Hungary: Stranded Wire Market 2025

Stranded Wire Market Size in Hungary

The Hungarian stranded wire market shrank markedly to $X in 2021, reducing by -91% against the previous year. Overall, consumption recorded a precipitous slump. As a result, consumption reached the peak level of $X, and then reduced markedly in the following year.

Stranded Wire Production in Hungary

In value terms, stranded wire production rose remarkably to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 9.4% against the previous year. Stranded wire production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Stranded Wire Exports

Exports from Hungary

In 2021, shipments abroad of stranded wire, ropes and cables increased by 28% to X tons, rising for the third year in a row after three years of decline. In general, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +118.0% against 2018 indices. The pace of growth appeared the most rapid in 2020 with an increase of 39% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, stranded wire exports soared to $X in 2021. Overall, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +29.1% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Czech Republic (X tons), the Netherlands (X tons) and Germany (X tons) were the main destinations of stranded wire exports from Hungary, with a combined 42% share of total exports. The United States, Poland, Romania, Slovakia, Croatia, France and Belgium lagged somewhat behind, together accounting for a further 47%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +96.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for stranded wire, ropes and cables exports from Hungary, comprising 29% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with an 11% share of total exports. It was followed by the United States, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +25.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-2.4% per year) and the United States (+74.2% per year).

Export Prices by Country

The average stranded wire export price stood at $X per ton in 2021, with an increase of 23% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 42% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Poland ($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 Germany (+9.4%), while the prices for the other major destinations experienced mixed trend patterns.

Stranded Wire Imports

Imports into Hungary

In 2021, approx. X tons of stranded wire, ropes and cables were imported into Hungary; increasing by 38% on the previous year's figure. Overall, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +52.9% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 40% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, stranded wire imports surged to $X in 2021. Over the period under review, total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of stranded wire to Hungary, with a 30% share of total imports. Moreover, stranded wire imports from China exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +39.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+347.5% per year) and Germany (+14.0% per year).

In value terms, China ($X), Germany ($X) and Turkey ($X) constituted the largest stranded wire suppliers to Hungary, with a combined 54% share of total imports. Poland, Slovakia, Romania, Ukraine, South Korea and the Netherlands lagged somewhat behind, together accounting for a further 33%.

Among the main suppliers, Ukraine, with a CAGR of +204.3%, recorded 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

The average stranded wire import price stood at $X per ton in 2021, surging by 2.6% against the previous year. In general, the import price, however, showed a perceptible decline. The pace of growth appeared the most rapid in 2016 an increase of 29% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, 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 Turkey ($X per ton), while the price for Ukraine ($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 Netherlands (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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