Hungary: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in Hungary

The Hungarian market for palmitic acid, stearic acid, their salts and esters soared to $X in 2021, growing by 16% 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). Overall, consumption, however, showed a pronounced descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Exports from Hungary

Exports of palmitic acid, stearic acid, their salts and esters from Hungary dropped to X tons in 2021, declining by -7.4% against the previous year. Overall, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by 570% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2020, and then shrank in the following year.

In value terms, exports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. In general, exports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2014 when exports increased by 148% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Romania (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from Hungary, accounting for a 61% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to Romania exceeded the volume sent to the second major destination, Slovenia (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume to Romania totaled +48.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (0.0% per year) and Russia (+20.5% per year).

In value terms, Romania ($X) emerged as the key foreign market for palmitic acid, stearic acid, their salts and esters exports from Hungary, comprising 77% of total exports. The second position in the ranking was taken by Russia ($X), with a 10% share of total exports. It was followed by Slovenia, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value to Romania stood at +43.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+13.2% per year) and Slovenia (0.0% per year).

Export Prices by Country

The average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, surging by 133% against the previous year. Overall, the export price, however, saw a drastic downturn. The growth pace was the most rapid in 2017 when the average export price increased by 145% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Slovenia ($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 Ukraine (+3.3%), while the prices for the other major destinations experienced a decline.

Imports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Imports into Hungary

Imports of palmitic acid, stearic acid, their salts and esters into Hungary expanded rapidly to X tons in 2021, growing by 8.2% against the previous year's figure. Overall, imports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 10% against the previous year. Over the period under review, imports of hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. In general, imports, however, recorded a noticeable setback. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), Sweden (X tons) and Germany (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to Hungary, with a combined 72% share of total imports. Belgium, Turkey, Singapore, the Netherlands and the Czech Republic lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +152.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to Hungary, comprising 35% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by Sweden, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.6% per year) and Sweden (+48.4% per year).

Import Prices by Country

The average import price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, increasing by 8.8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 20%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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