Report Update: May 6, 2024

Hungary - Petroleum Bitumen - Market Analysis, Forecast, Size, Trends And Insights

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Petroleum Bitumen Price in Hungary - 2023

Petroleum Bitumen Price in Hungary (FOB) - 2023

The average petroleum bitumen export price stood at $566 per ton in August 2023, surging by 3.9% against the previous month. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 an increase of 19% m-o-m. Over the period under review, the average export prices reached the maximum at $574 per ton in August 2022; however, from September 2022 to August 2023, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In August 2023, the countries with the highest prices were Serbia ($592 per ton) and Slovakia ($583 per ton), while the average price for exports to Croatia ($546 per ton) and Poland ($559 per ton) were amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+0.5%), while the prices for the other major destinations experienced more modest paces of growth.

Petroleum Bitumen Price in Hungary (CIF) - 2022

The average petroleum bitumen import price stood at $581 per ton in 2022, rising by 35% against the previous year. Over the period under review, the import price, however, continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2017 when the average import price increased by 47%. The import price peaked at $654 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 ($886 per ton), while the price for Slovakia ($538 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Petroleum Bitumen Exports in Hungary

For the fourth consecutive year, Hungary recorded growth in overseas shipments of petroleum bitumen, which increased by less than 0.1% to 378K tons in 2022. The total export volume increased at an average annual rate of +2.8% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 7%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, petroleum bitumen exports surged to $231M in 2022. Overall, exports recorded a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 48% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Export of Petroleum Bitumen in Hungary (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Romania	49.7	41.1	49.8	75.0	14.7%
Croatia	23.7	19.7	30.9	41.6	20.6%
Slovenia	12.5	12.6	22.4	23.2	22.9%
Austria	15.1	10.8	16.8	22.0	13.4%
Slovakia	10.2	4.4	11.1	20.6	26.4%
Serbia	7.8	3.9	8.7	14.0	21.5%
Poland	9.1	8.5	11.1	13.8	14.9%
Bosnia and Herzegovina	9.0	4.6	6.5	8.4	-2.3%
Others	8.9	7.8	10.5	12.2	11.1%
Total	146	114	168	231	16.5%

Top Export Markets for Petroleum Bitumen from Hungary in 2022:

Romania (125.5K tons)
Croatia (68.0K tons)
Slovenia (36.7K tons)
Austria (34.4K tons)
Slovakia (32.4K tons)
Poland (24.8K tons)
Serbia (19.8K tons)
Bosnia and Herzegovina (13.7K tons)

Petroleum Bitumen Imports in Hungary

In 2022, purchases abroad of petroleum bitumen decreased by -29.1% to 237K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2021 when imports increased by 55%. As a result, imports attained the peak of 334K tons, and then shrank markedly in the following year.

In value terms, petroleum bitumen imports declined slightly to $138M in 2022. Over the period under review, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 52% against the previous year. As a result, imports reached the peak of $144M, and then reduced in the following year.

Import of Petroleum Bitumen in Hungary (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Slovakia	22.4	27.9	93.7	94.1	61.4%
Austria	32.3	53.0	38.3	22.8	-11.0%
Poland	7.3	3.3	4.2	8.4	4.8%
Germany	N/A	0.5	0.1	4.1	186.4%
Czech Republic	7.8	9.3	6.1	3.2	-25.7%
Ireland	N/A	N/A	0.1	2.3	2200.0%
Others	1.2	0.9	1.4	2.8	32.6%
Total	71.1	94.8	144	138	24.7%

Top Suppliers of Petroleum Bitumen to Hungary in 2022:

Slovakia (174.9K tons)
Austria (32.2K tons)
Poland (12.6K tons)
Czech Republic (4.9K tons)
Germany (4.6K tons)
Ireland (4.1K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the petroleum bitumen market in Hungary. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Hungary

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hungary
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023