Hungary: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Hungary

After two years of decline, the Hungarian glass fibre fabrics market increased by 13% to $X in 2022. Over the period under review, consumption, however, saw a mild decline. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Glass Fibre Fabrics Production in Hungary

In value terms, glass fibre fabrics production stood at $X in 2022 estimated in export price. The total output value 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 being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 7.3% against the previous year. Glass fibre fabrics production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Glass Fibre Fabrics Exports

Exports from Hungary

After two years of growth, overseas shipments of glass fibre fabrics decreased by -17.9% to X tons in 2022. Over the period under review, exports, however, saw perceptible growth. The most prominent rate of growth was recorded in 2021 with an increase of 55%. As a result, the exports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, glass fibre fabrics exports fell rapidly to $X in 2022. Overall, exports, however, continue to indicate noticeable growth. The pace of growth was the most pronounced in 2021 when exports increased by 61%. As a result, the exports reached the peak of $X, and then fell dramatically in the following year.

Exports by Country

Germany (X tons), Italy (X tons) and Turkey (X tons) were the main destinations of glass fibre fabrics exports from Hungary, together comprising 72% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +157.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Turkey ($X) were the largest markets for glass fibre fabrics exported from Hungary worldwide, together accounting for 71% of total exports.

In terms of the main countries of destination, Turkey, with a CAGR of +117.4%, 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

In 2022, the average glass fibre fabrics export price amounted to $X per ton, almost unchanged from the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 11%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Turkey ($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 Poland (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Fabrics Imports

Imports into Hungary

In 2022, after five years of growth, there was significant decline in purchases abroad of glass fibre fabrics, when their volume decreased by -17.2% to X tons. In general, imports, however, continue to indicate a noticeable increase. The pace of growth was the most pronounced in 2021 when imports increased by 45% against the previous year. As a result, imports attained the peak of X tons, and then plummeted in the following year.

In value terms, glass fibre fabrics imports declined significantly to $X in 2022. Over the period under review, imports, however, saw a temperate expansion. The most prominent rate of growth was recorded in 2021 with an increase of 57%. As a result, imports attained the peak of $X, and then fell markedly in the following year.

Imports by Country

In 2022, Serbia (X tons) constituted the largest supplier of glass fibre fabrics to Hungary, with a 56% share of total imports. Moreover, glass fibre fabrics imports from Serbia exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Serbia amounted to +86.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+9.3% per year) and Italy (+9.0% per year).

In value terms, Serbia ($X), Italy ($X) and the Czech Republic ($X) constituted the largest glass fibre fabrics suppliers to Hungary, together accounting for 77% of total imports.

Serbia, with a CAGR of +87.0%, saw 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 glass fibre fabrics import price stood at $X per ton in 2022, approximately mirroring the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 37% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 Germany ($X per ton), while the price for Croatia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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