Hungary: Plastic Supports Market 2024

Plastic Supports Market Size in Hungary

The Hungarian plastic supports market dropped to $X in 2022, reducing by -7.5% against the previous year. Over the period under review, consumption, however, showed a pronounced slump. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Plastic Supports Production in Hungary

In value terms, plastic supports production reduced markedly to $X in 2022 estimated in export price. In general, production, however, showed a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 68%. Plastic supports production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Plastic Supports Exports

Exports from Hungary

For the third year in a row, Hungary recorded growth in shipments abroad of spools, cops, bobbins and similar supports of plastics, which increased by 24% to X tons in 2022. Overall, exports saw a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 51% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, plastic supports exports declined to $X in 2022. In general, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +19.4% against 2020 indices. The pace of growth was the most pronounced in 2018 when exports increased by 36% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Korea (X tons) was the main destination for plastic supports exports from Hungary, accounting for a 52% share of total exports. Moreover, plastic supports exports to South Korea exceeded the volume sent to the second major destination, Romania (X tons), fourfold. Germany (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to South Korea amounted to +270.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+3.1% per year) and Germany (+12.6% per year).

In value terms, Romania ($X), South Korea ($X) and Germany ($X) appeared to be the largest markets for plastic supports exported from Hungary worldwide, together comprising 56% of total exports.

South Korea, with a CAGR of +240.8%, saw the highest rates of growth with regard to 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

The average plastic supports export price stood at $X per ton in 2022, falling by -26.8% against the previous year. Overall, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 19%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to South Korea ($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 Taiwan (Chinese) (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Supports Imports

Imports into Hungary

In 2022, purchases abroad of spools, cops, bobbins and similar supports of plastics increased by 9.6% to X tons, rising for the second year in a row after two years of decline. Overall, imports enjoyed prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 67% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, plastic supports imports declined modestly to $X in 2022. In general, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by 47%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), Germany (X tons) and South Korea (X tons) were the main suppliers of plastic supports imports to Hungary, together comprising 72% of total imports. Ukraine, Serbia, North Macedonia, Romania, Austria, Sweden, Poland and Spain lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for North Macedonia (with a CAGR of +198.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic supports suppliers to Hungary were Germany ($X), Italy ($X) and South Korea ($X), with a combined 66% share of total imports. Ukraine, Serbia, Austria, Romania, Poland, Sweden, North Macedonia and Spain lagged somewhat behind, together comprising a further 19%.

Among the main suppliers, North Macedonia, with a CAGR of +100.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average plastic supports import price amounted to $X per ton, which is down by -11.4% against the previous year. In general, the import price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 an increase of 25%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Austria ($X per ton), while the price for North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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