Hungary: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Hungary

The Hungarian phosphoric acid market dropped markedly to $X in 2022, reducing by -21% 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). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Phosphoric acid consumption peaked at $X in 2021, and then shrank significantly in the following year.

Phosphoric Acid Exports

Exports from Hungary

In 2022, phosphoric acid exports from Hungary surged to X tons, rising by 167% against the previous year's figure. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 7,051% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, phosphoric acid exports amounted to $X in 2022. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 3,704%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Italy (X tons), Belgium (X tons) and Spain (X tons) were the main destinations of phosphoric acid exports from Hungary, with a combined 46% share of total exports. Ireland, Switzerland, the Czech Republic, Germany, Denmark, Poland, Israel, Austria, France and Romania lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +336.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for phosphoric acid exported from Hungary were Belgium ($X), Switzerland ($X) and Germany ($X), with a combined 48% share of total exports. Italy, the Czech Republic, Denmark, Spain, Austria, France, Ireland, Poland, Israel and Romania lagged somewhat behind, together accounting for a further 43%.

The Czech Republic, with a CAGR of +289.0%, recorded the highest growth rate of the value of exports, among 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 phosphoric acid export price stood at $X per ton in 2022, dropping by -61.3% against the previous year. Over the period under review, the export price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 115% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Ireland ($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 the Czech Republic (-10.9%), while the prices for the other major destinations experienced a decline.

Phosphoric Acid Imports

Imports into Hungary

In 2022, the amount of phosphoric acid and polyphosphoric acids imported into Hungary reduced markedly to X tons, with a decrease of -15.7% on the previous year's figure. The total import volume increased at an average annual rate of +2.8% over the period 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 2015 when imports increased by 36% against the previous year. Imports peaked at X tons in 2021, and then fell remarkably in the following year.

In value terms, phosphoric acid imports skyrocketed to $X in 2022. In general, imports, however, enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), Serbia (X tons) and Slovenia (X tons) were the main suppliers of phosphoric acid imports to Hungary, with a combined 52% share of total imports. China, Germany, Austria, the Czech Republic, Turkey, France, Belgium and Tunisia lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +71.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest phosphoric acid suppliers to Hungary were Poland ($X), Slovenia ($X) and Serbia ($X), together comprising 50% of total imports. China, Germany, Turkey, the Czech Republic, France, Belgium, Austria and Tunisia lagged somewhat behind, together accounting for a further 45%.

France, with a CAGR of +65.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average phosphoric acid import price stood at $X per ton in 2022, jumping by 121% against the previous year. Over the period under review, the import price posted buoyant growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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