Hungary: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Hungary

In 2022, the Hungarian non-aqueous paint and varnish market increased by 7.9% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Non-aqueous paint and varnish consumption peaked in 2022 and is likely to continue growth in years to come.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Hungary

In value terms, non-aqueous paint and varnish production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of 34% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports from Hungary

In 2022, exports of paints and varnishes dispersed or dissolved in a non-aqueous medium from Hungary shrank dramatically to X tons, declining by -22.6% compared with the year before. In general, exports recorded a mild decline. The pace of growth was the most pronounced in 2014 with an increase of 18% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, non-aqueous paint and varnish exports declined to $X in 2022. The total export value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 34% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The Czech Republic (X tons), Romania (X tons) and Croatia (X tons) were the main destinations of non-aqueous paint and varnish exports from Hungary, together comprising 58% of total exports. Serbia, Austria, Slovakia, Italy, Ukraine, Poland, Slovenia, Turkey, France and Germany lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +51.5%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), the Czech Republic ($X) and Croatia ($X) constituted the largest markets for non-aqueous paint and varnish exported from Hungary worldwide, together accounting for 53% of total exports. Slovakia, Italy, Serbia, Austria, France, Turkey, Germany, Slovenia, Ukraine and Poland lagged somewhat behind, together comprising a further 37%.

Among the main countries of destination, Turkey, with a CAGR of +40.4%, 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

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, surging by 26% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.7%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 31%. The export price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports into Hungary

For the eleventh year in a row, Hungary recorded growth in purchases abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium, which increased by 0.9% to X tons in 2022. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when imports increased by 11% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, non-aqueous paint and varnish imports rose slightly to $X in 2022. The total import value increased at an average annual rate of +4.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

Germany (X tons), Italy (X tons) and Poland (X tons) were the main suppliers of non-aqueous paint and varnish imports to Hungary, together comprising 57% of total imports. France, Austria, the Czech Republic, Spain and Turkey lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +8.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Hungary, comprising 31% of total imports. The second position in the ranking was held by Italy ($X), with a 14% share of total imports. It was followed by Poland, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.1% per year) and Poland (+5.6% per year).

Import Prices by Country

In 2022, the average non-aqueous paint and varnish import price amounted to $X per ton, picking up by 2.6% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 15% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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