Hungary: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Hungary

In 2021, the Hungarian plastic furniture fittings market decreased by -2.3% to $X, falling for the second year in a row after three years of growth. In general, consumption recorded a significant increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Plastic Furniture Fittings Production in Hungary

In value terms, plastic furniture fittings production shrank modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -29.0% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 65% against the previous year. Plastic furniture fittings production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Plastic Furniture Fittings Exports

Exports from Hungary

In 2021, overseas shipments of plastic fittings for furniture increased by 9.7% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -25.3% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 49%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, plastic furniture fittings exports expanded rapidly to $X in 2021. The total export value increased at an average annual rate of +6.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 38%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for plastic furniture fittings exports from Hungary, accounting for a 39% share of total exports. Moreover, plastic furniture fittings exports to Germany exceeded the volume sent to the second major destination, Slovakia (X tons), fourfold. The third position in this ranking was taken by Portugal (X tons), with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany amounted to +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+15.9% per year) and Portugal (+65.0% per year).

In value terms, Germany ($X) remains the key foreign market for plastic fittings for furniture exports from Hungary, comprising 33% of total exports. The second position in the ranking was taken by Slovakia ($X), with an 11% share of total exports. It was followed by the Czech Republic, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+23.0% per year) and the Czech Republic (+19.1% per year).

Export Prices by Country

In 2021, the average plastic furniture fittings export price amounted to $X per ton, rising by 3.9% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 24%. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Portugal ($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 Slovakia (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Fittings Imports

Imports into Hungary

In 2021, approx. X tons of plastic fittings for furniture were imported into Hungary; increasing by 12% against 2020 figures. Over the period under review, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 124%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, plastic furniture fittings imports reached $X in 2021. Overall, imports showed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 160%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X tons), the Czech Republic (X tons) and Poland (X tons) were the main suppliers of plastic furniture fittings imports to Hungary, together accounting for 76% of total imports. These countries were followed by Slovakia, China, Spain, Austria, Italy, Japan and France, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +38.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Slovakia ($X) and the Czech Republic ($X) constituted the largest plastic furniture fittings suppliers to Hungary, together comprising 77% of total imports. These countries were followed by Poland, China, Japan, Spain, Austria, France and Italy, which together accounted for a further 17%.

China, with a CAGR of +44.1%, recorded 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 plastic furniture fittings import price stood at $X per ton in 2021, reducing by -6.3% against the previous year. Over the period under review, the import price recorded a noticeable decrease. The pace of growth was the most pronounced in 2014 when the average import price increased by 58%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Slovakia ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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