Hungary: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Hungary

The Hungarian vulcanised rubber seal market fell to $X in 2022, which is down by -13.5% against the previous year. Overall, consumption, however, enjoyed prominent growth. Over the period under review, the market hit record highs at $X in 2021, and then declined in the following year.

Vulcanised Rubber Seal Production in Hungary

In value terms, vulcanised rubber seal production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 21% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Vulcanised Rubber Seal Exports

Exports from Hungary

In 2022, overseas shipments of seals of vulcanised rubber increased by 8.1% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 46% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, vulcanised rubber seal exports rose notably to $X in 2022. Overall, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +43.1% against 2020 indices. The growth pace was the most rapid in 2014 when exports increased by 37%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons), Austria (X tons) and Germany (X tons) were the main destinations of vulcanised rubber seal exports from Hungary, together comprising 83% of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +97.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Turkey ($X) and Austria ($X) constituted the largest markets for vulcanised rubber seal exported from Hungary worldwide, together comprising 62% of total exports.

Turkey, with a CAGR of +79.0%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average vulcanised rubber seal export price stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the export price saw a mild decrease. The pace of growth was the most pronounced in 2021 when the average export price increased by 39%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 Romania ($X per ton), while the average price for exports to Turkey ($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 Romania (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.

Vulcanised Rubber Seal Imports

Imports into Hungary

In 2022, after five years of growth, there was significant decline in supplies from abroad of seals of vulcanised rubber, when their volume decreased by -18.5% to X tons. Overall, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 48% against the previous year. Imports peaked at X tons in 2021, and then reduced rapidly in the following year.

In value terms, vulcanised rubber seal imports shrank to $X in 2022. The total import value increased at an average annual rate of +4.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 25% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Slovakia (X tons) constituted the largest vulcanised rubber seal supplier to Hungary, with a 40% share of total imports. Moreover, vulcanised rubber seal imports from Slovakia exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The Czech Republic (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Slovakia totaled +57.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.1% per year) and the Czech Republic (+31.8% per year).

In value terms, Germany ($X) constituted the largest supplier of seals of vulcanised rubber to Hungary, comprising 30% of total imports. The second position in the ranking was held by the Czech Republic ($X), with an 11% share of total imports. It was followed by Slovakia, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+19.9% per year) and Slovakia (+25.6% per year).

Import Prices by Country

In 2022, the average vulcanised rubber seal import price amounted to $X per ton, picking up by 14% against the previous year. In general, the import price, however, recorded a pronounced contraction. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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