Hungary: Sodium Triphosphate Market 2024

Sodium Triphosphate Market Size in Hungary

The Hungarian sodium triphosphate market skyrocketed to $X in 2022, picking up by 133% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a pronounced descent. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Sodium Triphosphate Exports

Exports from Hungary

In 2022, exports of sodium triphosphate (sodium tripolyphosphates) from Hungary declined markedly to X tons, reducing by -70.5% against 2021. In general, exports recorded a noticeable contraction. The pace of growth appeared the most rapid in 2015 with an increase of 86% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, sodium triphosphate exports reduced remarkably to $X in 2022. Overall, exports continue to indicate a pronounced setback. The growth pace was the most rapid in 2017 when exports increased by 85% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons), Russia (X tons) and Germany (X tons) were the main destinations of sodium triphosphate exports from Hungary, with a combined 99% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +1.0%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for sodium triphosphate exported from Hungary were Saudi Arabia ($X), Russia ($X) and Germany ($X), together accounting for 99% of total exports.

Russia, with a CAGR of +3.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average sodium triphosphate export price stood at $X per ton in 2022, reducing by -2.2% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 15%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Saudi Arabia ($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 Russia (+2.5%), while the prices for the other major destinations experienced mixed trend patterns.

Sodium Triphosphate Imports

Imports into Hungary

In 2022, imports of sodium triphosphate (sodium tripolyphosphates) into Hungary declined markedly to X tons, shrinking by -30.3% against 2021. Over the period under review, imports saw a perceptible contraction. The most prominent rate of growth was recorded in 2015 with an increase of 30%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, sodium triphosphate imports expanded remarkably to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 22%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Belgium (X tons) constituted the largest sodium triphosphate supplier to Hungary, with a 74% share of total imports. Moreover, sodium triphosphate imports from Belgium exceeded the figures recorded by the second-largest supplier, Poland (X tons), sixfold. Slovenia (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium totaled +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-4.0% per year) and Slovenia (-4.7% per year).

In value terms, Belgium ($X) constituted the largest supplier of sodium triphosphate (sodium tripolyphosphates) to Hungary, comprising 72% of total imports. The second position in the ranking was held by Poland ($X), with a 10% share of total imports. It was followed by Slovenia, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value from Belgium stood at +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-1.3% per year) and Slovenia (+2.8% per year).

Import Prices by Country

In 2022, the average sodium triphosphate import price amounted to $X per ton, growing by 58% against the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sodium triphosphate import price increased by +88.4% against 2017 indices. As a result, import price reached the peak level and is likely to continue 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 Italy ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+27.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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