Hungary: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in Hungary

In 2022, the Hungarian salts of acetic acid market decreased by -1.6% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +6.7% against 2018 indices. Salts of acetic acid consumption peaked at $X in 2021, and then dropped in the following year.

Exports of Salts Of Acetic Acid

Exports from Hungary

In 2022, shipments abroad of salts of acetic acid increased by 74% to X tons, rising for the third year in a row after two years of decline. In general, exports saw buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by 339%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, salts of acetic acid exports skyrocketed to $X in 2022. Over the period under review, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 189% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for salts of acetic acid exports from Hungary, accounting for a 80% share of total exports. Moreover, salts of acetic acid exports to the Netherlands exceeded the volume sent to the second major destination, Egypt (X tons), tenfold. Romania (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands stood at +233.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+104.8% per year) and Romania (-10.2% per year).

In value terms, the Netherlands ($X) remains the key foreign market for salts of acetic acid exports from Hungary, comprising 81% of total exports. The second position in the ranking was held by Egypt ($X), with a 6.5% share of total exports. It was followed by Romania, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to +250.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+70.1% per year) and Romania (-11.0% per year).

Export Prices by Country

The average salts of acetic acid export price stood at $X per ton in 2022, growing by 26% against the previous year. Overall, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, salts of acetic acid export price decreased by -39.6% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of 62%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Romania ($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 Colombia (+36.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Salts Of Acetic Acid

Imports into Hungary

In 2022, approx. X tons of salts of acetic acid were imported into Hungary; approximately equating the previous year's figure. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 29% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, salts of acetic acid imports totaled $X in 2022. In general, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 59%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Poland (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of salts of acetic acid imports to Hungary, with a combined 78% share of total imports. Slovakia, Germany, the United States and the UK lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +529.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Poland ($X) and the Netherlands ($X) constituted the largest salts of acetic acid suppliers to Hungary, with a combined 82% share of total imports. Slovakia, Germany, the United States and the UK lagged somewhat behind, together comprising a further 14%.

Slovakia, with a CAGR of +513.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average salts of acetic acid import price stood at $X per ton in 2022, picking up by 1.6% against the previous year. Over the period under review, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, salts of acetic acid import price increased by +47.4% against 2014 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 29% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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