Hungary: Silicates Market 2024

Silicates Market Size in Hungary

The Hungarian silicates market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, recorded a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Silicates Production in Hungary

In value terms, silicates production rose significantly to $X in 2021 estimated in export price. In general, production, however, faced a sharp descent. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Silicates Exports

Exports from Hungary

In 2021, exports of silicates, commercial alkali metal silicates from Hungary shrank to X tons, which is down by -10.7% on the previous year. Over the period under review, exports, however, posted a moderate increase. The most prominent rate of growth was recorded in 2020 with an increase of 123% against the previous year. As a result, the exports reached the peak of X tons, and then declined in the following year.

In value terms, silicates exports surged to $X in 2021. Overall, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by 193% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons), Romania (X tons) and Georgia (X tons) were the main destinations of silicates exports from Hungary, together comprising 64% of total exports. Belarus, China, the United States, Australia, Montenegro and Slovakia lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +131.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Romania ($X) and China ($X) were the largest markets for silicates exported from Hungary worldwide, with a combined 48% share of total exports. These countries were followed by Australia, Belarus, Georgia, the United States, Montenegro and Slovakia, which together accounted for a further 32%.

The United States, with a CAGR of +243.3%, recorded the highest growth rate of 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 2021, the average silicates export price amounted to $X per ton, rising by 33% against the previous year. In general, the export price enjoyed resilient growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by 74% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 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 Australia ($X per ton), while the average price for exports to Romania ($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 the United States (+48.4%), while the prices for the other major destinations experienced more modest paces of growth.

Silicates Imports

Imports into Hungary

In 2021, approx. X tons of silicates, commercial alkali metal silicates were imported into Hungary; picking up by 12% against the year before. In general, imports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2013 with an increase of 27% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, silicates imports surged to $X in 2021. Over the period under review, imports, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2013 with an increase of 34%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Poland (X tons) constituted the largest silicates supplier to Hungary, with a 56% share of total imports. Moreover, silicates imports from Poland exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. The third position in this ranking was taken by the Czech Republic (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Poland amounted to -6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.6% per year) and the Czech Republic (+46.6% per year).

In value terms, Poland ($X), Italy ($X) and the Czech Republic ($X) appeared to be the largest silicates suppliers to Hungary, together comprising 76% of total imports.

The Czech Republic, with a CAGR of +44.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average silicates import price amounted to $X per ton, surging by 3.2% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 6% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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