Hungary: Other Chemical Products Market 2024

Other Chemical Products Market Size in Hungary

The Hungarian other chemical products market contracted to $X in 2022, which is down by -2.9% against the previous year. Over the period under review, consumption continues to indicate a abrupt decrease. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Other Chemical Products Production in Hungary

In value terms, other chemical products production declined sharply to $X in 2022 estimated in export price. Over the period under review, production faced a sharp decrease. The pace of growth appeared the most rapid in 2017 when the production volume increased by 8.4%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Other Chemical Products Exports

Exports from Hungary

In 2016, overseas shipments of other chemical products decreased by -3.6% to X tons, falling for the second consecutive year after three years of growth. In general, total exports indicated buoyant growth from 2012 to 2016: its volume increased at an average annual rate of +5.2% over the last four-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2016 figures, exports decreased by -29.6% against 2014 indices. The pace of growth appeared the most rapid in 2013 with an increase of 33% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2016, the exports failed to regain momentum.

In value terms, other chemical products exports reduced to $X in 2016. Over the period under review, total exports indicated buoyant growth from 2012 to 2016: its value increased at an average annual rate of +8.7% over the last four years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2016 figures, exports decreased by -26.0% against 2014 indices. The pace of growth was the most pronounced in 2013 with an increase of 53% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2016, the exports stood at a somewhat lower figure.

Exports by Country

Switzerland (X tons), Romania (X tons) and Ukraine (X tons) were the main destinations of other chemical products exports from Hungary, together accounting for 54% of total exports. The UK, Slovakia, Austria, the Czech Republic, Italy and Russia lagged somewhat behind, together comprising a further 31%.

From 2012 to 2016, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +197.3%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) remains the key foreign market for other chemical products exports from Hungary, comprising 23% of total exports. The second position in the ranking was taken by Romania ($X), with an 8% share of total exports. It was followed by Switzerland, with a 7% share.

From 2012 to 2016, the average annual growth rate of value to the UK totaled +191.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+26.8% per year) and Switzerland (+4.7% per year).

Export Prices by Country

The average other chemical products export price stood at $X per ton in 2016, shrinking by -11.1% against the previous year. Over the period from 2012 to 2016, it increased at an average annual rate of +3.3%. The growth pace was the most rapid in 2015 an increase of 18% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices for the major foreign markets. In 2016, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2016, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+40.9%), while the prices for the other major destinations experienced more modest paces of growth.

Other Chemical Products Imports

Imports into Hungary

After two years of decline, purchases abroad of other chemical products increased by 17% to X tons in 2016. The total import volume increased at an average annual rate of +6.1% over the period from 2012 to 2016; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, other chemical products imports expanded remarkably to $X in 2016. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2016; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 9.1%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2016, imports failed to regain momentum.

Imports by Country

In 2016, Germany (X tons) constituted the largest supplier of other chemical products to Hungary, accounting for a 33% share of total imports. Moreover, other chemical products imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 12% share.

From 2012 to 2016, the average annual rate of growth in terms of volume from Germany totaled -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1.1% per year) and Italy (+18.7% per year).

In value terms, Germany ($X) constituted the largest supplier of other chemical products to Hungary, comprising 40% of total imports. The second position in the ranking was taken by France ($X), with a 9.7% share of total imports. It was followed by the Netherlands, with a 7.4% share.

From 2012 to 2016, the average annual rate of growth in terms of value from Germany stood at -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+3.8% per year) and the Netherlands (+5.6% per year).

Import Prices by Country

The average other chemical products import price stood at $X per ton in 2016, falling by -8.1% against the previous year. Over the period under review, the import price continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2014 an increase of 1.1%. The import price peaked at $X per ton in 2012; however, from 2013 to 2016, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2016, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2016, the most notable rate of growth in terms of prices was attained by Slovakia (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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