Hungary: Polystyrene Market 2024

Polystyrene Market Size in Hungary

The Hungarian polystyrene market surged to $X in 2022, picking up by 39% against the previous year. Overall, consumption recorded resilient growth. Polystyrene consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Polystyrene Production in Hungary

In value terms, polystyrene production stood at $X in 2022 estimated in export price. Overall, production recorded a pronounced reduction. The most prominent rate of growth was recorded in 2015 with an increase of 30% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Polystyrene Exports

Exports from Hungary

In 2022, exports of polystyrene from Hungary declined to X tons, falling by -13% on the year before. Over the period under review, exports continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 23% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, polystyrene exports declined to $X in 2022. Overall, exports continue to indicate a mild contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 60% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Italy (X tons), Poland (X tons) and Germany (X tons) were the main destinations of polystyrene exports from Hungary, together comprising 49% of total exports. Romania, Serbia, France, Malaysia, Turkey, Spain, Slovakia, Ukraine, Lithuania and Austria lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +470.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Italy ($X) and Germany ($X) appeared to be the largest markets for polystyrene exported from Hungary worldwide, with a combined 52% share of total exports. Serbia, Romania, France, Spain, Slovakia, Austria, Ukraine, Turkey, Lithuania and Malaysia lagged somewhat behind, together comprising a further 37%.

Malaysia, with a CAGR of +239.2%, recorded 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 2022, the average polystyrene export price amounted to $X per ton, picking up by 8.7% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 68% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Malaysia ($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 Spain (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Polystyrene Imports

Imports into Hungary

In 2022, imports of polystyrene into Hungary dropped slightly to X tons, which is down by -1.9% compared with the previous year. In general, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +31.2% against 2015 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 26% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined modestly in the following year.

In value terms, polystyrene imports amounted to $X in 2022. Overall, imports, however, recorded a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by 89%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of polystyrene to Hungary, accounting for a 36% share of total imports. Moreover, polystyrene imports from Germany exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. Iran (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+96.2% per year) and Iran (+119.8% per year).

In value terms, Germany ($X) constituted the largest supplier of polystyrene to Hungary, comprising 36% of total imports. The second position in the ranking was taken by Turkey ($X), with a 9.8% share of total imports. It was followed by Iran, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+82.6% per year) and Iran (+137.5% per year).

Import Prices by Country

In 2022, the average polystyrene import price amounted to $X per ton, picking up by 16% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polystyrene import price increased by +99.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 72%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Austria ($X per ton) and Italy ($X per ton), while the price for Iran ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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