Hungary: Prepared Binders Market 2024

Prepared Binders Market Size in Hungary

After three years of decline, the Hungarian prepared binders market increased by 12% to $X in 2021. Over the period under review, consumption, however, saw a pronounced slump. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Prepared Binders Exports

Exports from Hungary

In 2021, overseas shipments of prepared binders for foundry moulds or cores decreased by -89.9% to X tons, falling for the second year in a row after three years of growth. Overall, exports recorded a slight decrease. The most prominent rate of growth was recorded in 2019 with an increase of 1,208%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, prepared binders exports reached $X in 2021. In general, exports continue to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by 189%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Croatia (X tons) was the main destination for prepared binders exports from Hungary, accounting for a 46% share of total exports. Moreover, prepared binders exports to Croatia exceeded the volume sent to the second major destination, Romania (X tons), twofold. Serbia (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Croatia stood at +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+3.2% per year) and Serbia (-20.7% per year).

In value terms, Croatia ($X) remains the key foreign market for prepared binders for foundry moulds or cores exports from Hungary, comprising 49% of total exports. The second position in the ranking was held by Ukraine ($X), with a 23% share of total exports. It was followed by Serbia, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Croatia stood at +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+35.2% per year) and Serbia (-24.6% per year).

Export Prices by Country

The average prepared binders export price stood at $X per ton in 2021, rising by 923% against the previous year. In general, the export price, however, continues to indicate a perceptible downturn. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Ukraine ($X per ton), while the average price for exports to the Netherlands ($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 Germany (+28.6%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Binders Imports

Imports into Hungary

In 2021, overseas purchases of prepared binders for foundry moulds or cores were finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, showed a slight descent. The most prominent rate of growth was recorded in 2017 with an increase of 33% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, prepared binders imports contracted sharply to $X in 2021. Overall, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 87%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest prepared binders supplier to Hungary, with a 86% share of total imports. Moreover, prepared binders imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X tons), more than tenfold. The third position in this ranking was taken by Italy (X tons), with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-7.7% per year) and Italy (-19.1% per year).

In value terms, Germany ($X) constituted the largest supplier of prepared binders for foundry moulds or cores to Hungary, comprising 55% of total imports. The second position in the ranking was taken by Austria ($X), with a 27% share of total imports. It was followed by Italy, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-6.4% per year) and Italy (-16.4% per year).

Import Prices by Country

In 2021, the average prepared binders import price amounted to $X per ton, with a decrease of -39.1% against the previous year. In general, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 41%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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