Hungary: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Hungary

The Hungarian market for oxides of boron and boric acids soared to $X in 2021, picking up by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -21.3% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Exports of Oxides Of Boron and Boric Acids

Exports from Hungary

In 2021, the amount of oxides of boron and boric acids exported from Hungary skyrocketed to X tons, jumping by 32% against 2020. In general, exports enjoyed a mild increase. The most prominent rate of growth was recorded in 2014 when exports increased by 2,143% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, boron oxide and boric acid exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2015 when exports increased by 1,933%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

France (X tons) was the main destination for boron oxide and boric acid exports from Hungary, with a 69% share of total exports. Moreover, boron oxide and boric acid exports to France exceeded the volume sent to the second major destination, Denmark (X kg), sevenfold. The third position in this ranking was held by the Netherlands (X kg), with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+4.5% per year) and the Netherlands (-23.6% per year).

In value terms, France ($X), Denmark ($X) and the Netherlands ($X) were the largest markets for boron oxide and boric acid exported from Hungary worldwide, together comprising 78% of total exports.

Denmark, with a CAGR of +56.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for oxides of boron and boric acids stood at $X per ton in 2021, rising by 57% against the previous year. Overall, the export price, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 an increase of 83% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Serbia ($X per ton), while the average price for exports to Croatia ($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 Denmark (+49.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oxides Of Boron and Boric Acids

Imports into Hungary

In 2021, imports of oxides of boron and boric acids into Hungary rose to X tons, surging by 2.3% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 43% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, boron oxide and boric acid imports surged to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 34%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Poland (X tons), the Netherlands (X tons) and Italy (X tons) were the main suppliers of boron oxide and boric acid imports to Hungary, with a combined 90% share of total imports. South Korea lagged somewhat behind, accounting for a further 6.8%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +130.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of oxides of boron and boric acids to Hungary, comprising 62% of total imports. The second position in the ranking was taken by Poland ($X), with a 16% share of total imports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from South Korea amounted to +143.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+0.1% per year) and the Netherlands (+116.2% per year).

Import Prices by Country

The average import price for oxides of boron and boric acids stood at $X per ton in 2021, surging by 24% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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