Hungary: Mineral Wool Market 2024

Mineral Wool Market Size in Hungary

The Hungarian mineral wool market soared to $X in 2021, increasing by 43% against the previous year. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +50.2% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Mineral Wool Production in Hungary

In value terms, mineral wool production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Mineral Wool Exports

Exports from Hungary

Mineral wool exports from Hungary dropped sharply to X tons in 2021, waning by -23.7% compared with the previous year. In general, exports saw a deep reduction. The pace of growth appeared the most rapid in 2019 with an increase of 32% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, mineral wool exports declined to $X in 2021. Overall, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 10% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Romania (X tons), the Czech Republic (X tons) and Austria (X tons) were the main destinations of mineral wool exports from Hungary, with a combined 46% share of total exports. These countries were followed by Germany, Poland, Italy, Bulgaria, Slovakia, Serbia, Turkey and Greece, which together accounted for a further 43%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +77.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mineral wool exported from Hungary were Germany ($X), Austria ($X) and Romania ($X), with a combined 55% share of total exports. The Czech Republic, Poland, Bulgaria, Italy, Slovakia, Serbia, Turkey and Greece lagged somewhat behind, together comprising a further 34%.

Among the main countries of destination, Poland, with a CAGR of +70.3%, recorded 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

In 2021, the average mineral wool export price amounted to $X per ton, growing by 23% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Slovakia ($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 Serbia (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Mineral Wool Imports

Imports into Hungary

In 2021, after two years of decline, there was significant growth in supplies from abroad of slag wool, rock wool and similar mineral wools and mixtures, when their volume increased by 33% to X tons. Overall, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, mineral wool imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +11.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 81% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Turkey (X tons), Slovakia (X tons) and Poland (X tons) were the main suppliers of mineral wool imports to Hungary, with a combined 66% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +218.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of slag wool, rock wool and similar mineral wools and mixtures to Hungary, comprising 44% of total imports. The second position in the ranking was held by Poland ($X), with a 13% share of total imports. It was followed by Turkey, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Japan totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+13.5% per year) and Turkey (+125.1% per year).

Import Prices by Country

The average mineral wool import price stood at $X per ton in 2021, increasing by 10% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mineral wool import price decreased by -14.4% against 2017 indices. The pace of growth was the most pronounced in 2013 an increase of 95%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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