Hungary: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Hungary

After three years of growth, the Hungarian synthetic filament tow market decreased by -13.4% to $X in 2021. In general, consumption, however, saw a resilient expansion. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Synthetic Filament Tow Production in Hungary

In value terms, synthetic filament tow production totaled $X in 2021 estimated in export price. In general, production faced a deep downturn. The most prominent rate of growth was recorded in 2016 when the production volume increased by 112% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Synthetic Filament Tow Exports

Exports from Hungary

For the third year in a row, Hungary recorded decline in overseas shipments of synthetic filament tow and staple fibers, not carded or combed, which decreased by -27.6% to X tons in 2021. Over the period under review, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2015 with an increase of 81% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, synthetic filament tow exports soared to $X in 2021. In general, exports recorded a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 50%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Italy (X tons) was the main destination for synthetic filament tow exports from Hungary, with a 57% share of total exports. Moreover, synthetic filament tow exports to Italy exceeded the volume sent to the second major destination, Germany (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy stood at -9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+0.3% per year) and Mexico (+12.6% per year).

In value terms, Italy ($X) remains the key foreign market for synthetic filament tow exports from Hungary, comprising 61% of total exports. The second position in the ranking was held by Mexico ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy totaled -10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+7.9% per year) and Germany (-1.7% per year).

Export Prices by Country

In 2021, the average synthetic filament tow export price amounted to $X per ton, with an increase of 86% against the previous year. Overall, the export price, however, continues to indicate a slight decline. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while the average price for exports to Germany ($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 Italy (-0.8%), while the prices for the other major destinations experienced a decline.

Synthetic Filament Tow Imports

Imports into Hungary

In 2021, after three years of growth, there was significant decline in overseas purchases of synthetic filament tow and staple fibers, not carded or combed, when their volume decreased by -19.3% to X tons. Overall, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 135% against the previous year. As a result, imports attained the peak of X tons, and then reduced markedly in the following year.

In value terms, synthetic filament tow imports dropped to $X in 2021. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +73.0% against 2012 indices. The pace of growth was the most pronounced in 2018 when imports increased by 33%. Imports peaked at $X in 2020, and then shrank in the following year.

Imports by Country

Mexico (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of synthetic filament tow imports to Hungary, with a combined 60% share of total imports. These countries were followed by Romania, Saudi Arabia, Belgium, Bulgaria, Belarus, Turkey, Poland and Slovakia, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +83.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of synthetic filament tow to Hungary, comprising 39% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by Italy, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico stood at +84.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.5% per year) and Italy (-8.5% per year).

Import Prices by Country

In 2021, the average synthetic filament tow import price amounted to $X per ton, picking up by 6.2% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 57% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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