Hungary: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in Hungary

The Hungarian sulphuric acid market reduced remarkably to $X in 2022, which is down by -36.7% against the previous year. Overall, consumption showed a perceptible descent. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Sulphuric Acid Production in Hungary

In value terms, sulphuric acid production declined remarkably to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by 13% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Sulphuric Acid Exports

Exports from Hungary

In 2022, the amount of sulphuric acid and oleum exported from Hungary surged to X tons, jumping by 59% compared with the year before. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.0% 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 +76.4% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sulphuric acid exports soared to $X in 2022. Overall, exports continue to indicate a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Serbia (X tons) was the main destination for sulphuric acid exports from Hungary, accounting for a 42% share of total exports. Moreover, sulphuric acid exports to Serbia exceeded the volume sent to the second major destination, Romania (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Serbia stood at +27.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-6.8% per year) and Germany (+35.7% per year).

In value terms, Serbia ($X), Romania ($X) and Slovakia ($X) constituted the largest markets for sulphuric acid exported from Hungary worldwide, together accounting for 75% of total exports. Germany, Bosnia and Herzegovina, Poland and Austria lagged somewhat behind, together comprising a further 14%.

Among the main countries of destination, Poland, with a CAGR of +37.5%, recorded the highest growth rate of 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 2022, the average sulphuric acid export price amounted to $X per ton, increasing by 34% against the previous year. Overall, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphuric acid export price increased by +99.7% against 2015 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Germany ($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 Bosnia and Herzegovina (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphuric Acid Imports

Imports into Hungary

Sulphuric acid imports into Hungary surged to X tons in 2022, picking up by 107% compared with 2021 figures. Overall, imports showed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sulphuric acid imports surged to $X in 2022. In general, imports posted a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Poland (X tons) constituted the largest sulphuric acid supplier to Hungary, with a 70% share of total imports. Moreover, sulphuric acid imports from Poland exceeded the figures recorded by the second-largest supplier, Austria (X tons), fourfold. Romania (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume from Poland stood at +39.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+3.6% per year) and Romania (+73.4% per year).

In value terms, the largest sulphuric acid suppliers to Hungary were Poland ($X), Austria ($X) and Romania ($X), with a combined 83% share of total imports. The Czech Republic, Croatia and Germany lagged somewhat behind, together accounting for a further 13%.

Croatia, with a CAGR of +179.2%, saw 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

In 2022, the average sulphuric acid import price amounted to $X per ton, increasing by 5.1% against the previous year. Overall, the import price, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 22%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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