Hungary: Winding Wire Market 2024

Winding Wire Market Size in Hungary

The Hungarian winding wire market declined to $X in 2022, which is down by -3.5% 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, consumption saw a slight curtailment. Winding wire consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Winding Wire Exports

Exports from Hungary

In 2022, exports of winding wire for electrical purposes from Hungary dropped dramatically to X tons, reducing by -23.4% on the year before. In general, exports saw a perceptible slump. The most prominent rate of growth was recorded in 2014 when exports increased by 15%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, winding wire exports dropped to $X in 2022. Over the period under review, total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +15.7% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 30% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Slovakia (X tons), Germany (X tons) and Italy (X tons) were the main destinations of winding wire exports from Hungary, together accounting for 84% of total exports. Ukraine, Moldova and Romania lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the biggest increases were recorded for Moldova (with a CAGR of +202.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for winding wire exported from Hungary were Slovakia ($X), Germany ($X) and Italy ($X), with a combined 94% share of total exports. Moldova, Ukraine and Romania lagged somewhat behind, together comprising a further 4.7%.

Moldova, with a CAGR of +167.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average winding wire export price stood at $X per ton in 2022, surging by 25% against the previous year. In general, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, winding wire export price increased by +96.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 57% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.

Winding Wire Imports

Imports into Hungary

In 2022, approx. X tons of winding wire for electrical purposes were imported into Hungary; waning by -7% compared with the year before. Over the period under review, imports saw a mild descent. The most prominent rate of growth was recorded in 2013 with an increase of 17% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, winding wire imports fell to $X in 2022. In general, imports continue to indicate a mild decline. The most prominent rate of growth was recorded in 2021 with an increase of 29%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of winding wire to Hungary, with a 43% share of total imports. Moreover, winding wire imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was taken by Sweden (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-5.8% per year) and Sweden (+5.2% per year).

In value terms, Germany ($X) constituted the largest supplier of winding wire for electrical purposes to Hungary, comprising 46% of total imports. The second position in the ranking was taken by Sweden ($X), with a 13% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+1.5% per year) and Italy (-8.9% per year).

Import Prices by Country

The average winding wire import price stood at $X per ton in 2022, growing by 2.3% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 22% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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