Hungary: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Hungary

In 2021, the Hungarian market for oil and water paints and varnishes was finally on the rise to reach $X after four years of decline. Over the period under review, consumption, however, saw a abrupt contraction. Consumption of peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Exports of Oil And Water Paints And Varnishes

Exports from Hungary

In 2021, shipments abroad of oil and water paints and varnishes increased by 124% to X tons, rising for the third year in a row after five years of decline. Over the period under review, exports posted a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of oil and water paints and varnishes skyrocketed to $X in 2021. In general, exports showed resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 116% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Croatia (X tons), Austria (X tons) and Slovakia (X tons) were the main destinations of exports of oil and water paints and varnishes from Hungary, with a combined 78% share of total exports. The Czech Republic, Romania, Slovenia, Bulgaria and Germany lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Slovenia (with a CAGR of +246.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Croatia ($X), Austria ($X) and Slovakia ($X) were the largest markets for oil and water paints and varnishes exported from Hungary worldwide, with a combined 74% share of total exports. These countries were followed by Romania, the Czech Republic, Slovenia, Bulgaria and Germany, which together accounted for a further 22%.

Among the main countries of destination, Slovenia, with a CAGR of +203.4%, 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 export price for oil and water paints and varnishes amounted to $X per ton, waning by -42.3% against the previous year. Overall, the export price, however, enjoyed tangible growth. The growth pace was the most rapid in 2015 an increase of 52%. The export price peaked at $X per ton in 2020, and then reduced rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Slovakia ($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 the Netherlands (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oil And Water Paints And Varnishes

Imports into Hungary

In 2021, purchases abroad of oil and water paints and varnishes increased by 122% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, recorded a slight contraction. Over the period under review, imports of reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, imports of oil and water paints and varnishes soared to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports of attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Luxembourg (X tons), Germany (X tons) and Spain (X tons) were the main suppliers of imports of oil and water paints and varnishes to Hungary, with a combined 78% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Luxembourg (with a CAGR of +128.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest oil and water paints and varnishes suppliers to Hungary were Germany ($X), Luxembourg ($X) and the United States ($X), together accounting for 73% of total imports.

Among the main suppliers, Luxembourg, with a CAGR of +119.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for oil and water paints and varnishes amounted to $X per ton, which is down by -15.7% against the previous year. In general, import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for oil and water paints and varnishes increased by +55.5% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 52%. The import price peaked at $X per ton in 2020, and then reduced markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Austria ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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