Hungary

In 2022, the amount of o-xylene imported into Hungary totaled X kg, picking up by 10% against 2021 figures. In general, imports, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 2,544%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, o-xylene imports reached $X in 2022. Over the period under review, imports, however, showed a mild contraction. The most prominent rate of growth was recorded in 2013 with an increase of 839% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Germany (X kg) was the main o-xylene supplier to Hungary, with a 94% share of total imports. Moreover, o-xylene imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-13.1% per year) and France (+8.0% per year).

In value terms, Germany ($X) constituted the largest supplier of o-xylene to Hungary, comprising 74% of total imports. The second position in the ranking was taken by Italy ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Germany totaled -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.1% per year) and France (+41.4% per year).

Import Prices by Country

In 2022, the average o-xylene import price amounted to $X per ton, stabilizing at the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 112% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+31.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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