Hungary: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Hungary

In 2021, the Hungarian reclaimed rubber market decreased by -19.8% to $X, falling for the second year in a row after two years of growth. In general, consumption saw a perceptible decrease. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Reclaimed Rubber Production in Hungary

In value terms, reclaimed rubber production skyrocketed to $X in 2021 estimated in export price. Overall, production continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2013 with an increase of 49% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Reclaimed Rubber Exports

Exports from Hungary

In 2021, overseas shipments of reclaimed rubber increased by 227% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 9,995%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, reclaimed rubber exports skyrocketed to $X in 2021. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2016 when exports increased by 12,667%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand (X tons) was the main destination for reclaimed rubber exports from Hungary, accounting for a 49% share of total exports. Moreover, reclaimed rubber exports to Thailand exceeded the volume sent to the second major destination, China (X tons), threefold. Malaysia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (0.0% per year) and Malaysia (+55.4% per year).

In value terms, the largest markets for reclaimed rubber exported from Hungary were China ($X), Thailand ($X) and Poland ($X), with a combined 66% share of total exports. These countries were followed by Serbia, Malaysia, Romania and Singapore, which together accounted for a further 21%.

In terms of the main countries of destination, Serbia, with a CAGR of +283.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average reclaimed rubber export price stood at $X per ton in 2021, declining by -32.6% against the previous year. In general, the export price faced a abrupt slump. The most prominent rate of growth was recorded in 2013 an increase of 63%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Malaysia ($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 Poland (+8.9%), while the prices for the other major destinations experienced a decline.

Reclaimed Rubber Imports

Imports into Hungary

In 2021, the amount of reclaimed rubber imported into Hungary soared to X tons, jumping by 75% on 2020. Overall, imports posted significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 710%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, reclaimed rubber imports soared to $X in 2021. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 1,065%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of reclaimed rubber to Hungary, with a 63% share of total imports. Moreover, reclaimed rubber imports from the Netherlands exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. Belgium (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled +157.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+22.7% per year) and Belgium (+156.8% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of reclaimed rubber to Hungary, comprising 67% of total imports. The second position in the ranking was held by India ($X), with a 13% share of total imports. It was followed by Belgium, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands amounted to +135.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+25.0% per year) and Belgium (+122.8% per year).

Import Prices by Country

The average reclaimed rubber import price stood at $X per ton in 2021, with a decrease of -14.6% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, reclaimed rubber import price decreased by -22.8% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 132%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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