Hungary: Plastic Box Market 2024

Plastic Box Market Size in Hungary

The Hungarian plastic box market declined slightly to $X in 2022, dropping by -2.9% against the previous year. Over the period under review, consumption, however, saw a pronounced curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Plastic Box Production in Hungary

In value terms, plastic box production fell sharply to $X in 2022 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +26.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by 54% against the previous year. As a result, production reached the peak level of $X, and then declined significantly in the following year.

Plastic Box Exports

Exports from Hungary

In 2022, shipments abroad of plastic boxes, cases, crates and similar packing articles decreased by -20.4% to X tons for the first time since 2011, thus ending a ten-year rising trend. Over the period under review, exports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2015 with an increase of 34% against the previous year. The exports peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, plastic box exports shrank rapidly to $X in 2022. In general, exports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2017 with an increase of 31%. Over the period under review, the exports reached the maximum at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Serbia (X tons), Austria (X tons) and Romania (X tons) were the main destinations of plastic box exports from Hungary, together accounting for 42% of total exports. Ukraine, Mexico, the UK, China, the United States, Bulgaria, Slovakia, North Macedonia, the Czech Republic and Turkey lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +98.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Serbia ($X) remains the key foreign market for plastic boxes, cases, crates and similar packing articles exports from Hungary, comprising 29% of total exports. The second position in the ranking was taken by Austria ($X), with a 12% share of total exports. It was followed by Romania, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Serbia stood at +63.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+33.0% per year) and Romania (+9.2% per year).

Export Prices by Country

The average plastic box export price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the export price, however, continues to indicate a mild decline. The growth pace was the most rapid in 2018 an increase of 12%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Ukraine ($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 United States (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Box Imports

Imports into Hungary

For the fourth consecutive year, Hungary recorded growth in overseas purchases of plastic boxes, cases, crates and similar packing articles, which increased by 1.5% to X tons in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +98.9% against 2012 indices. The growth pace was the most rapid in 2017 when imports increased by 23%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, plastic box imports dropped slightly to $X in 2022. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by 33% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then fell slightly in the following year.

Imports by Country

Poland (X tons), Turkey (X tons) and Serbia (X tons) were the main suppliers of plastic box imports to Hungary, together accounting for 46% of total imports. The Czech Republic, Germany, Ukraine, Slovakia, South Korea, Denmark, Croatia, Mexico, China and Italy lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Croatia (with a CAGR of +80.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic box suppliers to Hungary were Poland ($X), Serbia ($X) and Turkey ($X), with a combined 45% share of total imports. Germany, the Czech Republic, South Korea, China, Denmark, Slovakia, Mexico, Italy, Ukraine and Croatia lagged somewhat behind, together comprising a further 38%.

Among the main suppliers, Mexico, with a CAGR of +73.9%, recorded the highest rates of growth with regard to 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 2022, the average plastic box import price amounted to $X per ton, dropping by -3.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2018 when the average import price increased by 14%. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Croatia ($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 (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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