Hungary: Propene Market 2024

Propene Market Size in Hungary

In 2021, the Hungarian propene market increased by 4.3% to $X, rising for the second consecutive year after seven years of decline. Overall, consumption continues to indicate a abrupt contraction. Propene consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Propene Production in Hungary

In value terms, propene production rose remarkably to $X in 2021 estimated in export price. In general, production saw a deep contraction. Propene production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Propene Exports

Exports from Hungary

In 2021, shipments abroad of propene (propylene) decreased by -9.9% to X tons, falling for the third consecutive year after two years of growth. In general, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -18.1% against 2018 indices. The growth pace was the most rapid in 2014 when exports increased by 29%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, propene exports surged to $X in 2021. Overall, total exports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by 51% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Slovakia (X tons) was the main destination for propene exports from Hungary, with a 90% share of total exports. Moreover, propene exports to Slovakia exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. Romania (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Slovakia stood at +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+10.1% per year) and Romania (-9.0% per year).

In value terms, Slovakia ($X) remains the key foreign market for propene (propylene) exports from Hungary, comprising 90% of total exports. The second position in the ranking was taken by Germany ($X), with a 6.3% share of total exports. It was followed by Romania, with a 1.9% share.

From 2012 to 2021, the average annual growth rate of value to Slovakia stood at +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+9.4% per year) and Romania (-8.9% per year).

Export Prices by Country

In 2021, the average propene export price amounted to $X per ton, jumping by 59% against the previous year. Overall, the export price, however, saw a mild curtailment. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Romania ($X per ton) and Slovakia ($X per ton), while the average price for exports to Germany ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+0.7%), while the prices for the other major destinations experienced mixed trend patterns.

Propene Imports

Imports into Hungary

Propene imports into Hungary shrank notably to X tons in 2021, with a decrease of -92.1% on the previous year. In general, imports showed a sharp curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 229,650% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, propene imports expanded sharply to $X in 2021. Overall, imports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2014 with an increase of 105,805% against the previous year. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X tons), Austria (X tons) and France (X kg) were the main suppliers of propene imports to Hungary, with a combined 89% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +38.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X) constituted the largest supplier of propene (propylene) to Hungary, comprising 73% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by France, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Austria totaled +92.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+17.1% per year) and France (+47.0% per year).

Import Prices by Country

The average propene import price stood at $X per ton in 2021, picking up by 1,261% against the previous year. Over the period under review, the import price posted a significant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+42.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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