Hungary: Organic Pigments Market 2024

Organic Pigments Market Size in Hungary

In 2021, after three years of decline, there was significant growth in the Hungarian organic pigments market, when its value increased by 7.3% to $X. Over the period under review, the total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -31.5% against 2017 indices. Organic pigments consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Organic Pigments Production in Hungary

In value terms, organic pigments production surged to $X in 2021 estimated in export price. Overall, production showed a remarkable increase. The growth pace was the most rapid in 2016 when the production volume increased by 327%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Organic Pigments Exports

Exports from Hungary

In 2021, approx. X tons of synthetic organic coloring matter and pigments were exported from Hungary; rising by 5.8% on the previous year. Overall, exports saw resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 620%. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, organic pigments exports totaled $X in 2021. Over the period under review, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -6.7% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 27%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X tons), the UK (X tons) and Germany (X tons) were the main destinations of organic pigments exports from Hungary, together accounting for 49% of total exports. These countries were followed by the Netherlands, Austria, Slovakia, the Czech Republic, Croatia, Romania, Serbia, India, Sweden and Russia, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +95.2%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the Netherlands ($X) and Germany ($X) were the largest markets for organic pigments exported from Hungary worldwide, together comprising 35% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +86.9%, 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

The average organic pigments export price stood at $X per ton in 2021, surging by 7.9% against the previous year. Over the period under review, the export price, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2016 an increase of 217%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 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 Russia ($X per ton), while the average price for exports to the UK ($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 Russia (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into Hungary

After three years of growth, purchases abroad of synthetic organic coloring matter and pigments decreased by -6.2% to X tons in 2021. In general, imports, however, continue to indicate a mild increase. The pace of growth appeared the most rapid in 2020 when imports increased by 159% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, organic pigments imports rose notably to $X in 2021. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 19%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of organic pigments to Hungary, accounting for a 31% share of total imports. Moreover, organic pigments imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Sweden (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands amounted to +46.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+42.9% per year) and Germany (-16.8% per year).

In value terms, Germany ($X), the Netherlands ($X) and Belgium ($X) appeared to be the largest organic pigments suppliers to Hungary, together accounting for 48% of total imports.

The Netherlands, with a CAGR of +21.3%, saw the highest rates of growth with regard to the value of imports, among 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 2021, the average organic pigments import price amounted to $X per ton, with an increase of 16% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 320%. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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