Hungary: Sulphonamides Market 2024

Sulphonamides Market Size in Hungary

After four years of decline, the Hungarian sulphonamides market increased by 5.6% to $X in 2021. In general, consumption, however, continues to indicate a abrupt setback. Sulphonamides consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Sulphonamides Production in Hungary

In value terms, sulphonamides production stood at $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate resilient growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 23%. As a result, production reached the peak level of $X; afterwards, it flattened through to 2021.

Sulphonamides Exports

Exports from Hungary

For the third year in a row, Hungary recorded decline in shipments abroad of sulphonamides, which decreased by -37.8% to X tons in 2021. In general, exports recorded a abrupt decline. The pace of growth was the most pronounced in 2016 with an increase of 339% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, sulphonamides exports soared to $X in 2021. Overall, exports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2016 when exports increased by 232%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for sulphonamides exports from Hungary, with a 72% share of total exports. Moreover, sulphonamides exports to the United States exceeded the volume sent to the second major destination, Russia (X tons), fourfold. Spain (X kg) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +26.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+153.4% per year) and Spain (+74.9% per year).

In value terms, the United States ($X) emerged as the key foreign market for sulphonamides exports from Hungary, comprising 77% of total exports. The second position in the ranking was taken by Russia ($X), with a 14% share of total exports. It was followed by Spain, with a 0.4% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +48.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+239.5% per year) and Spain (+66.1% per year).

Export Prices by Country

In 2021, the average sulphonamides export price amounted to $X per kg, surging by 315% against the previous year. In general, the export price showed a significant expansion. The pace of growth was the most pronounced in 2014 an increase of 396%. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per kg), while the average price for exports to Spain ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+27.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphonamides Imports

Imports into Hungary

In 2021, supplies from abroad of sulphonamides was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports, however, faced a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 248%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, sulphonamides imports shrank significantly to $X in 2021. In general, imports, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 47% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), China (X tons) and Germany (X tons) were the main suppliers of sulphonamides imports to Hungary, with a combined 67% share of total imports. Israel, India, Switzerland, the Czech Republic and Italy lagged somewhat behind, together comprising a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +26.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and the Netherlands ($X) appeared to be the largest sulphonamides suppliers to Hungary, with a combined 80% share of total imports. These countries were followed by Italy, Switzerland, Israel, Germany and the Czech Republic, which together accounted for a further 17%.

Switzerland, with a CAGR of +36.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sulphonamides import price stood at $X per ton in 2021, dropping by -34.9% against the previous year. Overall, the import price, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 an increase of 163%. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+32.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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