Hungary: Prisms And Mirrors Market 2024

Prisms And Mirrors Market Size in Hungary

In 2022, after ten years of growth, there was significant decline in the Hungarian prisms and mirrors market, when its value decreased by -48.9% to $X. Overall, consumption, however, showed a significant expansion. Over the period under review, the market attained the maximum level at $X in 2021, and then contracted dramatically in the following year.

Prisms And Mirrors Production in Hungary

In value terms, prisms and mirrors production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a significant curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 4% against the previous year. Prisms and mirrors production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Prisms And Mirrors Exports

Exports from Hungary

In 2022, the amount of prisms and mirrors exported from Hungary totaled X tons, increasing by 9.3% on the previous year. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 271%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, prisms and mirrors exports surged to $X in 2022. Overall, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.5% 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 +107.3% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Slovakia (X tons), the United States (X tons) and Vietnam (X tons) were the main destinations of prisms and mirrors exports from Hungary, with a combined 63% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +275.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for prisms and mirrors exports from Hungary, comprising 41% of total exports. The second position in the ranking was taken by Slovakia ($X), with a 17% share of total exports. It was followed by the United States, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+25.5% per year) and the United States (+21.9% per year).

Export Prices by Country

The average prisms and mirrors export price stood at $X per ton in 2022, increasing by 8.5% against the previous year. In general, the export price, however, faced a deep downturn. The pace of growth was the most pronounced in 2017 an increase of 81% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Egypt ($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 South Korea (+57.2%), while the prices for the other major destinations experienced more modest paces of growth.

Prisms And Mirrors Imports

Imports into Hungary

After ten years of growth, purchases abroad of prisms and mirrors decreased by -49% to X tons in 2022. In general, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 156% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank rapidly in the following year.

In value terms, prisms and mirrors imports dropped markedly to $X in 2022. Over the period under review, imports, however, posted a significant expansion. The growth pace was the most rapid in 2013 when imports increased by 190%. Imports peaked at $X in 2021, and then fell sharply in the following year.

Imports by Country

In 2022, South Korea (X tons) constituted the largest prisms and mirrors supplier to Hungary, with a 71% share of total imports. Moreover, prisms and mirrors imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea amounted to +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+63.6% per year) and Vietnam (+268.1% per year).

In value terms, South Korea ($X) constituted the largest supplier of prisms and mirrors to Hungary, comprising 62% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea stood at +27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+50.9% per year) and Vietnam (+303.1% per year).

Import Prices by Country

The average prisms and mirrors import price stood at $X per ton in 2022, growing by 24% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average import price increased by 128%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+9.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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