Hungary: Glass Fiber Market 2024

Glass Fiber Market Size in Hungary

The Hungarian glass fiber market skyrocketed to $X in 2021, growing by 47% 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). Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.2% 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 increased by +35.0% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Glass Fiber Exports

Exports from Hungary

In 2021, the amount of voiles, webs, mats and other articles of glass fibers exported from Hungary dropped to X tons, declining by -12.6% compared with 2020 figures. In general, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2016 when exports increased by 114% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, glass fiber exports reduced to $X in 2021. Overall, exports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2016 when exports increased by 147%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for glass fiber exports from Hungary, with a 33% share of total exports. Moreover, glass fiber exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), twofold. The third position in this ranking was held by Poland (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+48.1% per year) and Poland (+43.0% per year).

In value terms, the largest markets for glass fiber exported from Hungary were Germany ($X), Poland ($X) and Italy ($X), with a combined 55% share of total exports. The United States, the Czech Republic, Austria and Slovakia lagged somewhat behind, together comprising a further 23%.

Among the main countries of destination, the Czech Republic, with a CAGR of +82.8%, recorded the highest rates of growth with regard to 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

In 2021, the average glass fiber export price amounted to $X per ton, picking up by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 24% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in the near future.

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 Austria ($X per ton), while the average price for exports to Slovakia ($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 the Czech Republic (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into Hungary

In 2021, approx. X tons of voiles, webs, mats and other articles of glass fibers were imported into Hungary; rising by 19% against the previous year's figure. In general, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.8% 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 +9.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 23% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, glass fiber imports surged to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.1% 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 +30.5% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Slovenia (X tons), the Czech Republic (X tons) and Romania (X tons) were the main suppliers of glass fiber imports to Hungary, together comprising 64% of total imports. Germany, Poland, Italy, France and Finland lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +19.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Slovenia ($X) appeared to be the largest glass fiber suppliers to Hungary, with a combined 40% share of total imports. Romania, the Czech Republic, Italy, Poland and Finland lagged somewhat behind, together comprising a further 37%.

Italy, with a CAGR of +23.0%, recorded the highest growth rate of the value of imports, in terms of 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 glass fiber import price amounted to $X per ton, rising by 20% against the previous year. Overall, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Slovenia ($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 (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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