Hungary: Propylene Glycol Market 2024

Propylene Glycol Market Size in Hungary

The Hungarian propylene glycol market fell modestly to $X in 2022, reducing by -1.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate buoyant growth. Propylene glycol consumption peaked at $X in 2021, and then dropped slightly in the following year.

Propylene Glycol Exports

Exports from Hungary

In 2022, overseas shipments of propylene glycol (propane-1,2-diol) decreased by -73.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 815%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted markedly in the following year.

In value terms, propylene glycol exports shrank notably to $X in 2022. In general, exports, however, saw a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 919% against the previous year. The exports peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Germany (X tons) was the main destination for propylene glycol exports from Hungary, accounting for a 67% share of total exports. Moreover, propylene glycol exports to Germany exceeded the volume sent to the second major destination, Slovakia (X tons), fourfold. The third position in this ranking was taken by France (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +185.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+13.7% per year) and France (0.0% per year).

In value terms, the largest markets for propylene glycol exported from Hungary were France ($X), Slovakia ($X) and Germany ($X), together accounting for 92% of total exports.

Germany, with a CAGR of +42.8%, saw the highest rates of growth with regard to 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 propylene glycol export price amounted to $X per ton, shrinking by -20.8% against the previous year. Overall, the export price saw a abrupt downturn. The pace of growth was the most pronounced in 2017 when the average export price increased by 40%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Germany ($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 the Czech Republic (+48.9%), while the prices for the other major destinations experienced a decline.

Propylene Glycol Imports

Imports into Hungary

In 2022, the amount of propylene glycol (propane-1,2-diol) imported into Hungary declined dramatically to X tons, dropping by -25.6% against the year before. In general, imports, however, continue to indicate a modest increase. The most prominent rate of growth was recorded in 2019 when imports increased by 53%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, propylene glycol imports expanded slightly to $X in 2022. Over the period under review, imports, however, showed prominent growth. The pace of growth appeared the most rapid in 2018 when imports increased by 70% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of propylene glycol imports to Hungary, together comprising 79% of total imports. Romania, Belgium, South Korea and France lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +198.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest propylene glycol suppliers to Hungary were the Netherlands ($X), Germany ($X) and Poland ($X), with a combined 79% share of total imports. Romania, Belgium, South Korea and France lagged somewhat behind, together accounting for a further 15%.

In terms of the main suppliers, South Korea, with a CAGR of +244.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average propylene glycol import price stood at $X per ton in 2022, with an increase of 37% against the previous year. In general, the import price continues to indicate prominent growth. The pace of growth appeared the most rapid in 2021 when the average import price increased by 51% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Germany ($X per ton), while the price for Belgium ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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