Hungary: Market for Unsaturated Polyesters In Primary Forms 2024

Market Size for Unsaturated Polyesters In Primary Forms in Hungary

The Hungarian market for unsaturated polyesters in primary forms soared to $X in 2021, with an increase of 61% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +79.5% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Unsaturated Polyesters In Primary Forms

Exports from Hungary

In 2021, overseas shipments of unsaturated polyesters in primary forms increased by 35% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 404% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, unsaturated polyesters in primary forms exports surged to $X in 2021. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 409%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Romania (X tons) was the main destination for unsaturated polyesters in primary forms exports from Hungary, with a 39% share of total exports. Moreover, unsaturated polyesters in primary forms exports to Romania exceeded the volume sent to the second major destination, Bulgaria (X tons), twofold. The third position in this ranking was taken by Serbia (X tons), with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume to Romania totaled +47.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+130.5% per year) and Serbia (+22.9% per year).

In value terms, Romania ($X) emerged as the key foreign market for unsaturated polyesters in primary forms exports from Hungary, comprising 42% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 20% share of total exports. It was followed by Italy, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value to Romania amounted to +48.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+116.1% per year) and Italy (-1.1% per year).

Export Prices by Country

In 2021, the average export price for unsaturated polyesters in primary forms amounted to $X per ton, jumping by 39% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Serbia ($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 (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Unsaturated Polyesters In Primary Forms

Imports into Hungary

For the third year in a row, Hungary recorded growth in overseas purchases of unsaturated polyesters in primary forms, which increased by 26% to X tons in 2021. Over the period under review, total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +4.6% 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 +40.1% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, unsaturated polyesters in primary forms imports soared to $X in 2021. Overall, imports continue to indicate a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Germany (X tons) and Croatia (X tons) were the main suppliers of unsaturated polyesters in primary forms imports to Hungary, together comprising 44% of total imports. These countries were followed by the UK, Belgium, France, Poland, Turkey, Spain, the Netherlands, Austria and the Czech Republic, which together accounted for a further 53%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +54.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest unsaturated polyesters in primary forms suppliers to Hungary were Germany ($X), the UK ($X) and Italy ($X), with a combined 53% share of total imports. Belgium, Croatia, France, Poland, Turkey, Spain, the Netherlands, Austria and the Czech Republic lagged somewhat behind, together comprising a further 44%.

Belgium, with a CAGR of +47.9%, recorded the highest growth rate of 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

The average import price for unsaturated polyesters in primary forms stood at $X per ton in 2021, growing by 39% against the previous year. In general, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsaturated polyesters in primary forms import price increased by +33.9% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 the UK ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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