Hungary: Market for Vulcanised Cellular Rubber Articles For Technical Uses 2024

Market Size for Vulcanised Cellular Rubber Articles For Technical Uses in Hungary

In 2021, the Hungarian vulcanised cellular rubber articles market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a noticeable descent. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Production of Vulcanised Cellular Rubber Articles For Technical Uses in Hungary

In value terms, vulcanised cellular rubber articles production declined to $X in 2021 estimated in export price. Over the period under review, the total production indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +114.4% against 2015 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 36% against the previous year. Vulcanised cellular rubber articles production peaked at $X in 2020, and then declined in the following year.

Exports of Vulcanised Cellular Rubber Articles For Technical Uses

Exports from Hungary

In 2021, overseas shipments of vulcanised cellular rubber articles for technical uses increased by 7.3% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 18%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, vulcanised cellular rubber articles exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a perceptible setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Finland (X tons) was the main destination for vulcanised cellular rubber articles exports from Hungary, with a 45% share of total exports. Moreover, vulcanised cellular rubber articles exports to Finland exceeded the volume sent to the second major destination, Poland (X tons), sixfold. Germany (X tons) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Finland stood at +114.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-19.3% per year) and Germany (-26.5% per year).

In value terms, Finland ($X), Switzerland ($X) and Latvia ($X) appeared to be the largest markets for vulcanised cellular rubber articles exported from Hungary worldwide, with a combined 53% share of total exports.

Among the main countries of destination, Latvia, with a CAGR of +238.0%, saw 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 vulcanised cellular rubber articles export price stood at $X per ton in 2021, jumping by 17% against the previous year. In general, the export price recorded resilient growth. The most prominent rate of growth was recorded in 2017 an increase of 40% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Italy ($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 Latvia (+24.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vulcanised Cellular Rubber Articles For Technical Uses

Imports into Hungary

In 2021, after three years of decline, there was significant growth in supplies from abroad of vulcanised cellular rubber articles for technical uses, when their volume increased by 27% to X tons. Over the period under review, imports, however, continue to indicate a abrupt descent. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, vulcanised cellular rubber articles imports surged to $X in 2021. Overall, imports, however, continue to indicate a deep slump. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of vulcanised cellular rubber articles imports to Hungary, together accounting for 69% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +45.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of vulcanised cellular rubber articles for technical uses to Hungary, comprising 34% of total imports. The second position in the ranking was held by China ($X), with a 14% share of total imports. It was followed by Belgium, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+46.7% per year) and Belgium (-3.4% per year).

Import Prices by Country

The average vulcanised cellular rubber articles import price stood at $X per ton in 2021, increasing by 13% against the previous year. Over the period under review, the import price enjoyed a strong increase. The pace of growth appeared the most rapid in 2019 when the average import price increased by 80%. The import price peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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