Hungary: Woven Carpet Market 2024

Woven Carpet Market Size in Hungary

The Hungarian woven carpet market skyrocketed to $X in 2022, increasing by 43% against the previous year. Over the period under review, consumption showed a prominent increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Woven Carpet Production in Hungary

In value terms, woven carpet production skyrocketed to $X in 2022 estimated in export price. Overall, production posted prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 640% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Woven Carpet Exports

Exports from Hungary

Woven carpet exports from Hungary declined to X square meters in 2022, which is down by -14.7% compared with the year before. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 20%. As a result, the exports reached the peak of X square meters, and then fell in the following year.

In value terms, woven carpet exports declined dramatically to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 17% against the previous year. The exports peaked at $X in 2021, and then shrank remarkably in the following year.

Exports by Country

Germany (X square meters), Romania (X square meters) and Austria (X square meters) were the main destinations of woven carpet exports from Hungary, together accounting for 73% of total exports. Slovakia, Bulgaria, Spain and Croatia lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +146.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Romania ($X) and Slovakia ($X) appeared to be the largest markets for woven carpet exported from Hungary worldwide, together accounting for 85% of total exports. Austria, Bulgaria, Croatia and Spain lagged somewhat behind, together accounting for a further 9%.

In terms of the main countries of destination, Spain, with a CAGR of +65.0%, 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 woven carpet export price stood at $X per square meter in 2022, shrinking by -4.9% against the previous year. In general, the export price saw a slight decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by 14%. The export price peaked at $X per square meter in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per square meter), while the average price for exports to Spain ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+0.7%), while the prices for the other major destinations experienced a decline.

Woven Carpet Imports

Imports into Hungary

In 2022, woven carpet imports into Hungary soared to X square meters, with an increase of 19% compared with the previous year. Overall, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +20.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 30%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, woven carpet imports amounted to $X in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +16.7% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 32%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Turkey (X square meters), Poland (X square meters) and Germany (X square meters) were the main suppliers of woven carpet imports to Hungary, together accounting for 62% of total imports. Japan, China, Belgium, Serbia, India, Austria, Slovakia, Italy and Ukraine lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +2,718,816.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest woven carpet suppliers to Hungary were Turkey ($X), Germany ($X) and Poland ($X), together comprising 58% of total imports. Japan, Belgium, Austria, Serbia, India, China, Slovakia, Italy and Ukraine lagged somewhat behind, together comprising a further 36%.

Japan, with a CAGR of +1,562,096.5%, 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

The average woven carpet import price stood at $X per square meter in 2022, declining by -15.2% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 15% against the previous year. As a result, import price reached the peak level of $X per square meter, and then declined dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per square meter), while the price for Italy ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :