Hungary: Toluene Market 2024

Toluene Market Size in Hungary

In 2021, the Hungarian toluene market was finally on the rise to reach $X after four years of decline. Over the period under review, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -22.3% against 2016 indices. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Toluene Production in Hungary

In value terms, toluene production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 38%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Toluene Exports

Exports from Hungary

In 2021, exports of toluene from Hungary dropped sharply to X tons, shrinking by -37.7% compared with the previous year. In general, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2020 when exports increased by 42,172%. As a result, the exports attained the peak of X tons, and then plummeted in the following year.

In value terms, toluene exports soared to $X in 2021. Overall, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2020 when exports increased by 17,102%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Slovakia (X tons) was the main destination for toluene exports from Hungary, accounting for a 62% share of total exports. Moreover, toluene exports to Slovakia exceeded the volume sent to the second major destination, Poland (X tons), twofold. The third position in this ranking was taken by Bulgaria (X tons), with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume to Slovakia amounted to +239.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+171.2% per year) and Bulgaria (+11.8% per year).

In value terms, Slovakia ($X) emerged as the key foreign market for toluene exports from Hungary, comprising 61% of total exports. The second position in the ranking was taken by Poland ($X), with a 31% share of total exports. It was followed by Bulgaria, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value to Slovakia amounted to +233.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+166.7% per year) and Bulgaria (+5.1% per year).

Export Prices by Country

In 2021, the average toluene export price amounted to $X per ton, rising by 144% against the previous year. Over the period under review, the export price, however, showed a noticeable decline. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Serbia ($X per ton) and Bulgaria ($X per ton), while the average price for exports to Poland ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Toluene Imports

Imports into Hungary

In 2021, overseas purchases of toluene increased by 18% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 109%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, toluene imports soared to $X in 2021. Overall, imports recorded a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 110% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Poland (X tons), Germany (X tons) and Slovakia (X tons) were the main suppliers of toluene imports to Hungary, together accounting for 85% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +94.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of toluene to Hungary, comprising 68% of total imports. The second position in the ranking was held by Poland ($X), with a 16% share of total imports. It was followed by Slovakia, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +58.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-7.6% per year) and Slovakia (+37.0% per year).

Import Prices by Country

The average toluene import price stood at $X per ton in 2021, increasing by 35% against the previous year. Overall, the import price, however, continues to indicate a pronounced reduction. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Romania (-3.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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