Hungary: Peat Market 2022

Peat Market Size in Hungary

The Hungarian peat market skyrocketed to $X in 2021, with an increase of 22% against the previous year. Over the period under review, consumption, however, recorded a pronounced curtailment. Peat consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Peat Production in Hungary

In value terms, peat production totaled $X in 2021 estimated in export price. Overall, production saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when the production volume increased by 15% against the previous year. Peat production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Peat Exports

Exports from Hungary

After two years of growth, overseas shipments of peat decreased by -5.6% to X tons in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 26% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, peat exports expanded markedly to $X in 2021. Overall, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +101.5% against 2012 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 19%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Romania (X tons), Bosnia and Herzegovina (X tons) and Italy (X tons) were the main destinations of peat exports from Hungary, with a combined 59% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +77.1%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Italy ($X) and Slovenia ($X) constituted the largest markets for peat exported from Hungary worldwide, with a combined 56% share of total exports.

Italy, with a CAGR of +81.6%, 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

In 2021, the average peat export price amounted to $X per ton, surging by 17% against the previous year. In general, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, peat export price increased by +15.1% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 34%. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Serbia ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 Croatia (+18.9%), while the prices for the other major destinations experienced more modest paces of growth.

Peat Imports

Imports into Hungary

In 2021, approx. X tons of peat were imported into Hungary; surging by 9.8% on the previous year. Overall, imports recorded a tangible expansion. The growth pace was the most rapid in 2013 with an increase of 60% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, peat imports surged to $X in 2021. In general, imports posted a notable expansion. The pace of growth was the most pronounced in 2013 with an increase of 72% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Latvia (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of peat imports to Hungary, together comprising 65% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +36.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X), Germany ($X) and Poland ($X) constituted the largest peat suppliers to Hungary, with a combined 62% share of total imports.

Among the main suppliers, Poland, with a CAGR of +28.0%, saw the highest growth rate of 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 peat import price amounted to $X per ton, rising by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2020 an increase of 28% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for Poland ($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 (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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