Hungary: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in Hungary

In 2021, the Hungarian titanium dioxide market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, continues to indicate a perceptible slump. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Titanium Dioxide Production in Hungary

In value terms, titanium dioxide production totaled $X in 2021 estimated in export price. Overall, production, however, recorded a noticeable contraction. The pace of growth was the most pronounced in 2017 when the production volume increased by 39%. Titanium dioxide production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Titanium Dioxide Exports

Exports from Hungary

In 2021, approx. X tons of titanium dioxide were exported from Hungary; growing by 3.9% compared with 2020. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 15,579% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, titanium dioxide exports expanded rapidly to $X in 2021. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 17,592% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Sweden (X tons), Russia (X tons) and Serbia (X tons) were the main destinations of titanium dioxide exports from Hungary, with a combined 93% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Serbia (with a CAGR of +177.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for titanium dioxide exported from Hungary were Sweden ($X), Russia ($X) and Serbia ($X), with a combined 87% share of total exports.

Serbia, with a CAGR of +172.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average titanium dioxide export price stood at $X per ton in 2021, surging by 10% against the previous year. Overall, the export price, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Germany ($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 Slovenia (+4.9%), while the prices for the other major destinations experienced mixed trend patterns.

Titanium Dioxide Imports

Imports into Hungary

Titanium dioxide imports into Hungary skyrocketed to X tons in 2021, rising by 45% against 2020. In general, imports showed a modest increase. The most prominent rate of growth was recorded in 2013 when imports increased by 73%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, titanium dioxide imports soared to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X tons), Germany (X tons) and Austria (X tons) were the main suppliers of titanium dioxide imports to Hungary, with a combined 95% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +92.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of titanium dioxide to Hungary, comprising 63% of total imports. The second position in the ranking was taken by South Korea ($X), with a 26% share of total imports. It was followed by Austria, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+69.5% per year) and Austria (+13.0% per year).

Import Prices by Country

In 2021, the average titanium dioxide import price amounted to $X per ton, jumping by 17% against the previous year. Over the period under review, the import price, however, saw a slight decline. The growth pace was the most rapid in 2018 when the average import price increased by 29%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 China ($X per ton), while the price for South Korea ($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 (+52.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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