Hungary: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Hungary

In 2022, the Hungarian polypropylene in primary forms market increased by 0.3% to $X, rising for the second consecutive year after two years of decline. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Polypropylene in Primary Forms in Hungary

In value terms, polypropylene in primary forms production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 24%. Polypropylene in primary forms production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Polypropylene in Primary Forms

Exports from Hungary

In 2022, overseas shipments of polypropylene in primary forms increased by 7.9% to X tons, rising for the third year in a row after two years of decline. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +23.3% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 39%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, polypropylene in primary forms exports shrank modestly to $X in 2022. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 75% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Italy (X tons), Poland (X tons) and Germany (X tons) were the main destinations of polypropylene in primary forms exports from Hungary, together accounting for 41% of total exports. Romania, Austria, Slovakia, Ukraine, the Netherlands, the Czech Republic, Slovenia, Lithuania, Belgium and Turkey lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +54.9%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Italy ($X) and Germany ($X) were the largest markets for polypropylene in primary forms exported from Hungary worldwide, together accounting for 43% of total exports. Romania, Slovakia, Austria, Ukraine, the Netherlands, the Czech Republic, Lithuania, Slovenia, Belgium and Turkey lagged somewhat behind, together comprising a further 42%.

Belgium, with a CAGR of +49.0%, saw 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

In 2022, the average polypropylene in primary forms export price amounted to $X per ton, waning by -9.3% against the previous year. In general, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polypropylene in primary forms export price increased by +54.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 70%. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

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 Slovakia ($X per ton), while the average price for exports to the Netherlands ($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 Slovakia (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polypropylene in Primary Forms

Imports into Hungary

In 2022, overseas purchases of polypropylene in primary forms increased by 2.7% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.7% 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 +82.1% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 77%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, polypropylene in primary forms imports rose sharply to $X in 2022. Overall, imports showed a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 127% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Poland (X tons) constituted the largest polypropylene in primary forms supplier to Hungary, accounting for a 24% share of total imports. Moreover, polypropylene in primary forms imports from Poland exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume from Poland amounted to +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+6.1% per year) and Belgium (+19.6% per year).

In value terms, Poland ($X) constituted the largest supplier of polypropylene in primary forms to Hungary, comprising 23% of total imports. The second position in the ranking was held by the Czech Republic ($X), with an 11% share of total imports. It was followed by Germany, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value from Poland totaled +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+8.1% per year) and Germany (+1.0% per year).

Import Prices by Country

In 2022, the average polypropylene in primary forms import price amounted to $X per ton, picking up by 3.3% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 28% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 France ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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